Can I use the FSCS logo?

Together, FSCS, the Building Societies Association and UK Finance have agreed how the FSCS badge can be used across a range of channels, including digital, advertising and disclosure. They can feature the FSCS protected badge on websites, mobile apps, FSCS customer information sheets and in advertising campaigns.

What are the FSCS limits?

Set up by parliament and funded by the financial services industry, FSCS is a completely independent and free service. This means FSCS can pay back any money you hold with a failed bank or building society, up to its compensation limit of £85,000 per person.

Which products are covered by the FSCS?

Making a claim with FSCS We accept online claims for insurance, mortgages, pensions, payment protection insurance, investments and debt management. If your bank, building society or credit union has failed you don’t need to make a claim.

How does the FSCS protect a person?

The Financial Services Compensation Scheme (FSCS) protects customers from losing some of their cash if authorised financial services firms go bust. It protects up to £85,000 of savings per individual, per financial institution (not just per bank), and also covers mortgages, insurance and investments.

How can you check if a firm is covered by the FSCS?

How can I check if my provider is FSCS protected? Search the Financial Conduct Authority (FCA) register using your provider’s firm reference number (FRN) for the most accurate results. Find the FRN in your paperwork or emails, or ask your provider if you can’t find it.

Is FSCS backed by government?

The FSCS is an operationally independent body, set up under the Financial Services and Markets Act 2000 (FSMA), and funded by a levy on authorised financial services firms. The scheme rules of the FSCS are made by the Financial Conduct Authority (FCA) and are contained in the FCA’s Handbook.

Does FSCS cover ISAs?

The FSCS investment protection applies if you lose money due to the product provider of the investment going bust – for example, if you’ve got a stocks & shares ISA with a bank, and the bank goes bust – and not if the underlying investment goes bust. You’d still own the shares, so there’d be no compensation.

How much are you protected for in a bank account?

If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you. up to £85,000 per eligible person, per bank, building society or credit union. up to £170,000 for joint accounts.

Is Plum protected by FSCS?

Plum is now regulated by the FCA and any money held in savings (i.e not in your primary pocket) or investments is covered by the FSCS. If you want to compare it to other personal finance apps you can do so in our article, The best money apps you should have in 2021.

Does FSCS cover ISAS?

How much money are you covered for in the bank?

If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you. up to £85,000 per eligible person, per bank, building society or credit union.

How much can you have in one bank account?

If, therefore, you have substantial savings, you should make sure that you don’t hold more than the maximum £85,000 with any one bank. Under the FSCS the first £85,000 of your savings is protected in the event that the bank or building society goes bust.