I notice Bank of London and The Middle East is not on Martin's list of Banks!

viking1

Now I know it is a bank so does anyone know why it is not on the list? It is fully covered by FSCS so a bit mystified.

Masomnia

I would guess it's because they pay an 'expected return' as a share of profits, rather than interest. So the return isn't actually guaranteed as it would be in a bank account.

innovate

viking1 wrote: »

Now I know it is a bank so does anyone know why it is not on the list? It is fully covered by FSCS so a bit mystified.

Again, not sure what list you are referring to - - if it is the "linked banks" list, it says there:

We checked the FSA registration number on each banks website. If an institution isn't listed it does not mean it is not protected. Last full update October 2011

(Getting on a bit now, that list....)

The only authoritative list is maintained by the FSA.

ses6jwg

Racism. Pure and simple.

NewbieAugust2012

It is FSA authorised and is on their list. It was authorised in 2007 so who knows why it is not on this sites October 2011 list!

Sceptic001

innovate wrote: »

The only authoritative list is maintained by the FSA.

According to the (expletive omitted) useless FSA, even their own list is not authoritative! :mad:

This list of banks is intended to be used solely as a guide. The FSA does not warrant, nor accept any responsibility for the accuracy or completeness of the list or for any loss which may arise from reliance by any person on information in the list.
http://www.fsa.gov.uk/static/pubs/list_banks/2012/aug12.pdf