In addition to the undertaking issued by our parent, deposits made with Yorkshire Guernsey are now covered by the Guernsey Banking Deposit Compensation Scheme.

As a licensed bank in Guernsey, Yorkshire Guernsey Limited is a participant in the Guernsey Banking Deposit Compensation Scheme (the 'Scheme') established by The Banking Deposit Compensation Scheme (Bailiwick of Guernsey) Ordinance, 2008 (the 'Ordinance'). The following is a brief summary of the Scheme, but is not intended as a substitute for the actual wording of the Ordinance, a copy of which is available on request.

• The Scheme only applies to 'qualifying deposits', which broadly means deposits made by natural persons for their own benefit; with a few limited exceptions such as, for example, deposits made by trustees of retirement annuity trust schemes, the Scheme does not apply to companies, trusts, partnerships or charities.
• The Scheme will provide compensation in the event that a Licensed Bank is unable to repay its depositors. Under normal circumstances, payment will be made within 3 months of receipt of a valid claim form.
• Compensation is limited to a maximum of £50,000 per individual claimant; in the case of a joint account each depositor would be entitled.
• Total Scheme compensation in any five year period is limited to £100 million. If claims exceed this cap, compensation would be reduced pro rata. This cap also means that compensation in respect of any one bank cannot exceed £100 million.
• The amount payable may be reduced if the Bank has any contractual right of set-off against the account. The Scheme is entitled to recover compensation from any funds subsequently paid out by the Bank.
• Further information and a leaflet about the Scheme is available at:

Website: www.dcs.gg
Telephone: +44 (0) 1481 722756
Post: PO Box 380, St Peter Port, GY1 3FY

Deposits made with Yorkshire Guernsey are not covered by the Financial Services Compensation Scheme under the Financial Services & Markets Act 2000.