The age old, "At least I have protection for my funds in a bank" From 2015-2022 HSBC Bank was found to have incorrectly marked 99% of its eligible beneficiary deposits as "ineligible" for FSCS protection.

If you think legacy institutions are protecting you and you think they're more competent than you are -- let's say you're considering letting one hold your keys. Please rethink the idea. No one cares more about your assets than you do.

This news probably won't break into many retail investors' daily feeds or even really register with them as important -- I bet not a single person changes bank due to this because surely "lessons were learned"