Author Topic: Uk bank account guarantee (Read 1841 times)

Karennina · « **on:** February 05, 2012, 11:32:48 AM »

I know this is not about a Turkish bank account but could someone please tell me how much you are guaranteed up to in a Uk bank account if that bank were to fail? I have googled it and it comes up with £35000 which does not seem much, just forward planning in case I downsize my house over here. Thanks for any replies.

grahamturner09 · « **Reply #1 on:** February 05, 2012, 11:54:13 AM »

I think it is now 50K

Ovacikpeedoff · « **Reply #2 on:** February 05, 2012, 12:11:22 PM »

It is £85k.

steveb1 · « **Reply #3 on:** February 05, 2012, 12:54:56 PM »

that's per person so as a couple you get 170k

Liz 101 · « **Reply #4 on:** February 05, 2012, 13:23:22 PM »

Only if it's a joint account

Karennina · « **Reply #5 on:** February 05, 2012, 15:07:41 PM »

Ok that is brilliant, many thanks folks

Ovacikpeedoff · « **Reply #6 on:** February 05, 2012, 15:51:09 PM »

It may not be £170k. If you and your partner have a savings account with £160k in it and you have another single account with £10k in it. You do not have full protection. You both have £80k for the joint account. You only have £5k from the single account as you have used all your £85k.

The other change that has been made is that it is no long bank or buildingsociety it is financial institution. If you have £85k in an individual account in Nationwide and the same amount in an individual account in the Cheshire then you total cover is limited to £85k as both are part of the Nationwide group.

it is wise to spread your money around but do make sure that you are not putting it in the same group with different brand names.

Karennina · « **Reply #7 on:** February 06, 2012, 13:33:59 PM »

Thank you very much I really appreciate the info, now just got to get 85k each to bank

Author Topic: Uk bank account guarantee (Read 1841 times)

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