Expert Advice 30 September: Today's Top Tip

2. Mon 29th Sept: Find Out If Your Savings Are Safe

< Previous
Next >

key-loose-change. Find out if your savings are safe

< Previous
Next >

2. Mon 29th Sept: Find Out If Your Savings Are Safe (Image 2 of 22)

With Bradford & Bingley the latest victim of the credit crunch, we're all pretty jittery about where our money is and whether it's safe. So are your savings safe - even in a building society? The answer is pretty simple: if your savings (whether straightforward savings, ISAs or Tessas) are with an authorised UK bank or building society, the first £2,000 is protected in full and the next £33,000 is 90 per cent protected under the Financial Services Compensation Scheme (FSCS). More about this on the FSCS website. Got your money in a savings scheme like the Farepak one that went pear-shaped a couple of years ago? We'd consider moving it somewhere safer pretty sharpish. For more advice about money, click here.