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Ask these key questions to make sure your money is protected

Blog posted by: Jess Spiers, 04 September 2020, Protection.

Choosing a financial product can be tricky and many of us don't feel confident we know what to ask before we commit. Arm yourself with these essential questions to ask your provider so you know what FSCS protection is available before you buy.

Ask these key questions to make sure your money is protected

Deciding which financial product to choose can feel really daunting. Whether it's opening a new bank account, picking an insurance policy or moving your pension, it's easy to feel confused and overwhelmed. 

Even if you consider yourself to be financially savvy, it pays to make sure you know exactly what protection is available before you sign up.

We at FSCS want you to feel confident and in control of your finances. That's why we've created a set of key questions to ask your provider when you're considering where to put your money.

You'll find questions for a range of different financial products and services: bank accounts, pensions, insurance policies, investments and financial advisers. Use them to find out if FSCS protects the product or service you're considering so you can make an informed choice that's right for you. 

There are lots of factors to take into account when you're making decisions about your finances. It's really important you know how much of your money FSCS can protect before you sign up to anything, just in case something goes wrong. 

FSCS can pay you compensation if your financial services provider fails and can't pay back your money itself. We protect a range of financial products, each with its own limit to the amount of compensation we can pay.

 

Channel website: https://www.fscs.org.uk/

Original article link: https://www.fscs.org.uk/news/protection/consumer-questions/

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