by Insignis in Newsletter Archive
So, what is the FSCS scheme and why was it put in place?Deposit guarantee schemes exist to protect depositors against authorised firms that are unable to pay or become insolvent. The European Commission requires all countries to provide a last resort protection to consumers in the event of a bank failure. Rules exist in the form of an EU directive for offering a limited level of protection, faster pay-out and improved internal financing of the schemes by each bank. This provides protection on both an individual front and a wider economic level.
Do you have more questions about the FSCS deposit guarantee and how it affects savers?Insignis Cash Solutions specialises in active management of client deposits including helping clients gain incremental FSCS protection by opening multiple accounts across various financial institutions with a simple one-signature solution.
Cash Management from Insignis spreads funds across the savings and deposit products of 30 banks, with a single and… t.co/QPiLEtMHXI
Our CEO, Giles Hutson, will be presenting at the SSAS Alliance conference on the 2nd July. The conference covers… t.co/3hxJbWQVt1
If you or your clients are holding excess cash, it’s vital that you diversify your holdings to ensure maximum FSCS… t.co/NZI6AOe4Pu
BoE holds off on negative interest rates at today’s MPC meeting. There was recently a lot of talk in the corridors… t.co/KelMyCbbUe
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