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The UK branches of foreign banks from the European Economic Area (EEA) have to specify that their customers are not covered by FSCS and clearly state which national scheme provides protection. On 14 January 2013 FSCS launched a consumer awareness programme, aiming to reassure consumers and boost confidence, thereby aiding 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]
Download as PDF; Printable version; In other projects Wikidata item; Appearance. move to sidebar hide. FSCS may refer to: Financial Services Compensation Scheme ...
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The sector contributed a gross value of £86 billion to the UK economy in 2004. [3] The industry employed around 1.2 million people in the third quarter of 2012 (around 4% of the British workforce). The estimated amount of total taxes paid by the Financial Services Sector in the year to 31 March 2012 is £63bn, 11.6% of the total UK government ...
Prior to 31 December 2010, deposits with building societies of up to £50,000 per individual, per institution, were normally protected by the Financial Services Compensation Scheme (FSCS), but Nationwide and Yorkshire building societies negotiated a temporary change to the terms of the FSCS to protect members of the societies they acquired in ...
If your deposits exceed the $250,000 FDIC insurance limit, talk to your bank about the insurance status of your deposits and your options for insuring all of your savings in-house.
FSCS: Financial Services Compensation Scheme – the UK's statutory deposit insurance and investors' compensation scheme for customers of authorised financial services firms. CGS: Credit Guarantee Scheme – a scheme introduced in 2008 allowing banks to issue debt guaranteed by the government. The scheme closed in October 2012.