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20 th October – Kaupthing compensation forms to be sent out The FSCS has confirmed that it is now sending out compensation forms to individual savers whose savings were not transferred to ING Direct. The FSCS is also sending compensation forms to 2,000 business account holders. The FSCS has stated...
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Yes, these are deposits under the scheme. The scheme covers all the funds in the account, both your original capital and the interest earned. So if your savings are approaching the £50k mark then you'll want to have a look at transferring some of this to avoid a lack of protection in the future...
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The FSA have just announced that the Financial Services Compensation Scheme limit is to increase to £50,000 from 7 October. So each depositor now gets £50,000 protection (£100,000 for joint accounts). This is good news for UK depositors. This applies to bank deposits only and doesn't...
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Many banks have offshore branches operating accounts in sterling and other currencies and which pay interest gross. Where your bank is based will define what your protection is: Isle of Man – protection is available for up to 75% of £20,000 savings; J ersey – deposits are not protected...
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Many well known banks operating in the UK are based in the European Economic Area, which is made up of all EU Member Sates, plus Iceland, Norway and Liechtenstein. These include ING Direct and Icesave. All EEA banks have to offer a minimum depositor protection of €20,000, but some of those operating...
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The Irish Government has implemented a minimum protection of €100,000 for depositors with Irish based banks. On top of this, depositors with the largest Irish banks have been given extra protection of 100% of their money, without any upper limit. This applies until October 2010. This includes most...
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The UK Financial Services Compensation Scheme ensures that all deposits up to £35,000 are protected. For UK banks an ‘institution’ means the firm which is authorised for ‘Accepting Deposits’ by the Financial Services Authority. The scheme assumes both parties own half the...
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The Savings Deposit Guarantee for UK Banks is set to increase after Gordon Brown pledged to do “whatever it takes to protect people’s savings.” UK Savings Deposits are currently guaranteed up to £35,000 per person, per institution under the Financial Services Compensation Scheme...
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Bradford & Bingley have been nationalised. Under the terms of the arrangement Bradford & Bingley’s £50bn mortgage and loans book will be nationalised and Abbey (owned by Banco Santander) will buy Bradford & Bingley’s £20bn savings business and branch network. The Treasury...
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So, Bradford & Bingley has gone then. http://news.bbc.co.uk/1/hi/business/7641193.stm The BBC has reported that Bradford and Bingley is to be nationalised, with the government taking control of Bradford & Bingley's £50bn mortgage and loans book, and Abbey buying Bradford & Bingley's...
