How to check you’re covered
The Financial
Services Compensation Scheme (FSCS) is the official
body that can pay you compensation if your financial
services provider fails – known as being ‘in default’.
In simple terms, that means we can pay you
compensation if your financial services provider or
advisor goes into default and you lose money as a
result.
Limits apply to how
much compensation we may be able to pay, and those
limits vary between different types of financial
products. For us to pay you compensation, your
provider must be authorised by the Financial
Services Authority (FSA).
The FSCS is an
independent body set up by government under the
Financial Services and Markets Act 2000. Financial
services providers fund the FSCS and the
compensation we pay.
This simple three-step
guide explains the protection that the FSCS can
provide for your money, and what limits apply to the
compensation we can pay. It’s good to check that
your money is covered now so that you know in
advance what would happen in the unlikely event that
something goes wrong with your financial services
provider. Some examples of financial services
providers are banks, building societies, credit
unions, insurance providers and independent
financial advisors.
The information in
this guide provides a broad overview of the scope of
FSCS’s protection. You should still talk to your
financial services provider(s) or advisor to discuss
FSCS coverage in relation to your specific products
and services.
Click on
below link to check you’re covered.
http://fscs.org.uk/