WebSep 22, 2024 · The FSCS covers companies that have been authorised by the UK regulators, the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA), like banks, building societies, credit unions or other financial institutions. And because we're a regulated bank, it means your money's protected up to £85,000 per … WebJul 25, 2024 · FSCS Licence Information. The Financial Services Compensation Scheme (FSCS) automatically protects your cash if your bank or building society goes out of business. The protection level for cash deposits is £85,000 per person, per banking licence – so it’s important to check if your savings provider is under the same licence as another.
Who owns who in banking? - Which?
WebYour eligible deposits with Nationwide Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. Any total deposits you hold above the limit are unlikely to be covered. See the FSCS guide to how your money is protected - PDF 914KB (opens in a new window) for ... WebMay 14, 2024 · The Financial Services Compensation Scheme (FSCS) is a failsafe for customers of authorised financial firms. If a bank or other financial provider collapses, customers are covered up to losses of £85,000 per individual per account. The FSCS is a fund set up by several financial bodies and regulated by the Financial Conduct Authority … eiv training classes
What is the difference between Lloyds and Halifax?
WebOct 7, 2024 · Kent Reliance's owner One Savings Bank and Charter Savings Bank merge - but confirm savers will keep double FSCS protection. By Sarah Davidson For Thisismoney.co.uk. Published: 11:22 EDT, 7 ... WebMay 12, 2024 · Lloyds Bank and HBOS have separate banking licenses, so you have separate FSCS protection at Lloyds and Halifax/BoS. The brands operate different products, and are targeted at different demographics. BoS primarily operates in Scotland, Lloyds in England and Wales, and Halifax across the whole of GB & NI. WebJan 20, 2024 · The FSCS will only cover £85,000 per person, per FCA authorised institution. Accounts held in banks or building societies that operate under a shared FCA licence will only be covered once by the scheme, so it is important to know which banks are linked. For example, HSBC and First Direct are registered with the FCA under one licence. food and fermentation industry缩写