Summary
WITHOUT wishing to sound jingoistic, last week's events in Iceland, culminating in the country's failure to honour its obligations to UK savers, should ring an alarm bell with all those who have money with a foreign-owned bank.
Unless you have the full protection of the Financial Services Compensation Scheme, move your money to a UK bank or building society.See the full content of this document
Extract
Stay at Home to Keep Your Savings Safe
A host of foreign banks have made hay in the UK by paying attractive interest rates while assuring savers that the compensation schemes in their homeland (be it Iceland, Ireland or the Netherlands) ...
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