FSCS Fast Payout

Updates and views on the UK's Financial Services Compensation Scheme reform, leading to faster payouts for depositors

Retired Member 

Industry is ready to invest GBP 900 million on Fast Payout?

According to E&Y Fast Payout study, estimated cost to industry of proposed requirements are as follows Requirement Estimated Cost (GBP in Millions) % of total cost Data Cleansing 196.5 22 Eligibility Account flagging 135.2 ...

18 March 2009 /retail

Retired Member 

FSCS Fast Payout Vs Market Confidence

The Financial Services Compensation Scheme (FSCS) is the UK’s statutory compensation fund for financial defaults. This means that it is responsible for the payment of compensation to eligible customers of a financial firm if that firm – including banks, building societies and credit unions (deposit takers) – is unable to pay claims against it. U...

16 March 2009 /retail