Financial services compensation scheme fscs

You’ll keep all the compensation you are owed when you claim directly through us. If your bank or building society fails and can’t pay back. It is the UK’s statutory deposit insurance and investment.

When UK financial services firms fail we help people get their money back. We are a free service that offers protection to your money. It protects up to £80of savings per individual, per financial institution (not just per bank), and also covers mortgages , insurance and investments. This website uses cookies. It covers up to £80of any savings you hold in each official UK financial institution.

Important information about compensation arrangements. An eligible depositor is entitled to claim up to £8000. Financial Services Compensation Scheme.

Here, we explain how the scheme works, and how you splitting money between providers can protect more of your cash. Please note if you have multiple accounts with Hodge Bank, the aggregated total protected is £8000. It applies to institutions such as banks, building societies and credit unions. Customers may be able to make a claim on this scheme if we default in our obligations to them. Depending on the type of firm, this may mean we would not protect you.

Any deposits you hold above the limit are unlikely to be covered. As such their financial standing is linked to that of the Group. Depositors should form their own view of the financial standing of the Group based upon publicly available information.

FSCS leaflet (PDF, 351KB). When it went bust, the money was gone. If you have a joint account, you will each be protected up to £8000. So, £170in total. Printed on paper containing.

I just read the article. It’s written: One of the key benefits of obtaining a banking licence is that customer funds will be protected under the European Deposit Protection Scheme (EDPS). Most depositors are covered by the scheme. The compensation limits vary depending on the type of financial product you hold.

If you qualify for compensation under the Scheme , in respect of deposits with the London branch, the first £80(or £170in relation to joint accounts) of your total deposits with us will be covered under the Scheme. Any total deposits you hold above the limit are unlikely to be covered. As a last resort, you may be entitled to compensation from the scheme if a company was unable to pay your claim against them. It pays compensation to savers if their bank or building society can’t meet its financial obligations. The scheme has changed an along with all other banks and building societies, we need to make sure.

For long term insurance business (such as pension plans and life assurance) the Scheme will cover 1 of the claim with no upper limit. Your eligible deposits with TC Ziraat Bankasi A.