If your bank or building society fails and can’t pay back your money, FSCS can automatically pay you compensation. Your bank or building society must be authorised by the Prudential Regulation Authority - check this on the Financial Services Register.
- Set-up by parliament and funded by the financial services industry, FSCS is a completely independent and free service, protecting you when financial firms fail. Add your accounts below (you can add more than one for each bank, building society or credit union), and check how much of your money is protected. The protection checker only works for cash deposits, not investments or e-money.
- 1 day ago “FSCS’s protection increases consumer confidence when buying financial products and services, and our compensation helps put customers back on track if firms should fail”.
- Please view How FSCS protects your money for further information or visit www.fscs.org.uk. You can also refer to our FSCS Information Sheet for more details. Please note that due to FSCS and FOS eligibility criteria not all small business customers will be covered, an exclusions list is included in the FSCS Information sheet.
- Your eligible deposit is covered by a statutory Deposit Guarantee Scheme. If insolvency of your bank, building society or credit union should occur, your eligible deposits would be repaid up to £85,000 by the Deposit Guarantee Scheme.
FSCS Protection The Financial Services Compensation Scheme. Moneybox and its Pension Provider (Gaudi Regulated Services Limited) are. Contributing to or withdrawing from the Moneybox Personal Pension. When you pay money in or withdraw money from.
Where you hold your money could affect how much compensation you’re entitled to. If you have money in multiple accounts with banks that are part of the same banking group (and share a banking licence) we have to treat them as one bank. This means that our compensation limit applies to the total amount you hold across all these accounts, not to each separate account.
For our compensation limit to apply to each individual account, you’d need to hold money with different banks that don’t share a licence. You can search the financial services register on the Financial Conduct Authority’s website to see which banks share a licence or download this list of banks that share a license (pdf 0.3MB) from the Bank of England.
You can easily see how much of your money is protected by using our protection checker. Click the button to get started.
If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you.
- up to £85,000 per eligible person, per bank, building society or credit union.
- up to £170,000 for joint accounts.
We protect certain qualifying temporary high balances up to £1 millionfor 6 months from when the amount was first deposited.
Deposit Insurance Uk
You don’t need to do anything – FSCS will compensate you automatically.
Fscs Protection List
You can easily see how much of your money is protected by using our protection checker.
How long will a claim against a failed bank or building society take?
7 days
FSCS aims to pay compensation within seven days of a bank or building society failing. More complex cases will take longer.
I used a savings marketplace/cash platform to deposit my money in multiple accounts with different banks. How long will my claim take?
I’ve got a small business account and a personal account with the same bank - are both accounts covered up to £85,000?
If your business is a separate legal entity, e.g., a limited company or LLP, you could claim up to £85,000 for each account. If you’re a sole trader (e.g., Mr Smith t/a Smith Motors) you wouldn’t be entitled to two separate claims – you could claim up to £85,000 in total.
Although joint account holders are usually entitled to make separate deposit claims for £85,000 each, if the joint account holders hold the account as partners in a business, then the business partnership is only entitled to a single claim of £85,000 (not one claim per business partner).
See our small businesses, limited companies and charities page for more information.
Are deposits covered if they’re held in a client account, or by a nominee company?
See our answer on whether we cover deposits held in client accounts.