Lenders embrace FSCS training scheme - Banking - News - Moneyfacts


Lenders embrace FSCS training scheme

Lenders embrace FSCS training scheme

Category: Banking

Updated: 20/08/2012
First Published: 20/08/2012

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

Nationwide Building Society, Royal Bank of Scotland and HSBC have confirmed they will be adopting the Financial Services Compensation Scheme's (FSCS) latest training scheme.

The programme, created by the Financial Skills Partnership, will give staff the necessary skills to help inform consumers of the protection available for savings and current accounts.

New Financial Services Authority (FSA) rules, set to take effect from the 31 August, will require all financial companies registered in the UK to promote the FSCS by displaying posters in branches and provide protection information online.

Mark Neale, chief executive of the FSCS, said: "The banking crisis showed how important it is for consumers to have clear information about FSCS protection. From the end of August consumers will be able to see in branches and online how their savings are protected.

"As well as this visible reassurance it is vital they receive the correct information from front-line employees who serve customers."

Find out how your savings are protected in our Depositor Protection Guide.

Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.

Related Articles

More people are switching current accounts

Competition in the current account market remains intense, which means if you’re not happy with your account for any reason, now’s a great time to switch! Happily, more and more people seem to be getting in on the switching action...

Financial services complaints continue to fall

Many people feel dissatisfied with their financial providers at times, but happily, it looks as though the most serious complaints are becoming less and less common.

Contactless spending hits yet another record

Contactless spending is going from strength to strength, hitting new records on a seemingly monthly basis - and it’s just broken yet another one, with monthly contactless spending having passed the £2bn mark for the first time.