Compensation scheme to cover savers’ claims up to £50,000
The Financial Services Authority (FSA) has today increased the compensation limit for bank deposits from £35,000 up to a total of £50,000 for each customer's claim. This increase applies from Tuesday 7 October 2008.
Customers with joint accounts will be eligible to claim up to £100,000.Hector Sants, FSA's chief executive officer, said: “There has been extensive debate about the compensation levels. In the
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