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Financial Services Guarantee & Trusts
Cleeve
Posts: 14 Forumite
Can someone explain how the FSC bank guarantee works with respect to money held in trust. Is the trust covered by the same £85,000 cover as individuals? If so does this relate to the Trust, as an separate individual entity, or the Trustees or the ultimate beneficiaries. and if one of the latter, does this form part of their guarantee limit as individuals?
0
Comments
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Trusts are covered up to £85,000 regardless of how many trustees or beneficiaries are involved.
https://www.fscs.org.uk/can-we-help/?query=are+charities+covered#
Click on question 70 -
Thanks. Very useful to know it's covered & just included in the beneficiaries' total claim.0
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