Does anyone know if there is any particular reason why this is soddenly the message on the Nationwide web site when you log on. I never received this last year during the crisis. Is there something we should know about?
Important information about compensation arrangements
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £50,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £50,000 each (making a total of £100,000). The £50,000 limit relates to the combined amount in all the eligible depositor's accounts with the building society, including their share of any joint account, and not to each separate account.
For further information about the scheme (including the amounts covered and eligibility to claim) please click here, ask at your local branch, refer to the FSCS website
www.FSCS.org.uk or call 020 7892 7300.
John Crossley
Head of Current Accounts