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FSCS warns of scam promising $5.7m payment

Posted on 17 February, 2017

The Financial Services Compensation Scheme (FSCS) has warned consumers about a scam email promising high payouts from the lifeboat fund. The body said scammers were promising a payment of $5.7m (£4.5m) in order to entice people to provide personal information. The scam includes a fake form asking people for information as well as a fake […]

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Lifetime ISA fears ‘overblown’

Posted on 12 February, 2017

Savers are planning to use the Lifetime ISA (LISA) to boost their savings pot, rather than as a replacement for their pension, research by True Potential has suggested. The LISA, which will be available to those under the age of 40 from 6 April, has faced criticism from the personal finance sector, with a number […]

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FSCS deposit protection level returns to £85,000 today

Posted on 09 February, 2017

The amount the Financial Services Compensation Scheme (FSCS) protects for deposits in banks, building societies and credit unions today increases from £75,000 back up to £85,000. Joint accounts will in turn benefit from the rise with a new limit of £170,000. FSCS chief executive Mark Neale said: “The £85,000 limit protects about 98% of the […]

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