Originally posted by stek
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The £75k bank guarantee thing????
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Originally posted by WordIsBond View PostAnd I'm not sure how to reconcile what Cater Allen's own website says with the This Is Money link.Comment
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Originally posted by stek View PostHow does MassiveClientCo manage with this - surely they don't shift each £75k chunk to various sundry banks, what do they do?
I'm a bit worried as I might need three banks soon at this rate....
Ideas?Comment
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Where does this 75k per account come from? is it in an account somewhere waiting for a banking crash?
Or is it just a facade to try and stop people panicking and doing a run on the banks after reading a few extreme tweets...Comment
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Originally posted by ContrataxLtd View PostDoesn't the £75,000 compensation scheme only apply to individuals and small businesses, therefore, massiveclientco wouldn't be covered in any eventuality?Comment
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Originally posted by jamesbrown View PostYep, better this year than nextThe greatest trick the devil ever pulled was convincing the world that he didn't existComment
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I've never had near to £75k in a bank, and am not likely to either.
The one that worried me was the £50,000 protection limit on other investments such as shares held in a nominee account.
I'm thinking about pension/SIPP funds here.
NOT protection against a fall in the share price of course, but against the account provider going bust or doing a moonlight.
Anyone done any research into the relative risks here? Is it worth having a load of 50k pension pots?
I guess the bigger risk is from a fall in share price, but that's a different matter.......Comment
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Originally posted by RSoles View PostThe one that worried me was the £50,000 protection limit on other investments such as shares held in a nominee account.
As for the 75k limit, well, business account rates are tulip, it shows on public record (easily searchable these days), Hector could take a pop at any time... I would rather have the money out of the company or make company contributions to a SIPP.Comment
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Originally posted by RSoles View PostI've never had near to £75k in a bank, and am not likely to either.
The one that worried me was the £50,000 protection limit on other investments such as shares held in a nominee account.
I'm thinking about pension/SIPP funds here.
NOT protection against a fall in the share price of course, but against the account provider going bust or doing a moonlight.
Anyone done any research into the relative risks here? Is it worth having a load of 50k pension pots?
I guess the bigger risk is from a fall in share price, but that's a different matter.......Comment
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Originally posted by Contreras View PostAs I understand it the 50k limit is only for cash. If the provider goes under, shares held in the nominee account remain ring-fenced and the worst is you lose access for a while. That's assuming no fraud involved.
As for the 75k limit, well, business account rates are tulip, it shows on public record (easily searchable these days), Hector could take a pop at any time... I would rather have the money out of the company or make company contributions to a SIPP.
Got two kids at uni, personally skint keeping them going, sod it, I'm having a curved telly.....Comment
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