Visit Professional Section

Questions And Answers

 

FSA Compensation query

asked by Henry Collins posted 2 Years ago at 11:11
A Quick hypothetical, does the £85,000 limit includes shares as well as savings e.g. if I had savings of say £50,000 and a sharedealing account with £40,000 of shares, all with say Halifax would it be covered or does the compensation only cover savings?
1-1 of 1 Answers
Stephen Pett answered 2 Years ago at 17:47, last modified: 2 Years ago at 14:56
If the Halifax went under, you wouldn't lose the shares, which would not be owned by the Halifax.
he maximum levels of compensation are:

Deposits: £85,000 per person per firm (for claims against firms declared in default from 31 December 2010).

100% of £85,000.
For more details visit our Deposit Limits page.

Investments: £50,000 per person per firm (for claims against firms declared in default from 1 January 2010).

100% of the first £50,000.
For more details visit our Investment Limits page.

Home Finance (e.g. mortgage advice and arranging): £50,000 per person per firm (for claims against firms declared in default from 1 January 2010).

100% of the first £50,000.
For more details visit our Home Finance Limits page.

Insurance Business: unlimited.

90% of the claim with no upper limit. Compulsory insurance is protected in full.
For more details visit our Insurance Limits page.

General insurance advice and arranging: unlimited (for business conducted on or after 14 January 2005).

90% of the claim with no upper limit. Compulsory insurance is protected in full.
Quote
 
 

About Q&A

Get your questions answered by a unique network of professionals and fellow consumers for free. Share your knowledge and experiences by answering other consumer questions from the Total Investor community.

Q&A Categories