Which banks covered by fscs

The FSCS is a government-backed program that protects your money and compensates you if your bank, building society or savings provide were to fail. Yes, the FSCS protects your savings and provides you with compensation if your savings provider is unable to pay out. Some of your funds may fall outside the jurisdiction of the scheme. This is known as a temporary high balance. This is to protect you after a house sale, inheritance or any other temporary high value deposit. You won't have to wait more than 24 hours to withdraw your savings if your bank goes bust.

Find out more about temporary high balances here. Accounts held in banks or building societies that operate under a shared FCA licence will only be covered once by the scheme, so it is important to know which banks are linked. Read Outlook now. Making a claim. 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.

For industry. Funded by the financial services industry, FSCS is an independent and free service, protecting you when financial firms fail. 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 protection checker works for cash deposits and e-money , but not investments. It should be on its website or you can ask them for it. Warning: Scammers can use the name of a legitimate firm to try and get you to part with your money. Always check the FCA register for any warnings about cloned firms.

We don't protect e-money. You'll be asked questions about why you're claiming compensation, be asked to upload scans of your supporting documents and you'll also need to sign the claim electronically before it can be submitted. You'll be sent an email to confirm that your claim has been received, but you should keep your eyes peeled in case the FSCS gets in touch to request any further information or supporting documents.

We've outlined how long you can expect to wait to receive compensation in the FAQ section at the bottom of the page. While we're waiting for a Brexit deal to be confirmed, it's hard to say what will happen with offshore funds after a leave date has been decided. See below for answers to some of the most common questions people have about the Financial Services Compensation Scheme.

At the beginning of the FSCS claim process, you'll be asked a few quick questions to see if it can help with your claim. Enter your details to find out whether you're eligible, and if so you can continue with your claim.

Money lost from bank or building society deposit failures is often paid back within a couple of days, so the sooner you make a claim the less time you'll be out of pocket for. To make sure all of your cash is covered by the FSCS, you should make sure it's saved in different financial institutions, or - if your circumstances permit it - consider opening a joint account.

There's an online contact form , where you can request someone to email, phone or write back to you. Deposit failures - ie when your bank, building society or credit union goes bust - are paid within seven days of making a claim. Most commonly, the FSCS says these claims are paid in two or three days. As for mortgages , investments and insurance cover, it could take much longer - and it depends on the complexity of the case.

Endowment claims, home finance and mortgage compensation typically takes six months to come through. Yes - but you'll need to provide proof and documentation from all executors and administrators dealing with the deceased's accounts. Financial Services Limited. Financial Services Limited is a wholly-owned subsidiary of Which? Limited and part of the Which? Money Compare is a trading name of Which? Money Compare content is hosted by Which?

Limited on behalf of Which? Savings Accounts ISAs. In this article. How much does the FSCS cover me for? How does the FSCS work for savings and bank accounts? Tool: who owns who in the savings market? Mergers — are my savings still safe? Does the FSCS cover mortgages, insurance and investments? How does the FSCS work for investments? The FSCS: your questions answered. Registered in Scotland no. Lloyds Bank Corporate Markets plc. Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number , and respectively.

Financial Services Compensation Scheme. Due to FSCS eligibility criteria not all business customers will be covered. FSCS Information Sheet See information about the protection of your eligible deposits and an exclusions list for customers who will not be covered under the scheme.