10 things you need to know about making a savings claim to the Financial Services Compensation Scheme.
If your bank or building society were to go bust, how should you claim against the FSCS or Financial Services Compensation Scheme?
If you have money in a bank or building society savings account, current account or with a credit union, your money is likely to be protected by the UK's savings compensation scheme. If the bank, building society or credit union goes bust, how do you make your claim?
Which banks are in the UK savings compensation scheme and do they protect £85,000 of savings?
Which banks share a compensation limit and which aren’t members of the UK’s compensation scheme?
The vast majority of banks operating in the UK (and building societies) are covered by the Financial Services Compensation Scheme. That means if you have savings with them, you are protected up to a limit of £85,000. But it’s not that simple as some banks ‘share’ the £85,000 limit between them. How does it work?
Keeping your bank savings safe - understanding the Financial Services Compensation Scheme.
How much would you get back if your bank or building society went bust? And how quickly would you be paid?
If you have savings in a bank or building society, you need to know how they are protected. There is an independent savings safety scheme, called the Financial Services Compensation Scheme, which is designed to protect the first £85,000 you have in a bank or building society. How does it work?