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  • FIRST POST
    • Cleeve
    • By Cleeve 29th Nov 17, 8:26 PM
    • 14Posts
    • 7Thanks
    Cleeve
    Financial Services Guarantee & Trusts
    • #1
    • 29th Nov 17, 8:26 PM
    Financial Services Guarantee & Trusts 29th Nov 17 at 8:26 PM
    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?
Page 1
    • Keep pedalling
    • By Keep pedalling 29th Nov 17, 10:30 PM
    • 4,995 Posts
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    Keep pedalling
    • #2
    • 29th Nov 17, 10:30 PM
    • #2
    • 29th Nov 17, 10:30 PM
    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 7
    • Cleeve
    • By Cleeve 30th Nov 17, 10:08 AM
    • 14 Posts
    • 7 Thanks
    Cleeve
    • #3
    • 30th Nov 17, 10:08 AM
    • #3
    • 30th Nov 17, 10:08 AM
    Thanks. Very useful to know it's covered & just included in the beneficiaries' total claim.
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