Cater-Allen private bank

[jamesb300]

I've got a fair bit of money (to me anyway) in Cater-Allen bank that used to be Flemings. This is in the name of my limited company. In light of the current financial climate, I just wondered if anyone has a feel for how 'safe' this money is, as I understand anything over £35-50k wouldn't be guaranteed. It's now owned by the Santander group, but if they ran into trouble, would the money effectively be in one big pot or the Cater-Allen money 'ring-fenced'. Anyone know?

Cheers, James.

[bob1179]

I'm with Cater-Allen, as far as I know, the Satander Group is one of the few banks not doing too badly during the current financial problems.

[UpTheIron]

jamesb300 said:

I've got a fair bit of money (to me anyway) in Cater-Allen bank that used to be Flemings. This is in the name of my limited company. In light of the current financial climate, I just wondered if anyone has a feel for how 'safe' this money is, as I understand anything over £35-50k wouldn't be guaranteed. It's now owned by the Santander group, but if they ran into trouble, would the money effectively be in one big pot or the Cater-Allen money 'ring-fenced'. Anyone know?

Cheers, James.

I am not a banker, but until recently was a Cater Allen account holder.

1. YOU do not have any money in Cater Allen. A seperate legal entity, a Ltd Company of which I assume you are a Director & Shareholder has funds deposited.
2. If you are a Small Business (as defined in the Companies Act) then your money is guaranteed to the same levels as a personal account.
3. I believe (not checked) that Cater Allen do not have their own FSA license, but are part of Abbey National and therefore part of Santander.
4. As stated elsewhere, Santander are probably one of the safe bets at present.

[grumbledoak]

I've got my business account there, too. Not panicing at the moment as Santander don't appear to be at risk right now. I'd expect £35k/£50k (whatever it is today) to be safe in any case.

[khushy]

move your money - helibeds deliver the same day and do mattresses too!!!

khushy