FSCS protection?

[Bobbyboy]

FSCS protects UK bank accounts up to £85k per person and double that for a couple.
Does that mean that if we have 3 savings accounts in both of our names and in the same bank we have full protection?

[echat11]

FSCS protects UK bank accounts up to £85k per person and double that for a couple.
Does that mean that if we have 3 savings accounts in both of our names and in the same bank we have full protection?

It depends how much you have saved in each account. Joint accounts are covered up to £170,000 per bank.

If still in doubt, send them an email.

https://www.fscs.org.uk/what-we-cove...0automatically.

[PallasAthena]

The protection is £85,000 per person PER BANK. Not per account.

[echat11]

The protection is £85,000 per person PER BANK. Not per account.

Maybe a case of 'mis-selling, you are 'enticed' to open multiple accounts with the same bank, then if it 'collapses', you stand to lose money.
When you open your additional accounts are you warned that you could lose it all and that you would be better off going to other banks.
I'm aware they give you the financial compensation sheet with each account opened, still makes no sense.