Is the �50k guarantee still relevant

Coldicote | 22:01 Mon 27th Apr 2009 | Business & Finance

4 Answers

Much has been said about not having more than �50,000 in any one bank or financial institution, this being the sum that is guaranteed should an institution collapse. When a Bank is to a large extent publicly owned, Lloyds TSB group for instance, is the advice still relevant?

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Ethel

Yes, nothing has changed and your �50k is still guaranteed.

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Coldicote

Question Author

Many thanks,
So much seems to have happened in the last 6 - 7 months I wondered if there had been any changes in this respect.

R1Geezer

In reality though it's totally irrelevant. If we ever got to a situation where the general public where losing savings in main stream insitutions there would be total financial meltdown and money would have become valueless anyway.

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