Financial Services Compensation Scheme (FSCS)

Financial Services Compensation Scheme (FSCS)

We are part of the Financial Services Compensation Scheme (FSCS). This means that eligible savings held with us are protected up to a total of £85,000 per customer. If we went out of business you’ll normally get your money back within seven days. Read our FSCS information sheet here. 

Eligible savings held with us are protected up to a total of £85,000 per customer. We don’t share our FSCS protection with any other bank, so you can rest assured eligible deposits are fully protected. Loan balances would still need to paid as usual; these are not offset against savings. 

FSCS also protects certain types of balances held by individuals above £85,000. These ‘temporary high balances’ are protected up to £1,000,000 for a period of six months. They are exceptional and short-lived deposits which result from certain major life events. See the FSCS website for further details https://www.fscs.org.uk

What is the FSCS?

The FSCS is the Financial Services Compensation Scheme that guarantees savings are safe if a financial provider runs into trouble. It’s funded by the financial industry and is a free service to customers. The scheme is there to protect your savings. Most UK banks, building societies and credit unions are part of the scheme. 

For more information on the FSCS and how it protects savings visit their website https://www.fscs.org.uk

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