Mizrahi Tefahot Bank Ltd

Mizrahi Tefahot Bank Ltd

1 year | GBP
  • FSCS protects deposits up to £85,000 per person

All offers from Mizrahi Tefahot Bank Ltd

5.25 % AER
1 year

About Mizrahi Tefahot Bank Ltd

Mizrahi-Tefahot Bank Ltd is Israel’s third largest bank and is incorporated under the laws of the State of Israel. The bank was established as a public company limited by shares on 6 June 1923, and in 1963, the shares were listed for trading on the Tel Aviv Stock Exchange (TASE).

The London branch of Mizrahi Tefahot is a UK regulated branch and enjoys a close relationship with its head office. The branch began operating in London in 1983 and has grown significantly in terms of client base, product range and recognition within the market.

Bank details

Headquarters: London
Year established: 1983

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

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