Are your savings safe? FSCS protection explained

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Information Are your savings safe? FSCS protection explained

Title	:	Are your savings safe? FSCS protection explained
Lasting	:	13.24
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Views	:	8,2 rb

Is this thing european or UK only?
Comment from : PS

Are fixed rate bonds safe? In the UK there is a 62 1 year fixed government growth bond available now br brWill putting my money into this bond protect my money if there is an economic crisis like back in 2008? The banks are not safe anymore, since they changed the bail out rule into a bail in, where by people's bank accounts will be raided to prop up the banks this time, instead of the government paying through the tax payer
Comment from : RuddsReels

Great FSCS pronunciation just kidding Is there a bank which I can have joint account with my wife Protected to £120,000?
Comment from : John Conroy

FSCS wrote back to me, stating that Chip are not covered
Comment from : Reggie Chump

Hi Andy (and everyone) I'm sure that im not the first to ask this but is CHIP a safe place to keep money? (I understand that CHIP doesn't have cover but CLEAR BANK the umbrella company does?
Comment from : simon kinser

Just picking up on the protection limit point you mention The £85k limit is per depositor not per institution So as long as the institution has its own licence you will be covered This includes a couple who each have an account with £85k each or one joint account with £170k, both scenarios would be covered
Comment from : Paulie Paul

No your money in banks is not safe regardless of FSCS guarantees The financial system has already collapsed and its only a matter of time before those pulling the financial strings worldwide launch the CBDCs that they have as their ready made solution to the crisis that they have created Problem, reaction, solution
Comment from : Paul Outdoors

Hi Andy How safe/secure would you say Chase bank UK is at the moment?brI am using them for the 1 cash back but also the easy access savings as they have a higher interest rate I have under 85k in there but with the instability in the USA banking going on I’m not sure if I should stop using it and swap savings to nationwide for example They have lower interest but have local branches seem more accessible What is your opinion/ what would you suggest Thanks
Comment from : H _

Thank you for the explainer about Chip I knew that Clearbank was protected , I felt pretty safe transferring my savings to Chip, this was a good explainer for peace of mind👏
Comment from : krislibertine

Short answer: yes Saved you 13 minutes
Comment from : SGTAngel

If there is a banking crashbrHow will we be compensated brIsn’t the money to bail us all out currently residing in a bank somewhere? Surely they can’t print anymore
Comment from : James Steal

So if a small bank uses a large bank for clearing, does that mean they share the same licence?
Comment from : Michelle Elsom

HI Andy, Do joint accounts get double FSCS protection, ie £170k? Thanks
Comment from : Ivan Galea

What if someone has more than 100000k on their ISA That means it isn’t safe? But only up to 85000k
Comment from : Rak Choudry

Very helpful Andy What is the level of protection for stocks and share in an isa ?
Comment from : ronak brahmbhatt

Another thing worth noting:brbrPensions schemes and isa products like vanguard lifestrategy often have a large potion of their holdings in bondsbrbrBut savings bonds effectively act like bonds, with the added perk of being partially (or fully) FSCS protected (unlike corperate bonds)brHowever, one downside of savings bonds is you can't properly rebalance with them There are ways of sort-of making it work, but it's not quite the same
Comment from : IamGrimalkin

It's worth noting that if you had 100k in first direct+ HSBC, you most likely would not lose 15k if HSBC went underbrbrThe 85k is insured, but the other 15k will be paid out of any remaining assets HSBC have, and most likely they will have somethingbrYou might not get ball/b of the 15k back, and it may take some time, but you'll probably get something back eventually
Comment from : IamGrimalkin

Hi Andy, can you make a video about match betting please?
Comment from : Old-Fashioned

Why are so many replies on here not visible? Seems YouTube is really bad with free-speech now Can't believe some of the innocuous comments that they remove/hide
Comment from : Reggie Chump