Does the ?85000 protected in an account under the Financial Services Compensation Scheme remain protected if the account becomes dormant?
Harry
- posted
5 years ago
Does the FSCS cover dormant accounts?
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- Vote on answer
- posted
5 years ago
I'd suggest that anyone who cared about the answer would be better off taking steps to reset the 15 year timer.
However it looks to me that it depends on whether or not the money was transferred to a reclaim scheme. I would guess that if it hasn't it will treated like any other account, and if it has
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isolates it from the original bank's failure.
I suspect very few people would actually be sure of the law on this, and
you are unlikely to find them on a forum.