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What is the connection between bank share prices falling and the bank guarantee of customers money?
dfcoates
Posts: 1 Newbie
Lloyds bank shares are at 28p today - what happens to customers funds if the share price collapses altogether?
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Comments
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Normal £85,000 banking protectionEx forum ambassador
Long term forum member0 -
In answer to the title - nothing. The funds are guaranteed up to £85K by the FSCS. Share price has little to do with a banks financial security.
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The short answer is that there isn't necessarily any connection between share prices and whether the bank is still able to trade. If they do go bust then deposits are protected by the Financial Services Compensation Scheme - details here:
https://www.moneysavingexpert.com/savings/safe-savings/
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Business as normal. Share price mans nothing to customers.Life in the slow lane0
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