'Banks will be required to display notices in branch and on websites that tell customers how much of their savings are protected if the bank goes bust, the Financial Services Authority (FSA) said today.
The plans - outlined in December - will also apply to building societies and credit unions. They will see stickers and posters displayed prominently in branches to draw attention to savings protection limits.
UK savers' deposits are protected up to £85,000 under the savings safety net - the Financial Services Compensation Scheme (FSCS). Foreign banks with branches in the UK which are not covered by the scheme will need to make this clear while stating which national scheme is providing protection.'
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