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Deposit protection extended for mutual savers
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Brian_Bullocks
Posts: 297 Forumite
Thousands of building society savers who stood to lose deposit protection under proposed mergers will benefit from rules introduced yesterday by the city watchdog. The Financial Services Authority (FSA) said that merged societies could offer a compensation limit of £50,000 on accounts in each society, provided these continue to operate under different brands.
http://www.timesonline.co.uk/tol/money/savings/article5247022.ece
According to the report, Chelsea BS is to be taken over, first i've heard of this and i have an account with them :eek:
http://www.timesonline.co.uk/tol/money/savings/article5247022.ece
According to the report, Chelsea BS is to be taken over, first i've heard of this and i have an account with them :eek:
I used to have a signature but it disappeared and I just couldn't be bothered writing another, so please feel free to ignore this.
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I think they have made a muck up here TBH surely it is the Cheshire not the Chelsea that they are joining with?Nationwide said that it would do so when it merges with Derbyshire Building Society on December 1, and — subject to FSA approval — with Chelsea Building Society a fortnight later.0
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