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unclefester

Fsa Banking Guarantee

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Just wondering does the FSA guarantee extend to business accounts or is it just for personal accounts.

Thanks

I run a small business, what about me?

The FSCS deposit protection scheme covers small businesses. To qualify they have to meet at least two of the following conditions. They must:

have annual turnover of less than £6.5m.

have a balance sheet of less than £3.26m.

have fewer than 50 employees.

Larger businesses are excluded from the scheme, except in relation to claims made under a compulsory insurance policy.

This might be where a company makes a claim but the insurer fails to pay out, or if premiums have been handed over but not in fact used to buy a valid policy.

http://www.bbc.co.uk/news/business-12099592

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Just wondering does the FSA guarantee extend to business accounts or is it just for personal accounts.

Thanks

It's interesting that that question is being asked at all. I wonder what happens when a lot more people start asking questions about the safety of their savings.

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It's interesting that that question is being asked at all. I wonder what happens when a lot more people start asking questions about the safety of their savings.

Dare I say it.......

All savings will be safe.

Banks will be nationalised and Government will honour all liabilities.

Otherwise, the consequences may well be such that last week's riots will seem like a garden-party in the park in

comparison to what will happen.

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It's interesting that that question is being asked at all. I wonder what happens when a lot more people start asking questions about the safety of their savings.

That question was being asked even back in the days of Northern Rock's 125% mortgages.

I steered clear of Icesave and forewent their market-beating interest rates, in the mistaken belief that the taxpayer wouldn't underwrite my savings there :huh:

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Dare I say it.......

All savings will be safe.

Banks will be nationalised and Government will honour all liabilities.

Otherwise, the consequences may well be such that last week's riots will seem like a garden-party in the park in

comparison to what will happen.

The trouble is even though deposits may well be safe if the BoE have to print up £1tn to rescue the banking system then the buying power of the saved deposits will go down dramatically. Remember, we are all in this together :ph34r:

It's like a Dr telling you he saved your hand just after he amputated the arm it's attached to :)

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The trouble is even though deposits may well be safe if the BoE have to print up £1tn to rescue the banking system then the buying power of the saved deposits will go down dramatically. Remember, we are all in this together :ph34r:

It's like a Dr telling you he saved your hand just after he amputated the arm it's attached to :)

Yes that goes without saying.

For example, an individual with £30k may well have his savings rescued but in due course

a loaf of bread will cost a fiver.

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a loaf of bread will cost a fiver.

You mean they don't already!

(take a look at your local farmers market prices for some examples)

tim

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  • 343 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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