Financial Services Compensation Scheme
Since the collapse of Northern Rock, and the continuing effects of the “credit crunch”, a lot of people have had concerns about whether money in the bank is safe. Many people are now aware of the Financial Services Compensation Scheme This was set up under the Financial Services and Markets Act 2000 and it protects deposits, insurance policies, insurance broking, investment business and mortgage advice.
Two guides on the Financial Services Compensation Scheme are available as 'Related Documents' (see left):
- Version 1 is client focussed
- Version 2 is slightly longer and gives guidance on how companies can open accounts that are 100% guaranteed
In addition, a guide to the Federal Deposit Insurance Scheme in the USA is also available as a related document (see left).