Charity money/deposits and Financial Services Compensation Scheme

dralphs

Hi

I am the district treasurer for Oxford Spires Scouts

Given all the problems surrounding Northern Rock at the moment, I have been doing a bit of research and trying to find out if money held in deposit accounts by charities like ourselves is covered by the Financial Services Compensation Scheme. I haven’t found anything concrete so far hence the question.

We don’t have a large sum on deposit (well under the FSCS limits) and its not with Northern Rock, so aren’t that concerned at present, but it would be reassuring to know if we are covered or not.

regards

Dave

Savvy_Sue

Would the quickest way to find out be to phone the bank / building society where you hold your funds and ask them? Also would have thought it should be in the Banking Code of Practice which I seem to get sent from time to time, although not as far as I remember with the work accounts.

Quite like to know myself ...