How safe is my money?
All banks and building societies authorised by the Prudential Regulation Authority are covered by the scheme.
What is the Financial Services Compensation Scheme?
All banks and building societies authorised by the Prudential Regulation Authority are covered by the Financial Services Compensation Scheme (FSCS). It鈥檚 an independent service that protects your money if your financial service provider goes bust. In the unlikely event this happens, you鈥檒l be repaid by a Deposit Guarantee Scheme.
The FSCS guarantees your money up to 拢120,000 per person, per institution. Joint accounts have protection up to 拢240,000.
You can find out if your bank or building society is covered by checking the .
What if I have more than one account at the same bank?
You鈥檒l be covered up to the maximum of 拢120,000 for the sum of your accounts at the same bank or building society.
If you have money in accounts at more than one bank or building society, the FSCS has a you can use to see what鈥檚 covered.
Are stocks & shares ISAs covered by the FSCS?
You may be able to claim compensation with the FSCS if the provider of your stocks & shares ISA goes bust.
The level of protection and the amount of compensation on investment products can vary. Some investment products aren鈥檛 protected at all. You can check if your investment is protected on the .
How long will a claim against a failed bank, or building society, take?
If a bank or building society fails, the FSCS aims to pay compensation within 7 days. Please note, more complex cases may take longer.
This article was last updated: 29/01/2026, 07:52
