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Savers should also think about how robust, this guarantee is. Millions of savers stacked in Icelandic banks when they offered rates of market-beating. On the surface, these deposits are protected by the Icelandic protection regime - which itself is regulated by the European authorities. But when the collapsed banking system of the country, it appeared that there is insufficient reserves to pay for the British savers. The United Kingdom thousands have seen their savings disappear if our own Government is reached and paid for it.

Even though it may seem intuitively more risky to put money in the banks of the countries beyond the European economic area, these institutions have set up a UK subsidiary to offer savings here.This means that they are authorised by the Financial Services Authority and within the jurisdiction of the FSCS.ainsi savers with these banks have the same protection if one of these banks will bankruptcy as they would if one of our banks hits the buffers.

The limits of protection apply by the Bank, not per account.If, for example, you have an old account from the Abbey of ￡ 50,000 and ￡ 50,000 in a former Bradford Bingley account - which are now owned by Santander - your money are all fully protected under the FSCS.

To further complicate matters, the new European rules, presented at the beginning of next year (January 1) will be to ensure all countries of the European economic area (which includes all countries of the EU, more Iceland, Liechtenstein and Norway) offer minimum 100,000 euros.Cela protection means that available in our own FSCS compensation will be triggered to match the it. at about current exchange rates ￡ 83,000 (or ￡ 166 000 for the joint accounts) will be guaranteed.

Below, we describe the terms of remuneration of some of the most popular account overseas:

Bank of the Ireland
This single bank has approximately two million savers United Kingdom-based filed approximately 10 billion pounds in its accounts, through its joint venture with the post office. Since the beginning of this month, these savers are covered by the FSCS based United Kingdom, which protects the first tranche of ￡ 50,000 for deposit.
Previously these savers would have had to seek protection of deposits irlandais.Mais program of the Ireland launched today a subsidiary based in United Kingdom, which allowed him to protect these accounts under the FSCS, as shown above.

Anglo-Irish Bank
This was the worst hit banks irlandais.Il has 100,000 UK savers who hold a range of products, including savings account easy access and more links déterminée.Tous would claim by arrangement of Irish compensation - Irish system protection filing - should the Bank go.

The scheme currently offers "unlimited protection" for most guaranteed épargnants.La was given by the Irish Government to the financial crisis when concerns were raised about the stability of the banks in the country.

However, some customers with some fixed-rate products only receive a maximum protection of 100 000 euros (this depends on when the account was opened).It should be noted that "unlimited" guarantee the Irish Government will be removed in June 2011, when the new limit of Europe across 100,000 euros will be applied instead.

There were concerns about knowledge if the Irish Government would be able to honor this guarantee in front of a widespread and systematic collapse of its banks.However, the fact that the European Union seems to be ready to provide financial assistance should enhance confidence in the banking system.

Allied Irish - Allied Irish Bank or AIB as it is often called operates a subsidiary authorised UK has always fallen under the jurisdiction of the FSCS.

ING DIRECT

This popular Dutch Bank offered based on the United Kingdom for a number of years, savings accounts is covered by deposit insurance néerlandais.Cela program has been increased to offer protection 100,000 euros per person.

Bank of Cyprus
This also offers complete protection for 100,000 euros.devrait UK Bank consumers go under savers must claim the Cypriot regime (the Central Bank of Cyprus deposit), instead of the British authorities.

Bank ICICI Bank of Baroda; AK Bank

These banks are based in countries outside of the economic space européen.Les first two are Indian, while the AK Bank based Turquie.Cependant banks, all have subsidiaries UK FSA authorised, which means they are completely covered by the FSA.

The Crown dependencies

The UK scheme do offer no coverage for subsidiaries of Bank are based in the Channel Islands, Gibraltar or the island of Man.Bon number "offshore" sites offer preferential rate savings, but investors should be clear that they cannot have the same level of protection in the event of a failure of the Bank.

After the collapse of the Icelandic banks, those who had their money with the Bank Landsbanki (who also owned IceSave) Guernsey branch has lost up to one-third of their économies.Des similar problems were known with the arm in the offshore of Kaupthing Singer based in the Isle of man.

Each of these dependencies runs his own arrangements of compensation, many of whom have been improved since the crisis Bank islandais.à Gibraltar, that the first EUR 50 000 is protected by its guarantee; scheme while in Guernsey, Jersey and the Isle of man, up to ￡ 50,000 is protected.

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