For example, HSBC and First Direct are registered with the FCA under one licence. This is a list of banks whose eligible depositors are covered by the UK’s Financial Services Compensation Scheme (FSCS) up to a limit of £85,000. Banks that are part of the same group e.g. Bank of Scotland and Halifax, often share a single licence, meaning FSCS protection is only covered up to £85,000 across all the banks collectively. Box 101, 1 Balloon Street, Manchester M60 4EP. You can easily see how much of your money is protected by using our protection checker. This website uses cookies. Please see below for further information. How to find boiler cover for your buy to let, £85,000 is protected by the compensation agreement, Written by Hannah Maundrell, Former Editor in Chief. The scheme promises to automatically repay any savings lost through fault of the bank, usually within seven days, … Following the sale, if you have savings with Barclays (the new name for ING Direct UK, previously Barclays Direct), you will share protection under the same umbrella as Barclays. Your eligible deposits with Triodos Bank UK are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. Discover how we can help you. Exceptions for certain deposits are stated on the website of the responsible Deposit Guarantee Scheme. How to get a mortgage if you are an older borrower. You can find out more about . Funded by the financial services industry, the Financial Services Compensation Scheme (FSCS) is a guarantee for our customers that doesn’t cost you a … FSCS protects customers when authorised financial services firms fail. These include money remittance services and e-money institutions, which are authorised and regulated by the FCA for their respective services, but do not provide FSCS protection. The Bank is registered in England and Wales, registration number 02794633 and is wholly owned by PCF Group plc, a company registered in England and Wales, registration number 02863246 and listed on … This means that all eligible deposits at the same bank are added up in order to determine the coverage level. … is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation … If this does happen, then FSCS will automatically compensate them, up to a certain limit. Those that are based outside the EEC, such as Indian bank ICICI, have to be authorised by the FCA in order to operate in the UK. It has been forced to reduce figure covered when banks collapse from £85,000 to £75,000 to bring UK in line with rest of the EU Published: 3 Jul 2015 . FSCS is committed to ensuring the security of your personal information and to giving you control over how your data is used. Up to £1 million of your savings will also be protected for six months following rules announced in July 2015. However, a bank … Share the article on Facebook. 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. You can change your browser settings to disable cookies at any time but if you do so, parts of the FSCS site may not function properly. FSCS Protection. This means that all eligible … You can change your browser settings to disable cookies at any time but if you do so, parts of the FSCS site may not function properly. For further information about the compensation provided by the FSCS, refer to the FSCS website at That means up to £85,000 of the money in your account is protected, if anything should ever happen to Monzo. This means that FSCS can pay compensation if a firm is unable, or likely to be unable, to pay claims against it. Our registered address is: The Cooperage, 5 Copper Row, London, England, SE1 2LH. The FSCS came into existence in 2001 and replaced former multiple schemes. Yes. Check if a bank is covered by the FSCS here. For the majority this is not a concern as many people do not hold more than £85,000 in savings. Eligible Depositors. In general, deposits from businesses, … The NS&I is a state-owned bank and isn’t covered by the FSCS. Your … The FSCS can protect your savings if your bank or building society goes bust. 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