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Uk Banking And Savings Groups

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If a person holds accounts with two or more firms covered by a single authorisation – for example two or more firms in the fourth column covered by the same Firm Reference Number (FRN) – then the FSCS will only pay up to the maximum limit of £50,000 in total, regardless of how many different institutions a person holds accounts with and/or the number of accounts that they hold.


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There is a useful table on Martin Lewis's Money savings expert website which shows which institutions belong to a single system e.g. Santander. etc.

Personally. I think cash deposits should be covered by the FSCS to unlimited value. Us savers are being royally shafted.

Edited by luckygirl

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