Belmont Thornton Logo
PPI Claims - About PPI

PPI Claim News

 
Loan Protection: Personal savings to be guaranteed up to £85k

The personal savings guarantee limit in the UK is set to be raised to £85,000 at the end of the year to maintain parity with Europe.

From December 31st, British savers will be eligible for full compensation of up to £85,000 if their respective financial institution collapses. The previous deposit guarantee limit was £50,000.

The move is set to bring the UK in line with member states of the European Economic Area, who are set to raise the limit to 100,000 euros.

Mark Neale, chief executive of the Financial Services Compensation Scheme (FSCS), said: "The new limit is good news for consumers and will provide greatly enhanced FSCS protection for people.

"It comes into force at the same time the Scheme is implementing changes that will see us paying out the vast majority of depositors within seven days. 2011 will bring greater FSCS protection."

British savers' money is covered by the FSCS, while those who make deposits in branches of EEA banks operating in the UK will be covered by the scheme operating in their bank's respective country.

Posted by John Fieldman

Having worked in the city for 19 years, John's main focus is interest rates and corporate finance ADNFCR-2776-ID-800308026-ADNFCR



Bookmark and Share
Tell a Friend
blog comments powered by Disqus

Enquiry Form

First Name 
Last Name 
Mobile Phone
Home Phone
Address Line 1 
Town
County
Post Code 
Email 
Circumstances
Claim Back Mis-Sold PPI Button

Belmont Thornton Limited is regulated by the Claims Management Regulator in respect of regulated claims management activities; our registration is recorded on the website www.gov.uk/moj/cmr number 18273

Belmont Thornton Limited is incorporated in England and Wales, Company number 6621233, whose head office at Unit B11, Kestrel Court, Harbour Road, Portishead, Bristol, BS20 7AN and registered office at Harwood House, 43 Harwood Road, London, SW6 4QP.

Belmont Thornton Limited is registered with the Information Commissioners Office. Registration number Z1728023.

Please note that calls may be monitored for the purposes of staff training.

* Belmont Thornton operates on a "No Win No Fee" basis. This means that there are no upfront costs to pay. Our fee only becomes payable on a successful outcome of a claim. A cancellation fee is payable if you decide that having instructed Belmont Thornton to act on your behalf, and after 14 days of signing your Letter of Authority, you do not wish to continue pursuing your claim with us. The cancellation fee is the reasonable costs incurred for the work undertaken. Please see our terms of engagement.

By using our web-site, you agree that we can place the types of cookies described in our privacy policy on your device.Hide