Banks told to display 'your money is protected' notices - Daily Telegraph
The notices will also have to state whether banking licences are shared with another brand, as in this case customers who have money in both are still subject to an overall compensation limit of £85,000.
For example, Halifax and Bank of Scotland – which also own BM Savings – count as one group, whereas NatWest and Royal Bank of Scotland are treated as separate entities by the FSCS.
Andrew Bailey, the FSA's director of UK banks and building societies, said: "Customers need to feel confident about their money and to do this they need to know what the compensation limits are and which scheme would provide cover in the event of a bank, building society or credit union failure.
"Too many people assume that because their branch is located on a local high street in the UK, they are covered by the FSCS. This is not true for UK branches of EEA [European Economic Area ] banks where the home country's deposit guarantee scheme applies."
He added: "Banks, building societies and credit unions will have to display these compensation stickers or posters in the branch window along with a sticker at the cashier's window or desk and a further poster in a prominent position inside."
Similar stickers must also be displayed on websites. The rules will take effect on August 31.
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