Tesco Bank

itsj2

Received an annual statement from Tesco Bank yesterday and with it was a leaflet about the Financial Savings Compensation Scheme with reference to the limit covered being £75,000. MSE tells me it is £85,000 and so, confused, I looked at the Tesco website where again the stated limit is £75,000. Worrying that a name like Tesco don't seem to be able to get it right!

xylophone

http://www.tescobank.com/help/protect-deposits/

They do however direct you to the FSCS's own web site.

https://www.fscs.org.uk/

https://protected.fscs.org.uk/


Your current & savings accounts in UK banks, building societies and credit unions are protected for free, up to £85,000

badger09

Its not just Tesco.

I received a leaflet from Nationwide last week showing the FSCS limit as £75k.

Their website is correct and the leaflet did say information correct as at January 2017. Perhaps they're just saving money by using up all their old leaflets:cool:

Ed-1

They have until June I think to update marketing materials.

isasmurf

In Tesco's defence, the FAQ for the Internet Saver says £85,000.
https://yourcommunity.tescobank.com/t5/Internet-Saver/What-is-the-current-Financial-Services-Compensation-Scheme-FSCS/ta-p/11195

Westie983

Banks have up till June to update marketing materials.

Westie983