How Safe

[JinnyJoan]

Now that I am in the throes just a few form filling and I will be transferred to my new bank.

Just wondered how safe is our money in the bank.  Recall reading some years ago that your money is covered by FCA for £85,000 - would that be true?  

 

[bhg481]

Yes, £85,000 for each separate banking organisation ie, not each separate bank.Some organisations own several banks so, if you have money in several banks owned by the same company, you are only covered for £85,000, not £85,000 for each bank.

[JinnyJoan]

thanks BHG