Investment & Investing

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inchpincher

How do companies with cash reserves >£85K protect themselves from losing the lot if their bank goes busto?

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Matt101 in reply to @inchpincher

Move some into a business savings account with different institution

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inchpincher in reply to @Matt101

Do they do this in reality though? What if the company had >£1M?

I gave up trying last year as the KYC/application process with a different bank was such a ball ache and there were very few options for business savings. Admittedly I haven't looked recently.

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