S1E10: FSCS - Are your savings and investments protected?
What happens if your bank fails? Or you get bad financial advice?
Making Money · Damien Jordan & Timeyin Akerele from Most
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Show Notes
Financial institutions like banks have sometimes failed, so we want to know what happens to your money if they do. It’s a legitimate fear so we’re sitting down with Emma Barrow from the Financial Services Compensation Scheme (FSCS). The FSCS are the ‘last resort’ who will pay you back your money if your bank fails, up to £85,000 per person per bank - but it’s a bit more complicated than that.
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