economonkey

In the UK the government has a system called the Financial Services Compensation Scheme designed to protect savers’ deposits in the event of a bank collapsing, which seems to be happening every other week at the moment. If a bank, building society or credit union goes bust, the government will refund your money within certain […]

In case you didn’t already know this, the first £35,000 of savings you deposit in a bank or building society are guaranteed by the government in the event of that institution collapsing. Judging by the mass panic amongst Northern Rock customers last year, it seems likely that most people aren’t aware of this safety net. […]