Business a/c Guarantee Limit

[51st State]

That's out of date now. I belive it's 100% of the first £35,000 now.

Just spotted this: http://www.caterallen.co.uk/News/Lat...?pid=84&id=162

Guarantee has been extended to July 2012.

[MrRobin]

That's out of date now. I belive it's 100% of the first £35,000 now.

[51st State]

From the CA website:

Cater Allen Limited is a member of the Financial Services Compensation Scheme established under the Financial Services and Markets Act 2000. Payments under the scheme are limited to 100% of the first £2,000 and 90% of the next £33,000 of a depositor's total deposits with Cater Allen Limited subject to a maximum payment to any one depositor of £31,700.

On the bright side, I believe that CA creditors are 100% guaranteed by Abbey and Santander.

[Platypus]

Is a business a/c guaranteed in the same way a personal one is (to a max of £35K)?

Reading the news today its all doom/gloom.

FWIW, I bank with CA.

Any suggestions on how to protect your a/c?

Max £35k per person per institution. "Small firms" are included in the FSCS scheme although I can't find a definition of a small firm. Try http://www.fscs.org.uk/

[Cyberman]

It's worth knowing also, that if you bank with a main bank and also its subsidiary, you are only guaranteed on one account. So for example, if you had an account with Abbey as well as Cater Allen, it would make sense to move one of them.

[MrRobin]

I'm pretty sure that ANY deposits within an institution regulated by the FSA are guaranteed under the financial services compensation scheme.

But don't take it as definite from me, phone up CA!

[Sockpuppet]

Bank with Northern Rock.

HTH

[lambretta008]

Is a business a/c guaranteed in the same way a personal one is (to a max of £35K)?

Reading the news today its all doom/gloom.

FWIW, I bank with CA.

Any suggestions on how to protect your a/c?