Further FSCS Payments Announced For Eligible Alpari Claimants

Good news may be around the corner for some claimants of troubled brokerage firm, Alpari (UK) Limited. The Financial Services Compensation Scheme (FSCS) today declared that it will make further compensation Payments Payments One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl One of the bases of mediums of exchange in the modern world, a payment constitutes the transfer of a legal currency or equivalent from one party in exchange for goods or services to another entity. The payments industry has become a fixture of modern commerce, though the players involved and means of exchange have dramatically shifted over time.In particular, a party making a payment is referred to as a payer, with the payee reflecting the individual or entity receiving the payment. Most commonl Read this Term to claimants who have agreed their balances with the joint special administrators via the Alpari claims portal.

However, additional red tape may be required if the account is held in joint names, or in the name of a trust or corporate entity. In such cases, claimants will be required to complete an FSCS application form.

FSCS assured claimants that it is “working to process the remaining claims as quickly as possible and expects to make further payments in the next few weeks.”

Recipients will be contacted by the joint special administrators to confirm once compensation has been paid by FSCS, subsequent to validation checks.

Alpari was placed under special administration in January following the Swiss National Bank fiasco, which saw the price of the Swiss franc sky-rocket, resulting in deep losses for the broker.

Back in March, the FSCS reassured Alpari clients that they would be fully compensated for up to £50,000 of deposits at the brokerage. Since then, delays have frustrated claimants, with FSCS even issuing an apology in April.