Mizrahi Tefahot Bank Ltd

masonic

The FCA (or PRA) sometimes carry out supervisory or enforcement action against a firm that is not complying with their obligations. This can result in restrictions being placed on their authorisations, or they could lose some of their regulatory permissions. This would require them to cease certain activities and repay savers and/or investors. Sometimes a firm will voluntarily withdraw from an activity, in which case they would have a plan for winding down operations and either repaying customers or transferring the business elsewhere. None of this would jeopardise FSCS protection as they were authorised when the customer entered into the agreement with them.

The FCA and PRA can be thought of as broadly the same. They deal with different aspects of financial services, although there is some overlap. For example, if you have a credit union savings account, you may find the PRA is more responsible for regulating these.

miss_curly

@masonic ... fantastic info, thanks so much for your time

Ed-1

Ayr_Rage said:

It has the full £85,000 FSCS protection, as do all results on moneyfactscompare.co.uk where this screenshot is from

Does anyone know if this account was available through Raisin when it was 5.2%?

I've just opened it at 5.11% (to get the £100 cashback) but it's now dropped to 5.06%.