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MoneyMagpie is working with FSCS
We’re actually excited to announce that now we have partnered with the unimaginable folks over at FSCS (Financial Services Compensation Scheme) to assist educate you, our readers, into a greater understanding as to how the monetary service works, the kind of issues you might be coated for and whether or not now we have help obtainable on this financially making an attempt time.
Over the approaching months our founder Jasmine Birtles is travelling across the UK to host a brand new collection that guarantees to assist us discover out whether or not we’re financially coated.
She is going to check out our pensions, insurance coverage, mortgages, banking and funeral plans and assist us perceive how they’re protected and what we are able to do to ensure that we don’t have any nasty shocks.
We begin the collection by asking the folks on the road whether or not they know who FSCS are and whether or not they’re coated for his or her monetary providers… let’s see what they are saying right here:
What to do should you aren’t coated?
FSCS is just not an insurance coverage firm so that you don’t want an account; anybody could make a declare.
So, when your monetary agency fails, there are two methods you possibly can declare compensation: direct with FSCS at no cost, or by means of a claims administration firm (CMC) who’ll cost a charge to deal with your declare.
FSCS is impartial, free and funded by the monetary providers trade. They had been arrange by parliament to pay again cash to eligible folks when their monetary agency fails.
Disclaimer: MoneyMagpie is just not a licensed monetary advisor and due to this fact info discovered right here together with opinions, commentary, strategies or methods are for informational, leisure or instructional functions solely. This shouldn’t be thought-about as monetary recommendation. Anybody considering of investing ought to conduct their very own due diligence.