Failing banks

[windowlene]

If a bank fails, how much of your investment do they have to pay back?

[R1Geezer]

None.

[Abdulmajid]

I believe if regulated by the FSA (which they will be) you can get at least 30K.

[abstract]

all of it if your wearing a balaclava and have a sawn off shotgun!

[another-view]

At least 30k !!!

Cool. I only had a tenner in the account.

[R1Geezer]

if there's bu66ger all left after the tax man etc and other creditors then that's what you get! However no governement will let a high st bank go bust, the implications are too horrific to comprehend.

[Ethel]

None at all - if they haven't got money, it can't be paid.

However, if it is a UK bank regulated by the FSA, or a foreign bank subscribed and regulated by the FSA, you are guaranteed to get �35k back.

[BertiWooster]

Ethel is correct

However there is one other important thing to bear in mind -and that is the compensation of 35k FSA compensation is per INSTITUTION .

So for example the HBOS GROUP includes -

Halifax
Bank Of Scotalnd
Birmingham & Midshires
Intellegent Finance
Capital Bank
St James Place bank

If for example you had 10k in each of the above and the GROUP went bust - you would only receive 35k - NOT 60K