Under UK banking law if a Bank goes Bust and you have more than 35 thousand($60K) in the Bank By law all they are obliged to pay you back as a Creditor is 35 Thousand MAX! So Do think about spreading your cash into other Banks if your bank feels unsteady
As far as I understand it, the 35 K is payable to the individual Not to all the accounts they may hold!

I do know there are people lobbying UK Parliament to get this limit raised to 50K($90K)


What is the Payout situation(by law)Stateside?