If customers are using the UK branch of a foreign bank from the European Economic Area, the posters will have to set out that those customers are not covered by the UK’s Financial Services Compensation Scheme and will have to specify which national scheme will provide protection.
Prescribed wording for the notices can be found on the regulator’s website.
According to Andrew Bailey, the FSA’s director of UK banks and building societies: “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.”
Source:
bankingtimes.co.uk
