Kingdom Bank - a UK Christian bank whose mission is to help churches grow - has welcomed a proposal to raise savings protection, saying it'll help churches.
The Financial Services Compensation Scheme (FSCS) exists to protect people's money if a financial firm fails. The Prudential Regulation Authority (PRA) has proposed an increase to the FSCS standard deposit protection limit, from £85,000 to £110,000 per eligible depositor, per authorised firm.
Matt Slack, Chief Financial Officer for Kingdom Bank, said: "A higher FSCS limit gives individuals, churches, Christian charities and businesses greater confidence to entrust larger balances with us, knowing more of their money is protected."
Why student loans and all money is ‘hevel’
There’s a row gathering over student loans, and I can’t help but feel somewhat personally culpable.Back in 2013 as …