Have you heard of the FSCS?
No? I hadn’t either, but actually as they are so absolutely crucial to our financial security it’ s a really good idea to get an understanding of what they do!
In a nutshell the FSCS, the Financial Services Compensation Scheme protects up to £85,000 of your money (savings), should anything happen to your bank or building society. This £85,000 limit covers 98% of the UK population. Wow.
What’s most fabulous about the FSCS is that the protection it offers is both free and automatic as long as your bank is enrolled in the scheme (most are) You would get your money back within 7 days if anything was to happen. That’s pretty amazing isn’t it and very good to know!
Being sure your hard won money is safe is really important
Here’s what Bruno Tonioli has to say on the matter of money, his background, rise to fame and the importance of securing his money ……fascinating stuff
We also have Jonnie Peacock talking about being a paralympian, gold medals and planning for his future…so inspiring.
Finance for artists and athletes can be tricky as careers are up and down, for them, as for all of us savings are really important for security.
The FSCS was established in 2001, and is backed by the Government. So far it has helped more than 4.5m people and paid out more than £26bn in compensation!
Having your money in an FSCS protected bank is a really reassuring
