[Osmf-talk] Treasurer's Report for the 2018 AGM

Tom Hughes tom at compton.nu
Wed Dec 12 11:32:37 UTC 2018


On 12/12/2018 11:29, Tom Hughes wrote:
> On 12/12/2018 10:57, Frederik Ramm wrote:
> 
>> On 12.12.2018 10:51, Andy Allan wrote:
>>
>>> The other large balances we hold are with Barclays. Admittedly a much
>>> smaller risk that losing access to PayPal, it's worth noting that only
>>> the first £85,000 GBP is covered by the FSCS guarantee. Is this a
>>> concern to the OSMF?
>>
>> It's not something that we have ever thought about. Is the FSCS
>> guarantee even valid for non-natural persons?
> 
> Not generally, no. The conditions say:
> 
>    "You’re a private individual (although some businesses and charities
>     may be eligible, depending on the type of claim)."
> 
>    from https://www.fscs.org.uk/your-claim/eligibility-rules/
> 
> I haven't managed to find details of the exceptions yet...

I think bank deposits might be covered actually. Going to the
leaflet here:

https://www.fscs.org.uk/globalassets/disclosure-materials-2017/201610-
fscs_awareness_jan2017_web-int-1.pdf

on page 8 we have:

"In general, individuals and small companies can claim compensation
  from us. In the case of deposits, large companies are also able to
  claim compensation, although some exclusions may apply."

Tom

-- 
Tom Hughes (tom at compton.nu)
http://compton.nu/



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