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Financial Services Compensation Scheme |
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Bath Building Society is a member of the The Financial Services Compensation Scheme (FSCS) that was established under the Financial Services and Markets Act 2000. The FSCS is the UK's statutory fund of last resort for customers of authorised financial services firms. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. FSCS is an independent body, set up under the Financial Services and Markets Act 2000 (FSMA). The limit of compensation payments under the Scheme is 100% of the first £50,000 of an investor’s total shares and/or deposits in the Society. Most investors are covered, including individuals and small firms. However, large companies/partnerships, overseas financial services institutions, and certain pension funds are not covered. Further details can be found on the FSCS website http://www.fscs.org.uk/. |
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