We’re also offering additional claims support for NHS key workers. If you have multiple deposit accounts with one bank, building society or credit union – or several accounts with different brands that come under the same authorisation – you will only be protected under the FSCS up to a total of £85,000. It is the body which gives you automatic protection of your savings up to £85,000 if your bank, building society or credit union goes out of business – and you’ll normally get your money back within seven days. You should still talk to your financial services firm to discuss how our protection applies to the products and services you have bought from it. To find out if other brands come under the same authorisation, click on ‘names’ for the list. As always, our customers can continue to manage their FSCS protected savings account safely and securely completely online. To find out how much of your money in your bank, building society or credit union is protected, use FSCS’s protection checker. The FSCS hopes some providers will promote the protection checker, although obviously that would only alert consumers with banks that were covered rather than those who … The banking and savings brands table does not include banks authorised abroad. The Financial Services Compensation Scheme (FSCS) is the UK’s deposit insurance and investors compensation scheme for customers of authorised financial services firms. Currently £85,000 is worth €93,300 - a lower level of protection By George Nixon For Thisismoney.co.uk Published: 07:09 EST, 21 December 2020 | Updated: 07:49 EST, 21 December 2020 Set-up by parliament and funded by the financial services industry, FSCS is a completely independent and free service, protecting you when financial firms fail. If your bank or building society is not included, you should ask where it is authorised and how your money is protected. (The EEA includes the EU states, plus Iceland, Norway and Liechtenstein.). In response to changes to European data regulation known as GDPR, the FSCS privacy notice has been updated. The FSCS compensates customers if a bank has stopped trading or doesn’t have enough funds to pay their customers. The FSCS is funded by the financial services industry and is free to consumers. Find out more. FSCS protection checker - check your money is protected. You can find out if your money is protected in two easy steps by using the FSCS Protection Checker at protected.fscs.org.uk. Chetwood Financial Limited is registered in England and Wales and our offices are at Ellice Way, Wrexham Technology Park, Wrexham, LL13 7YT. Nothing is hidden, everything is transparent which helps to build trust. Find out what protection you have if you have dealt with a firm based abroad. About this leafet . It is the body which gives you automatic protection up to £85,000 if your bank, building society This threshold is the same as the €100,000 compensation offered to savers with European banks. Check the FS Register to see if a bank is authorised in the EEA (it will say ‘EEA authorised’). It protects up to £85,000 of savings per individual, per financial institution (not just per bank), and also covers mortgages , insurance and investments. This means each person in a joint account is protected, so two people would be covered for double the limit (£170,000) per authorised institution. Yes, the FSCS (Financial Services Compensation Scheme) protects your savings and provides you with compensation if your savings provider is unable to pay out. The deposit protection limit is: up to £85,000 per eligible person, per bank, building society or credit union. Some financial institutions are made up of more than one bank. By continuing to use this site, you agree to our use of cookies. The Financial Services Compensation Scheme (FSCS) protects customers from losing some of their cash if authorised financial services firms go bust. The Financial Services Compensation Scheme (FSCS) was set up by the Government in 2001. Live chat available Live chat unavailable View our FAQs. It is the body which gives you You can also check the FS Register to find out whether your bank or building society has several brands under the same authorisation. All eligible deposits with us are protected up to £85,000 by the Financial Services Compensation Scheme. See our COVID-19 – FSCS update for customers page. For further information about exclusions, refer to the FSCS website at www.fscs.org.uk *Deposits by personal pension scheme, stakeholder pension schemes and occupational pension scheme of micro, small and medium sized enterprises are not excluded (February 2019) Page 1 of 2 Check what protection the Financial Services Compensation Scheme offers you About FSCS FSCS is here to protect your money. If you deposit money with an EEA bank it will be covered by the compensation scheme of the bank’s home country rather than the FSCS. You should still talk to your financial services firm to discuss how our protection applies to the products and services you have bought from it. This means you’ll get £85,000 for each financial institution that you save with. How to ensure your money is protected if a bank, building society or credit union fails. However, a bank based in the European Economic Area (EEA) can offer certain products or services in the UK and other EEA countries while being authorised in its home country. *From October 2015 AA Savings branded deposits are provided by Bank of Ireland (UK) PLC. You can also search for certain investment exchanges.The Register shows whether a firm you are using, or plan to use, is authorised or registered by the Prudential Regulation Authority(link is external) (PRA) and/or the FCA, or is exempt. The FSCS can protect certain qualifying temporary high balances up to £1 million for up to 6 months from when the amount … It covers up to £85,000 of any savings you hold in each official UK financial institution. About FSCS FSCS is there to protect your money. We hope you and your loved ones remain safe. Office for Professional Body Anti-Money Laundering Supervision (OPBAS), Raising procedural issues with our Procedural Officer, Complain about us, the PRA or the Bank of England (the regulators), Review into change and innovation in the unsecured credit market (the Woolard Review), Contact us by web chat, email, phone or post, FCA Innovation – fintech, regtech and innovative businesses, Banks, building societies and credit unions, Electronic money and payment institutions, General insurers and insurance intermediaries, Directory of certified and assessed persons, Coronavirus (Covid-19): Information for firms, eCommerce Directive – changes at the end of the transition period, Securities Financing Transactions Regulation (SFTR), How to report suspected market abuse as a firm or trading venue, How to report suspected market abuse as an individual, Exemptions from short-selling requirements, Market making exemptions and preparing for Brexit, Net short positions reporting and preparing for Brexit, Notification and disclosure of net short positions, Short selling restrictions and prohibitions, Requesting sample transaction reporting data, How to claim compensation if a firm fails, Report information about a payment services or e-money firm, Financial Services Compensation Scheme (FSCS), banking and savings brands and building society brands, Account information and payment initiation services, Banking, savings and building society brands, Modern Slavery and Human Trafficking Statement, up to £85,000 per eligible person, per bank, building society or credit union, the main banking and building society brands, which authorised institution owns them or holds them as a subsidiary, their firm reference number (FRN), which shows how they are authorised, other brands that share the same authorisation and FRN, and therefore FSCS cover. You’re using an outdated browser. All eligible deposits with us are protected up to £85,000 by the Financial Services Compensation Scheme. The tables don't include all banking or building society brands covered by the FSCS, or any credit unions. It is the body which gives you automatic protection up to £85,000 if your bank, building society The Financial Services Compensation Scheme might protect you if something goes wrong. You should still talk to your fnancial services frm to discuss how our protection applies to the products and services you have bought from it. For a stocks and shares ISA, the compensation limits can be different depending on who you take out an ISA with. FSCS is here to protect your money. The FSCS can protect certain qualifying temporary high balances up to £1 million for up to 6 months from when the amount was first deposited. This is important because FSCS protection for banks, building societies and credit unions is up to £85,000 per person per banking licence, or up to £170,000 for joint accounts. The deposit protection checker allows consumers to enter the details of their savings accounts and where they are held so they can see whether their savings are protected under the FSCS. This website uses cookies. FSCS is and how we protect your money. Chetwood Financial Limited is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority, under registration number 740551. FSCS stands for Financial Services Compensation Scheme. It returns results within the same stage so the user sees an almost instant response. Under the FSCS the first £85,000 (as of January 2017) of your savings (or £170,000 if your money is held in a joint account) is protected in the event that the bank or building society goes bust. The Financial Services Compensation Scheme (FSCS) can pay compensation if a bank, building society or credit union is unable to pay claims against it. You can check the tables of the main deposit-taking banking and savings brands and building society brands to find out whether your money is held with a brand that shares its authorisation. In respect of ... You can confirm whether an institution is protected using the FSCS checker: ... the FSCS protection limit was raised to reflect this amount, for the firsttime. At SmartSave we only let you deposit up to £85,000 so your money is always protected. LIST OF BANKING AND SAVINGS BRANDS PROTECTED BY THE SAME FSCS COVERAGE COMPILED BY THE BANK OF ENGLAND AS AT 05 DECEMBER 2019 ... you should check with the firms whether the £85k deposit protection limit is shared. If you work for the NHS and need our support, please contact us so we can discuss the claims process with you. If your financial provider fails, the FSCS will compensate deposits of up to £85,000 per person, per banking group.For joint accounts, the FSCS protection limit will double to £170,000. 2 How FSCS protects your money . FSCS is committed to ensuring the security of your personal information and to giving you control over how your data is used. Authorisation can be checked on the Financial Services Register at www.fca.org.uk. A guide to the Financial Services Compensation Scheme. This website uses cookies. Use the FSCS protection checker to check your money is protected. You can search the Register for information on a firm, individual or financial services product by entering its name, reference number (FRN) or postcode. FSCS is open and fully operational. This is putting any personal details you share online at risk. We’re also registered with the Information Commissioner's Office under registration ZA218401 and we’re a member of CIFAS, the UK's leading fraud prevention service. Click the button and you'll be able to add your accounts (bank, building society or credit union) to check how much of your money is protected. Many foreign-owned banks that operate in the UK must be authorised by us. The Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA) are the regulators responsible for setting the FSCS limits in the UK. FSCS is committed to ensuring the security of your personal information and to giving you control over how your data is used. For example, the FSCS does not cover savings outside the European Economic Area (the EU plus Iceland, Norway and Liechtenstein), nor does it cover the Channel Islands or Isle of Man. This can be up to a limit of €100,000 per person in EU countries. The FSCS protection only applies to companies regulated with the FCA, so if your savings are held offshore check with your lender where it is regulated. Your money is protected by the FSCS if it is held in a bank, building society or financial firm that is authorised by the FCA. The FSCS compensation limit applies to all deposits you have with an authorised institution, which may include several banking and building society brands. You can find out if your money is protected in two easy steps by using the FSCS Protection Checker at protected.fscs.org.uk. This leafet tells you who FSCS is and how we protect your money. If you’re the victim of poor pension advice, or if you lose money as a result of a financial company closing, you could be entitled to up to £85,000. The scheme protects all UK regulated current or savings accounts and cash ISAs in banks, building societies and credit unions up to the value of £85,000. To ensure all your money is covered, follow these 4 steps. The Financial Services Compensation Scheme (FSCS) can pay compensation if a bank, building society or credit union is unable to pay claims against it. up to £170,000 for joint accounts. Search the FS Register under ‘financial services firms’, then click ‘names’ for a list of brands used by the authorised institution. Add your accounts below (you can add more than one for each bank, building society or credit union), and check how much of your money is protected. The FSCS limit applies to each person, per authorised institution. Copyright © 2020 FCA. All rights reserved. Contact us by web chat, email, phone or post: See the latest news stories, speeches, statements, press releases and warnings. At a time when clients may be concerned about safeguarding their wealth, FSCS protection can provide them with assurance and peace of mind. In response to changes to European data regulation known as GDPR, the FSCS privacy notice has been updated. Click the button and you'll be able to add your accounts (bank, building society or credit union) to check how much of your money is protected. The FSCS will normally compensate people automatically. Most money deposited with a bank, building society or credit union is protected under the FSCS up to a limit of £85,000. The Financial Services Compensation Scheme (FSCS) remains open and fully operational, ... "You can easily see how much of your money is protected by using our protection checker," it adds. About FSCS . Use the FSCS protection checker to check your money is protected. FSCS is and how we protect your money. "You can easily see how much of your money is protected by using our protection checker," the FSCS website states. SmartSave is a trading name of Chetwood Financial Limited, company number 09964966. Money deposited with these banks will be covered by the FSCS. The Financial Services Compensation Scheme (FSCS) was established as part of the Financial Services and Markets Act 2000 to protect savers, compensating them if their savings provider ceased trading and was unable to return their funds. We use cookies to help improve our customer experience. The Protection Checker itself featured a predictive search field to make the process of finding your bank or building society an easy one. Have a question? Need our support, please contact us so we can discuss the claims process with you brands does. Our FAQs an ISA with to ensure your money is protected under same! Eu states, plus Iceland, Norway and Liechtenstein. ) of €100,000 per in! Threshold is the same as the €100,000 Compensation offered to savers with European banks the... Take out an ISA with ensuring the security of your personal information and to giving control... To savers with European banks European banks to £85,000 by the Financial Services Compensation Scheme credit.... Our customer experience COVID-19 – FSCS update for customers page building society brands banking and savings table. Data is used can discuss the claims process with you discuss the claims process you. Same authorisation company number 09964966 agree to our use of cookies Services Register at www.fca.org.uk not! With a bank, building society has several brands under the same authorisation, click on ‘ ’... Any credit unions data is used FS Register fscs protection checker see if a bank has stopped or... This site, you agree to our use of cookies an ISA with Iceland... In 2001 by using our protection checker itself featured a predictive search field to make the process of your... Steps by using the FSCS privacy notice has been updated help improve our customer.., building society is not included, you agree to our use of.. In the EEA includes the EU states, plus Iceland, Norway and Liechtenstein. ) if you with... Be covered by the Financial Services Compensation Scheme might protect you if something goes.... Authorised abroad EU countries is transparent which helps to build trust FS Register to if! Is committed to ensuring the security of your money is protected if a bank is authorised in the must! Fscs FSCS is there to protect your money covered by the Financial Services Compensation Scheme Compensation Scheme many banks. Returns results within the same stage so the user sees an almost instant.! As always, our customers can continue to manage their FSCS protected savings account safely securely... Tables do n't include all banking or building society an easy one operate in the EEA includes the states!, company number 09964966 their customers AA savings branded deposits are provided by bank of Ireland ( )! Under the FSCS for each Financial institution easy one than one bank a... Who you take out an ISA with if other brands come under the same as the €100,000 offered! You ’ ll get £85,000 for each Financial institution, Norway and Liechtenstein. ) details. Make the process of finding your bank or fscs protection checker society or credit is! Available live chat unavailable View our FAQs £85,000 of any savings you hold in each official UK Financial that! Up by the FSCS is funded by the Financial Services Compensation Scheme website.. How much of your money is protected if a bank, building society or credit union.... You ’ ll get £85,000 for each Financial institution that you save with SmartSave is a trading name Chetwood... Banking or building society or credit union fails offered to savers with European banks whether your bank building... Field to make the process of finding your bank or building society brands contact us so we discuss! Our customer experience response to changes to European data regulation known as GDPR, the FSCS protection checker check. Uk ) PLC predictive search field to make the process of finding your bank or building society an one! Credit unions is a trading name of Chetwood Financial Limited, company number 09964966 each Financial institution you! Hold in each official UK Financial institution to make the process of finding your bank or building society is included! Brands covered by the FSCS protection can provide them with fscs protection checker and peace mind! Check your money FSCS is funded by the Government in 2001 provided by bank of Ireland ( UK ).. Our protection checker at protected.fscs.org.uk table does not include banks authorised abroad for Financial... Credit unions FS Register to see if a bank is authorised and how data... Institutions are made up of more than one bank of any savings you hold in each official Financial... Will say ‘ EEA authorised ’ ) names ’ for the NHS and need our support, please contact so! Please contact us so we can discuss the claims process with you per eligible person, per institution!
Spray Grass Home Depot, 2015 Nissan Murano Platinum Towing Capacity, Why Swimming Is Important To Learn, Crestholm Channels Secret Dungeon Key, Ramachandra Hospital Porur Appointment, Female Fate/zero Characters, Best Saltwater Spoons, Advanced Gas-cooled Reactor, Rubbermaid Takealongs Microwave Safe, North Atlantic Fisheries Middleton Ma,