Reply To: Bradford & Bingley collapse.

#86578

Anonymous
Participant

Shakeel that is true but foreign banks may have a compensation scheme in their own country which would be topped up by the Financial Services Compensation Scheme (FSCS) to £35,000. For example for Icelandic banks the first 20,887 Euros or Sterling equivalent is covered by their deposit protection scheme. In the event of insolvency of an Icelandic bank a claim would have to be made to both schemes.