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Deposit guarentee.

john_cappa · 2011-07-12 10:33:00

I have circa 130000 on deposit in one of the guaranteed banks in various accounts. 40,000 of it is in my name with the remainder in joint names (90,000). The fact that it is on joint names does this mean my overall amount is below the 100,000 threshold for guarantee? i.e. my 85,000 is guaranteed?

12-07-2011 10:33am

#1

john_cappa

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I have circa 130000 on deposit in one of the guaranteed banks in various accounts. 40,000 of it is in my name with the remainder in joint names (90,000).
The fact that it is on joint names does this mean my overall amount is below the 100,000 threshold for guarantee? i.e. my 85,000 is guaranteed?

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Comments

#2 12-07-2011 10:59am

unclebill98

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Your covered soley for 100k

So yes..

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#3 12-07-2011 11:42am

john_cappa

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cheers!

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#4 12-07-2011 2:16pm

unclebill98

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And per bank.

So you can spread the wealth around.

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#5 13-07-2011 2:18pm

Kennie1

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Regardless whether its all in your name or split the first 100k is covered by the deposit guarantee scheme and the remainder is covered by the Eligible Liabilities Scheme so you dont have to worry unless the Government defaults on it's commitments.

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