FSCS Protection
Your deposits are protected up to £85,000
What is FSCS?
The Financial Services Compensation Scheme (FSCS) is the UK's deposit protection scheme. It protects your money if a bank, building society, or credit union fails.
Protection Limits
£85,000 per person
Each eligible depositor is protected up to £85,000 per person, per banking group. This means if you have multiple accounts with us, the total protection is still £85,000.
Joint Accounts
Joint accounts are protected up to £170,000 (2 x £85,000). Each account holder is protected for their share of the account.
How It Works
Automatic Protection
All eligible deposits are automatically protected by FSCS. No registration required.
Bank Failure
If a bank fails, FSCS steps in to protect eligible depositors.
Compensation
FSCS pays compensation up to £85,000 per person within 7 working days.
Protection Calculator
Frequently Asked Questions
What accounts are protected?
Most deposit accounts are protected, including current accounts, savings accounts, cash ISAs, and fixed-term deposits. Investment products and shares are not covered by FSCS.
What happens if I have more than £85,000?
Amounts over £85,000 are not protected. We recommend spreading larger deposits across different banking groups to maximize protection.
Is there a time limit for claims?
FSCS aims to pay compensation within 7 working days of a bank failure. There is no time limit for making a claim, but it's best to act promptly.
Does FSCS cover businesses?
Yes, businesses are also protected up to £85,000 per business entity, per banking group. Large corporations may have different protection limits.
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