Financial Services Compensation Scheme: Difference between revisions
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imported>Doug Williamson (Update guaranteed amount payable for 2017.) |
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With effect from | With effect from 2017, the guaranteed amount in the UK is limited to £85,000. | ||
(It was | (It was £75,000 in 2016.) | ||
Revision as of 11:46, 10 January 2018
(FSCS).
The UK scheme that guarantees certain bank and building society depositors' funds - subject to limits - should the bank or building society fail.
With effect from 2017, the guaranteed amount in the UK is limited to £85,000.
(It was £75,000 in 2016.)
Similar deposit guarantee schemes operate in the majority of developed economies, under different names and with differing conditions and degrees of formality.
