London Scottish Bank customers being paid as claims fall due

3rd April 2009

The FSCS is processing claims from customers of the London Scottish Bank as they fall due and application forms are returned. So far, the FSCS has paid over £88m in compensation out of an estimated total of £250m.

The vast majority of depositors with the London Scottish Bank hold long term bonds with a variety of maturity dates through to 2013. FSCS is paying these claims as close to the maturity date as possible.

For accounts that matured during December, January and February, the FSCS has paid compensation to 99% of eligible claimants who have returned an application form. We are continuing to receive and process compensation claims and would encourage those who have bonds that have matured but have not yet sent us their application form to do so.