Account Protection
Account Protection
When taking out an account, check to see if your bank has signed up to The Banking Code, which states that all banks signed up must offer a fair service and provide certain information to its customers, like APRs. You can check and find more information by visiting the British Banker’s Association website at www.bba.org.uk. You can also find more on the Financial Services Authority (FSA) website, at www.fsa.org.uk
Additionally, there is the Financial Services Compensation Scheme (FSCS), which helps protect people who may lose money they had saved with a recently-collapsed company.
The FSCS awards a total of £31,700 compensation - 100 per cent compensation of the first £2,000, and then 90 per cent of the next £33,000, so make sure you never invest more than £35,000 with a single provider
| savings news |
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| Warning over easy access savings accounts - Thu, 03 Jul 2008 |
| Building Society savings accounts still popular, figures show - Wed, 02 Jul 2008 |
| Alliance and Leicester extends savings account offer - Tue, 01 Jul 2008 |
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