[simonvc]

It's a risk that was very much understood and it's fully covered.

[blibble]

I've heard that one before

[lol768]

I mean, it's been in production for years, has a cap of £20k and I'm pretty sure the design of BACS means it's very difficult to recall a transaction after the 4pm time when the feature becomes available. Simon is probably in a very good position to know how often that sort of thing happened, if ever.

I'm pretty happy with them offering this based on my understanding of BACS, as a shareholder.

[blibble]

20k... per account? adds up

I suppose most people won't have 20k (net) payslips, or draw it all out on pay day!

I'm not saying he's wrong, but covering a risk of this nature? I'm sure you'd be able to find someone to take your premiums

whether you'd be able to collect on it when needed, in the situation where the financial system is under serious stress is something else (see: 2008)