mary
Member of DD Central
Posts: 698 
Likes: 711
|
Post by mary on Dec 22, 2018 13:57:05 GMT
After the Icesave debacle I was under the impression that regulators had done enough to ensure that we would be protected and that regulated organisations could not disappear with our money (up to the deposit Insured amount). Clearly I was wrong, as it seems that Lithuania is handing out Banking Licences fairly freely, and Revolut is one of those to take advantage... www.theguardian.com/money/2018/dec/22/lithuania-iceland-banking-revolut |
|
bigfoot12
Member of DD Central
Posts: 1,817
Likes: 816
|
Post by bigfoot12 on Dec 30, 2018 10:42:03 GMT
I think that many regulators and politicians are kidding themselves that it can't happen again. Perhaps those who knew how bad it was have retired (or had a nervous breakdown). Regarding overseas regulations, perhaps those in the UK think that they can wash their hands of a non-UK regulated bank and see no need to participate in any bailout of anything not covered by the FSCS - they have put a lot of effort into letting us know what is covered by the FSCS.
|
|
|
|
Post by moonraker on Dec 30, 2018 12:11:49 GMT
Not precisely relevant to this thread, but recently I received this from Ikano Bank:
We’re aware that there has been a lot of talk about Brexit in the news recently.
As we’re a Swedish Bank, we thought you might like to know that your money will continue to be protected by the Swedish Deposit Insurance Scheme until the UK leaves the European Union.
When the UK leaves the European Union, your money will then be protected up to £85,000 (£170,000 for joint accounts) by the UK Financial Services Compensation Scheme.
|
|
michaelc
Member of DD Central
Posts: 5,662 
Likes: 2,967
|
Post by michaelc on Dec 30, 2018 17:33:39 GMT
I'm probably naive but in general I would only consider government backed protection to be 100% guaranteed if that government controls the currency in which I've made my deposit since they are the only people that can legally print more money if required.
In plain terms, any deposits in £ would need to be backed by the FSCS.
|
|
