Financial Services Compensation Scheme

The Financial Services Compensations Scheme ( FSCS ) is a provider since 1 December 2001 Fund to last instance compensation of consumers of financial services company based in the United Kingdom. It was established the " Financial Services and Markets Act" (Act on financial services and markets ) in 2000 and also secures claims from the time before the beginning of its activity from.

The performance of the FSCS directed primarily to individuals and small businesses. Larger businesses may be reimbursed only in exceptional cases, such as certain insurance benefits. An indemnity is only possible if the FSCS has found the insolvency of one of the state-owned UK Financial Services Authority Financial Services Authority ( FSA) approved company by check. All companies subject to UK Banking Supervision FSA must pay contributions to finance the FSCS.

Fused are claims from bank deposits, investment banking, private real estate finance as well as insurance policies or insurance agencies. It claims arising from insurance contracts without limit to 90 % will be replaced, at legal insurance to 100 %. Claims on financial transactions are also substituted by 100 %, but only up to a limit of 85,000 British pounds ( GBP). Before 31 December 2010, this limit was for pure bank deposits at 50,000 pounds, before 7 October 2008, 35,000 pounds. Until October 1, 2007 is 31,700 pounds were replaced, and although the first 2,000 pounds fully and 90% of additional 33,000 pounds.

Weblink

• Website of the FSCS for German users