Sherlock Holmes Comes to Savers' Rescue

Benedict Cumberbatch is to lead a new campaign to raise savers' awareness of the scheme that will protect their money if their bank goes bust.

The Financial Services Compensation Scheme has hired the award-winning actor to voice over its new campaign, costing the industry £3m.

There will be two radio clips and one three minute video which promotes savings and deposits protection to consumers with the aim of improving financial stability by instilling consumer confidence.

http://uk.finance.yahoo.com/news/she...140911946.html

Why does the FSCS need to remind people of this? Is something up again that they feel the need to reassure the public?

I noted a comment on the article that may give a bit of a clue:

'banks getting worried about savers looking for other ways to get better returns. If all OAP's with money in banks got together say 20or so putting in £10000 each into a fund, buy property to let then they could erne 5/6% on their savings. Plus long term increase in value of the property a win- win situation.
£10000 in an ISA = £100 per year interest
£10000 in buy let at 5% £500 income
which would you prefer'

Are people going off the idea of banks in general for savings purposes?

Re: Sherlock Holmes Comes to Savers' Rescue

Here we go again, the financial situation will always be volatile whilst house price inflation is a KEY indicator as to the health of the economy, radio news today has been banging on about six months of constant house price rises (in certain areas), boom bust all over again

Re: Sherlock Holmes Comes to Savers' Rescue

I know very little about financial affairs, but I do know that the banks will never change their greedy ways and the same thing will happen all over again, people would be wise to carefully seek out alternatives, in my humble opinion.

Re: Sherlock Holmes Comes to Savers' Rescue

Being discussed on Newsnight now, uncanny.

Re: Sherlock Holmes Comes to Savers' Rescue

I know 5% in a buy to let property sounds better, but I don't want the hassle this would create, and all the extra work entailed with the tax to pay on income received.