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Normal Topic Protecting Hard Earned Savings in UK (Read 445 times)
fireman sam
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Re: Protecting Hard Earned Savings in UK
Reply #2 - 24. Jan 2017 at 12:43
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Missed what? At the end of January the compensation limit is increasing from £75,000 to £85,000. The amount of money protected by the FSCS is linked to a European-wide protection level of €100,000. The increase is due to the falling value of the pound and is intended to bring the UK level of protection back in line with that €100,000 level.
  
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Kefalas
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Re: Protecting Hard Earned Savings in UK
Reply #1 - 21. Jan 2017 at 19:33
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Buy gold with the excess. I mean the real stuff that you can hide under your mattress. Long=term, it's not going to depreciate.
  
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GeraldinCrete

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Protecting Hard Earned Savings in UK
12. Jan 2017 at 13:36
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In case you missed it, the Financial Services Compensation Scheme which guarantees bank deposits in Britain lowered the protected amount from £85,000 to the lower £75,000 from January 1, 2017. This rule applies to your holdings in any one bank or building society.

I cannot think of a convincing argument why the government should have made this move. Can you? It seems like it is an anti-consumer move.
  

Treat fairly, those who treat you fairly. To shout is a sign of weakness. Confucious may have said: "Don't be easily hurt or offended. Take a deep breath, count to 10. Log off and make a cup of tea.
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