In a bid to get people to save more, the FSCS (Financial Services Compensation Scheme) are aiming to raise awareness of this scheme which provides protection to you should your bank, building society or credit union fail.
This scheme has been around for quite some time now, since 2001 in fact, and is backed by the Government to protect up to £85,000 of your savings per authorised financial services institution that you have saved with. The best thing about it is that it’s completely free and automatic.
This campaign carries a strong message – that people from all backgrounds and walks of life should have confidence to save for their own futures. With a Government backed scheme there is no need to fear having your money tied up or lost should your financial institution fail. Should they fail, then FSCS will ensure you get your money back within seven days. Since its inception, FSCS has helped more than 4.5m people and paid out more than £26bn in compensation including high street names like Bradford and Bingley amongst many others.
So with this fantastic peace of mind, there is no reason why you shouldn’t plan and save for your future, safe in the knowledge that FSCS is there to protect your money.
In this interview, Monica Galetti speaks about her background, career and what money means to her and her family. Why not watch and see what you think?
Do you think you will do the same and save for a rainy day? What about when you have a child? How will you protect your money and to protect your future?
Disclosure: this is a collaboration post.
