Property News · November 21, 2016

FSCS protection set to be revised back up to £85,000


The Brexit referendum has caused a ‘structural shift’ in the pound-euro exchange rate, says the Bank of EnglandThe protection threshold on savings is set to be restored to £85,000 following the collapse in the value of the pound prompted by the UK’s decision to leave the EU.British banks and savings providers are currently obliged to offer protection to savers in line with that offered in the EU. Across the continent savers have €100,000 protected if a bank or building society goes bust, with UK customers being refunded by the Financial Services Compensation Scheme (FSCS). Continue reading…

Source : theguardian.com
Read more…FSCS protection set to be revised back up to £85,000

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