What if something beyond your control happened to your savings? The FSCS has enlisted top celebrities such as Marvin Humes to help spread the word about Protecting Your Future.
The Financial Services Compensation Scheme (FSCS) is the compensation fund of last resort for customers of authorised financial services firms. It was founded in 2001 with government backing to provide protection for a wide range of financial services to people across the UK. Since then, the FSCS has helped more than four and a half million people and has paid out over £26bn in compensation to folks who have found themselves in precarious financial situations including savers whose banks – such as Icesave and Bradford & Bingley – failed in 2008.
Through its Protecting Your Future campaign, the FSCS aims to build awareness of what it does: protecting up to £85,000 of your savings in the unlikely event that something happens to your bank, building society or credit union. This £85,000 limit covers 98% of the UK population.
For the campaign, FSCS has enlisted five personalities from the world of music, entertainment and sport to talk about times in their lives when their savings were absolutely crucial. One of these personalities is former JLS member Marvin Humes who shares in a series of videos anecdotes about his rise to fame and continued success.
It’s not a pleasant thought – and may seem abstract and very much a downer – but imagine if something were to happen to your bank and you couldn’t get hold of your money. Scares the hell out of me! But it’s good to know there are some safeguards and
While the FSCS can’t give advice to people about how to save, it is hoped stories such as Marvin’s will inspire people to think smart and plan for the future, safe in the knowledge that the FSCS is there to protect their money.
Published in association with the FSCS.
