Your bank savings protected by an extra £10k - thanks to Brexit
The Bank of England is proposing to hike the protection savers get under the Financial Services Compensation Scheme (FSCS) to a maximum £85,000, up from the £75,000 mandated by Brussels.
The FSCS reimburses savers for any savings or deposits lost if their UK bank, building society or credit union goes bust.
The reimbursement level was set at a maximum £85,000 in 2011, or up to £170,000 for joint accounts.
Incredibly, under EU rules it was slashed to just £75,000 from the start of this year, giving savers less protection.
The EU Deposit Guarantee Schemes Directive forces member countries... read more
- 13:36 Game of Thrones star Kit Harington proud to claim Gunpowder drama...
- 13:36 Hare coursers sighted in South Holland
- 13:35 Watch spectacular shooting stars as Earth passes through Halley's...
- 13:35 Chelsea news: Cesar Azpilicueta reveals Blues’ morale is at rock...
- 13:35 Real Madrid news: Karim Benzema’s agent issues Arsenal transfer...
- 13:34 Sheffield property that became magnet for trouble closed down
- 13:34 Could pole dancing soon become an Olympic sport?
- 13:34 Winds of 70mph predicted as Storm Brian expected to sweep in this...
- 13:33 What happens when we die? Study says we might still know what's...
- 13:33 Flying Scotsman investigation at Nene Valley Railway
- 13:33 Employment gap closes in on East Midlands
- 13:33 Norovirus sufferers 'should avoid preparing food for two days'
- 13:33 Police hunt for vehicle used in three Notts crimes
- 13:32 Heading for the heights at Kirkby on Bain school
- 13:31 West Cumbrian hotel nominated for national award
- 13:31 Cambridge Uni issues Shakespeare trigger warnings
- 13:30 Manchester United great Paul Scholes reacted hilariously to...
- 13:30 Teespring is now selling Eat Sleep Rape Repeat and other...
- 13:30 War veterans to switch on Banbury’s Christmas lights
- 13:30 The number of schoolkids taking term-time holiday has RISEN
- 13:30 VIDEO: Banbury fun fair continues
- 13:30 Lack of EU trade agreement would be catastrophic for jobs, says...
- 13:30 You may know you're dead AFTER you die - according to science
- 13:30 Norovirus sufferers 'should avoid preparing food for two days'
- 13:30 You can now go around the solar system on Google Maps - here's how
- 13:29 What would the total distance be if you added up the depth of every...
- 13:29 Sheffield property that became magnet for trouble closed down
- 13:28 Man Utd, Chelsea and Liverpool stars all nominated for Champions...
- 13:28 Grantham Mayor’s Parlour receives old cake topper
- 13:27 What would the total distance be if you added up the depth of every...