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Moneysupermarket.com » Forums » Ask the Expert » Ask the Expert - Money » What is the risk of a bank (or building society) collapsing that’s in the Channel Islands?

What is the risk of a bank (or building society) collapsing that’s in the Channel Islands?

Last post Fri, Dec 05 2008, 1:38 PM by DanTheMoneySavingMan. 1 replies.
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  •  Wed, Dec 03 2008, 6:18 PM

    What is the risk of a bank (or building society) collapsing that’s in the Channel Islands?

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    Can you advise about the risk of a bank (or building society) collapsing that’s in the Channel Islands? HSBC in particular. Will a UK resident or a British expat working abroad be covered with the same level of protection you get from the FSCS if it were an on shore account? Is the first £50K covered or is it nothing at all?
    • Post Points: 20

  •  Fri, Dec 05 2008, 1:38 PM

    Re: What is the risk of a bank (or building society) collapsing that’s in the Channel Islands?

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    It seems unlikely HSBC would collapse as it hasn't really suffered in the credit crisis. yet. I suggest you ask the bank themselves.
    • Post Points: 5