FSA to raise consumer awareness of deposit protection

Friday, 10 February 2012 12:32 Written by traceyevans 0 Comments

The Financial Services Authority (FSA) is making it obligatory for all banks, building societies and credit unions in the UK to prominently display, in every branch and on every website, how much compensation savers could claim in the event of an institution failing. This is part of a continuing effort by the FSA and the Financial Services Compensation Scheme (FSCS) to improve confidence around compensation by increasing awareness of deposit protection.

Deposit accounts – the good, the bad and the ugly

Wednesday, 16 November 2011 15:32 Written by traceyevans 0 Comments

On Thursday March 5th 2009 the Bank of England reduced its base rate to 0.5% where it has remained ever since – and with fears about European defaults and a possible double-dip recession stalking the economy, it is unlikely to rise in the near future. Indeed, some economists are predicting that any rise before 2014 is now unlikely.

If you’re a borrower – especially one whose mortgage is linked to base rate – that’s great news. But supposing you’re a saver? In particular, supposing you are a cautious saver – someone who doesn’t like taking risks and prefers the security of a deposit account?

Generation gap – educating the young about finance

Wednesday, 26 October 2011 07:47 Written by traceyevans 0 Comments

Research by Aviva surveyed 2,000 UK consumers in July 2011, including 988 over 50s. The research looked specifically at what advice the over 50s would give younger people about their finances.