Does the Hinckley and Rugby participate in the Financial Services Compensation Scheme?
• Yes. Under the Scheme, payments are limited to a maximum of £50,000 of an investor’s total shares/or deposits in a building society. The payment is calculated by reference to all the investor’s protected shares with, and deposits in, the society. Therefore, for example, if a claimant had two separate accounts with the society, one containing £2,000 and the other £1,500 he or she would receive £3,500. In the case of a joint account each joint owner is treated as having a claim for his or her share, and unless there is evidence about their respective shares, they will each be regarded as entitled to an equal share. For example, if two people have a protected investment of £120,000 the maximum compensation to each would be £50,000, which would usually mean a maximum total payment of £100,000.
