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FSCS raise limit to £50k
Limes
Posts: 103 Forumite
BBC reporting that the FSCS has agreed Compensation limit will rise to £50k from next week. Still waiting for full details to emerge. . .
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also reported by sky news and online newspapers - apparently coming into force on 7 OctoberKeep the Faith:cool:0
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About time too!0
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Not enough
USA - $250k
Ireland - 100%
UK - 50kLiquidity is when you look at your investment portfolio and **** your pants0 -
Happy Birthday to meeeeeee :beer: (on the 7th)0
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Definitely not enough. I'm not in favour of a blanket 100% guarantee such as the Irish have gone for, but I think £100k would be a sensible compromise.
Dave... DaveHappily retired and enjoying my 14th year of leisureI am cleverly disguised as a responsible adult.Bring me sunshine in your smile0 -
Although it's relatively meaningless, I still believe the UK should have done what Ireland did, then no more consumers would be panicking, and the banks could then get themselves out of a mess without people withdrawing all their savings.0
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isofa - really? you really actually think that?
These people are british, of course they are going to still rush to a bank if its in trouble and withdraw all their savings, even with 100% protection. Half of them are idiots!0 -
Is brown and Darling thick or what. No wonder billions of pounds are going out of UK banks. Now The British Bankers association are bleating Unfair unfair. They should be putting the pressure on to raise the threshold. Anyone fancy starting an online Downing Street petition
http://petitions.number10.gov.uk/newLiquidity is when you look at your investment portfolio and **** your pants0 -
isofa - really? you really actually think that?
These people are british, of course they are going to still rush to a bank if its in trouble and withdraw all their savings, even with 100% protection. Half of them are idiots!
Fair point indeed, pity though! I wonder what they do when they withdraw their armfuls of cash?!0 -
I'm thinking of moving mine from Kaupthing to a more *British* organisation... perhaps the local pub?Target Cash Net Worth: £25K by January 2012
Progress May-08 19.0%; May-09 40.0%; May-10 63.0%; May-11 58.4%; Jun-11 58.5%; Jul-11 58.9%; Aug-11 58.7%; Sep-11 59.0%
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