New compensation limits to cover savers’ claims up to £50,000
The FSA have announced that it will be increasing the level of compensation available under the Financial Services Compensation Scheme (FSCS) to £50,000. This will be effective from Tuesday 7th October 2008. Customers with joint accounts will be eligible to claim up to £100,000 per total deposit, per authorised institution
cahoot is owned by Abbey, part of the Santander Group
Santander is an authorised deposit taker under the Financial Services Authority. Therefore where you hold deposit accounts with both Santander and cahoot, for the purposes of calculating compensation entitlement under the FSCS, you would only be entitled to claim up to a total of £50,000 per person, per total deposits held with both Santander and cahoot.
Why should you save with us?
In addition to the increase in the FSCS compensation limit, you have the added piece of mind that Abbey’s parent company, the Santander Group, is one of the worlds largest banks:
- Santander is one of the 10 largest banks in the world by market capitalisation
- Santander has an AA* credit rating and a strong retail focus
- Santander has over 65 million customers with more branches worldwide than any other international bank
All of which adds up to even more peace of mind when you save with us.