These include:. Do you want to comment on this article? You need to be signed in for this feature. Here is how the scheme works, how to protect your savings and a list of banks covered by FSCS. The FSCS is a government-backed program that protects your money and compensates you if your bank, building society or savings provide were to fail.
Yes, the FSCS protects your savings and provides you with compensation if your savings provider is unable to pay out. Some of your funds may fall outside the jurisdiction of the scheme.
This is known as a temporary high balance. This is to protect you after a house sale, inheritance or any other temporary high value deposit. You won't have to wait more than 24 hours to withdraw your savings if your bank goes bust.
Find out more about temporary high balances here. Get started now. How would you like to receive your debt help? Online Telephone. Next step. Your name Please enter your name. Who owns the Bank of England today? Find out more What does the Bank of England do? How is the Bank of England independent of the Government? Index to Original Subscribers to Bank Stock You may also be interested in Back to top.
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