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The Latest Breaking News from FSCS

Banks’ customers will be protected by up to £120,000 if their provider fails

The new Financial Services Compensation Scheme limit, which is increasing from £85,000, will apply from December 1.

Evening Standard

The new names with best bank savings rates – and how to check they’re legitimate

It’s not often the big-name banks offer the very best savings rates so where can you go instead?

The Independent UK

Bank of England Announce Increase in Deposit Protection Limit for the First Time Since 2017

The standard deposit protection limit covered Financial Services Compensation Scheme will increase in December for the first time since it was set eight years ago.

International Business Times UK

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UK bank and building society customer protection limit to rise to £120,000

Increase of more than 40% from current figure of £85,000 will give more cover if financial firm goes bust

The Guardian - UK

With 8.25% interest on offer, is it time I should invest in retail bonds?

A higher rate of interest can lead to a good return on your money - but there are risks to be aware of

The Independent UK

‘He left us with nothing’: the British investors swindled by a German property firm

Investors in the Dolphin/GPG ponzi scheme run by Charles Smethurst are angry that more is not being done to recover the €1bn owed to them

The Guardian - UK

Savings protection limit could be increased to £110,000 later this year

The limit could be raised from its current level of £85,000 from December 1, under the proposals.

Evening Standard

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Financial lifeboat scheme expects to pay £367m in compensation in 2025/26

While compensation levels remain flat, the levy on firms for 2025/26 is expected to increase, the Financial Services Compensation Scheme said.

Evening Standard

Financial lifeboat scheme expects to pay £363m in compensation in 2024-25

Surplus funds have helped to offset the 2024-25 levy on firms, the Financial Services Compensation Scheme said.

The Independent UK

HSBC fined £57m over ‘serious’ deposit protection failings

Regulator says bank failed to properly implement Financial Services Compensation Scheme

The Guardian - UK

Losing interest in your bank? Plum is a finance app where your spare cash could earn 5.00% VAR

With Plum you could benefit from any rises in the interest rate set by the Bank of England

The Independent UK

As savings rates soar, how to check up to £85,000 of your money is protected

We explain everything you need to know about the Financial Services Compensation Scheme (FSCS) and how to check if your bank is authorised

Daily Mirror

Financial Services Compensation Scheme slashes levy it expects firms will pay

The levy enables the FSCS to continue to provide a compensation service to customers.

The Independent UK

My most memorable day at work: helping a terminally ill customer put her financial affairs in order

As financial services operations manager at FSCS, Ruth Harknett often hears from people in distress, but one particular compensation case stands out where time was of the essence

The Guardian - UK

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The Guardian - UK

‘Menopause is a life stage’: the workplaces where it’s no longer a taboo

With women over 50 the fastest growing demographic in the workplace, it’s no wonder an increasing number of employers are putting frameworks in place to support staff going through the menopause

The Guardian - UK

Why Bank of England is looking to bolster UK protections for savers

Governor has played down repeat of 2007-08 financial crisis but review of payout policy points to unhappy memories

Birmingham Post

Royal Mint sees jump in gold investments amid wider market uncertainties

The coin maker said gold investments have been driven by Generation Z and Millennials

Glasgow Live

Michelle Mone's husband's firm loses veterans thousands from pension funds

Former armed force members were advised to move their money to Financial Provisions Solutions, majority owned by Doug Barrowman, the husband of Glasgow Tory peer Michelle.

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Daily Mirror

Army veterans left out of pocket after advice from firm owned by Michelle Mone's husband

Army veterans lost thousands after moving saved money to Financial Provisions, majority owned by Doug Barrowman’s Isle of Man business Knox Ltd, with thousands paid out

Daily Record

Michelle Mone's husband's company loses thousands from veteran's pensions

One 54-year-old, who fought in Iraq, lost £168,000 when he moved money from his final salary to Financial Provisions Solutions.

Daily Mirror

Couple forced to sell home after mortgage 'ruined their retirement' plans

A retired couple say they ran into trouble with their Northern Rock mortgage when they discovered their homeloan was not what they thought, leading three MPs to step in

Bristol Post

Bristol pensions provider goes into administration on orders of Financial Conduct Authority

Hartley Pensions was instructed by the UK's financial regulator to stop conducting new business earlier this year

Birmingham Post

Hartley Pensions enters administration at request of Financial Conduct Authority

Directors at the Bristol-based self-invested personal pension provider have acknowledged the company is now insolvent

The Independent UK

Pre-paid funeral plan providers held to new FCA standards from Friday

All authorised providers will need to follow new rules, which include a ban on cold calling.

The Guardian - UK

Will my home sale proceeds be protected in my bank account?

Conveyancer will only deposit funds into one account and I may need time to divvy it up elsewhere

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