Banks 'should give savings warning'

AOL Money Staff
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Smashed piggy bank

Banks should be compelled to warn people when their savings breach the amount that would be protected if their provider went bust, according to a survey of MPs and consumers.


Some 81% of MPs surveyed for the Financial Services Compensation Scheme (FSCS) said that banks and building societies should have to make it clear to savers when their deposits exceed the £85,000 compensation limit that anything above this amount is not protected.
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