The compensation lottery

Article Abstract:

Depositors with UK banks have varying levels of protection depending on the compensation scheme they are protected by. The UK Deposit Protection Scheme gives savers 75% of their money back, while the Investors Compensation Scheme repays 100% for an initial 30,000 pounds sterling and 90% for the following 20,000 pounds. The largest four banks in the UK offer most protection, and savers can keep money in smaller banks within limits for which protection is offered by compensation schemes.

Laws, regulations and rules, Savings accounts

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National Westminster

Article Abstract:

National Westminster bank saw half year profit up 14% to 872 million pounds sterling. Management aims to spend 750 million pounds sterling on an investment bank, and plans a few modest disposals. Bancorp, its US retail and commercial operation made 145 million pounds sterling this half, but NatWest has confirmed it will not be expanding into any other areas of the US.

Finance, National Westminster Bank PLC (London, England)

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