Too much in Virgin ISAs 26 February at 3:07PM in ISAs & tax-free savings 3 replies 377 views

cslogg

My wife and I have inadvertently amassed more then £85k in various Virgin ISAs.Should I be overly concerned that if the company folds I would not be covered by the Govt.insurance scheme and move  some money out at the first chance I get ?
I would Virgin are a stable company but who knows?

steveksullivan

More that 85K each or between you? The FSCS covers you for 85k per person ....

eskbanker

cslogg said:

My wife and I have inadvertently amassed more then £85k in various Virgin ISAs.Should I be overly concerned that if the company folds I would not be covered by the Govt.insurance scheme and move  some money out at the first chance I get ?
I would Virgin are a stable company but who knows?

Pedantic point of order - FSCS isn't a 'government insurance scheme' but an industry-funded deposit protection scheme....

Arthurian

I would transfer the excess out to another provider, remembering to allow for the accumulation of interest in the Virgin ISA.