Do u.k. banks guarantee 90% or 100% of first £35,000 in a savings account should the bank default/go under???hey you, YES YOU, be a good sport and help me answer this question. Thank you =) |
Do u.k. banks guarantee 90% or 100% of first £35,000 in a savings account should the bank default/go under???hey you, YES YOU, be a good sport and help me answer this question. Thank you =) |
Pretty much its 100% - although not quite as simple as that (as you have to fulfil certain criteria).
It used to be something like 100% of the first £2,000, then 90% of the remaining up to £33,000 I think...
But in October after the Northern Rock crisis it was upped to 100% for the first £35,000 to try and restore faith in banking.
Full details can be found here:
http://news.bbc.co.uk/1/hi/business/7021...
I believe it is 100%.