| Link(s): | Top 6 things people get wrong about FSCS | FSCS Top 6 things people get wrong about FSCS | FSCS Podcast episode 43 transcript Insurance protection & compensation | Check you’re protected | FSCS |
Context
FSCS has published a consumer-facing article about its latest podcast (along with a transcript of the podcast) providing context to what it sees as the top six misunderstandings about FSCS.
Key points to note and next actions
The misconceptions explained are:
- FSCS is run by the government or the financial regulators
- FSCS fails firms itself
- FSCS is funded by taxpayers
- Consumers / claimants have to pay to make a claim with FSCS
- FSCS only protects bank accounts (highlighting in particular its ‘insurance protection’ page)
- What ‘decisions made’, ‘claims paid’ and ‘customers helped’ mean