The Deposit Guarantee Scheme covers deposits held by which of the following?

• A. Charities and large companies.
• B. Charities and trustees of large defined benefit schemes.
• C. Large companies and trustees of large defined benefit schemes.
• D. Charities, large companies, and trustees of large defined benefit schemes.

Answer: (A)

Deposits Guarantee schemes protect money held in banks for non-retail customers, up to a set limit, when a bank fails. The key idea is who counts as a protected depositor. In this context, charities and large companies are covered because they are considered non-retail depositors holding funds in participating banks. This reflects the scheme’s scope for organizational entities rather than individual consumers. Trustees of large defined benefit schemes aren’t included in this protection, so deposits held by those trustees aren’t within the covered categories. The other options mix categories that aren’t jointly covered, but the combination that fits the scheme’s protection in this scenario is charities and large companies.