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FSCS Compensation
cwmoss
Posts: 5 Forumite
I have a deposit bond with a bank that is rumoured to be in trouble. If it goes bust, I know my capital is protected but can anyone tell me what happens to any accrued interest? The bond matures on 15 July and any interest is paid on maturity. Thank you
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Comments
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Accrued interest is covered. Generally you can choose to receive capital plus accrued interest from the FSCS upon submitting your claim, or you can see out the term of your account and receive full interest at the end. If another bank takes over the account you may just have capital plus accrued interest transferred to a new account.
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Which bank is this?
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Metro Bank0
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They have had a rocky patch but more likely they would be taken over than go under.1
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