Search results
Results from the WOW.Com Content Network
The FSCS protects UK authorised banks, building societies and credit unions up to £85,000 per depositor in the event of their insolvency. If deposits or savings are in a joint account the total of FSCS protection doubles to £170,000. FSCS protection for deposits is free and automatic.
Deposit insurance or deposit protection is a measure implemented in many countries to protect bank depositors, in full or in part, from losses caused by a bank's inability to pay its debts when due. Deposit insurance systems are one component of a financial system safety net that promotes financial stability.
Since October 2008 UK credit unions are covered by the Financial Services Compensation Scheme (FSCS), which protects savings in banks and similar institutions up to £85,000 (as of February 2017), covering about 98% of people; most members get their money back within a week. [17]
Both protect your money up to $250,000, and both come with the full backing of the U.S. government. The coverage works similarly for both: you get up to $250,000 in protection per person, per ...
In the age of online banking, it's more important than ever before to keep your information safe. In fact, incidents involving financial crimes and money fraud are on the rise. As the world ...
Plus, FDIC insurance protects your money in the unlikely event that your bank or credit union goes under. Higher risk. When investing, you could lose money, break even, or earn a return—there ...
2. Open an account in a different ownership category. If you want to keep all your money in one FDIC-insured bank, you may be able to insure deposits of more than $250,000 by opening different ...
FDIC insurance: What it is and how it protects your money Established in 1933, the FDIC is a U.S. government corporation that protects consumers’ money if a bank were to fail and close its doors.