Bank Accounts

[picker]

If Myself & Wife hold joint accounts in a building society how much capital can we have to keep below the fscs compensation levels

[Buenchico]

£170k:
https://www.fscs.org.uk/what-we-cover/

[TheWinner]

https://www.fscs.org.uk/what-we-cover/

[bobbinwales]

https://www.fscs.org.uk/what-we-cover/
£170000.
Tho its pretty meaningless imo as if major banks went bust then the goverment may not afford to pay out

[Prudie]

Dunno but wanted to say Hi to TheWinner - haven't seen you around for ages :-)

[TheWinner]

hi Prudie, thank you for that, nice to know I've been missed.

[pixie374]

I saw too, thewinner. Hope you are ok x

[TheWinner]

thanks pixie374, hi!

[pixie374]

:-).x

[barry1010]

bobbinwales, it is not the government that pays the compensation:

"We're able to pay our customers compensation because we are fully funded by the financial services industry. Firms authorised by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA) pay us an annual levy which funds the cost of running our service."

https://www.fscs.org.uk/about-us/funding/

[Peter Pedant]

bobbin's is a personal opinion
the consensus seems to be dubboo
sozza essex accent creeping in there - all the city slickers are estuarial wide boys - - double