Can you insure your bank account? i.e have all your money recompensated by the insurance company incase of bank failure.

Question

Can you insure your bank account? i.e have all your money recompensated by the insurance company incase of bank failure.

In: 0

Answer 1

I don’t know where you are, but in the UK banks are part of a system that guarantees customers get their money back if the bank fails. There’s a maximum amount, which I think is £80k but I’d need to check. Other countries probably have similar.