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Yorkshire, Clydesdale and/or Virgin Deposit Guarantee scheme
377smiff
Posts: 2 Newbie
Here's an interesting thing in todays mail from Yorkshire Bank (VIRGIN MONEY) about reimbursement should they go down the pan....
""Exclusions list....
Deposit is excluded from protection if:
(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements.""
Am I being pedantic or is it a double negative that has now become the 'new normal'?
""Exclusions list....
Deposit is excluded from protection if:
(1) The holder and any beneficial owner of the deposit have never been identified in accordance with money laundering requirements.""
Am I being pedantic or is it a double negative that has now become the 'new normal'?
0
Comments
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It's a standard clause in many financial institutions terms and conditions, put it into google and they will pop up.0
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shouldn't it read..."have ever been identified"....NOT have never been identified..????0
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No, the exclusion is if funds haven't been suitably identified as being from a legitimate source. If they have been identified then sums are covered for fscs purposes.0
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