The Lemon Fool

I am a volunteer at a small theatre which is set up as a charity.

Does the theatre's bank account (greater than £100k) have the same protection as that of a private individual where up to £85k is protected? If not, what would be the best option? At present, we have two accounts with separate banks.

Would banking with a too-big-to-fail bank be safer than a small bank?

supremetwo wrote:https://www.fscs.org.uk/how-we-work/claims-process/small-business-charity/

If a UK-authorised bank, building society or credit union fails, we'll automatically compensate each eligible company depositor up to £85,000.

Your small business, limited company or charity will need to meet certain eligibility criteria to claim compensation with FSCS.
We assess eligibility on a case-by-case basis and it varies for different types of claim.
Legal status will affect eligibility, e.g., if you’re an individual or incorporated entity (such as a corporation or limited partnership).
Charitable status is never relevant to eligibility.

If you’re a small business owner or director of a charity, check if you can claim or contact us if you’d prefer.

Supremetwo - Thanks very much. I'll pass on the information to the theatre trustees.