How FSCS protection works
FSCS protects your money if an authorised UK bank or building society fails. Here's the essentials.
The £85,000 limit
FSCS protects up to £85,000 per person, per authorised firm. For joint accounts the limit is £170,000.
Watch shared licences
Some brands share a single banking licence, so the £85,000 limit applies across all of them combined, not per brand. If you hold large balances, check which licence each account sits under.
Common questions
- Is my money protected instantly?
- FSCS aims to pay compensation for most claims within seven working days.
- Does it cover interest?
- Yes — protection covers your balance including accrued interest, up to the limit.
Information only, not financial advice.