I am a director of a limited company in the UK. I live here and sell my services within the UK.
If a bank goes bust, by law, a bank has to protect my deposits to up to £85k.
Can I have multiple business bank accounts in different banks so that if deposited money in one of the accounts exceeds £85k I start depositing money to the other bank account?
If I already had over £85k on one of the bank accounts, can I just move money to a different business bank account? Or will it count as a withdrawal and I would have to declare it as for example a dividend?
Does FSCS distinguish between my personal bank account and my company bank account? Or is it treated as one due to the fact both are authorised by me?