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We compare investment platforms and savings accounts from multiple providers. Capital at risk. The information shown is accurate at time of display but may change.
FSCS Protection Checker
Check which UK banks and investment platforms share Financial Services Compensation Scheme (FSCS) protection limits. Make sure your savings (up to £120,000) and investments (up to £85,000) are fully covered.
FSCS protection: Up to £120,000 for deposits, £85,000 for investments per person, per authorised firm.
The FSCS protects up to £120,000 for cash savings and £85,000 for investments per firm. Many brands share the same licence, meaning your protection is shared across them.
About FSCS protection
- Investments – ISAs, SIPPs and investment accounts are covered up to £85,000 if your provider fails and cannot return your assets.
- Cash savings – Bank accounts and Cash ISAs are covered up to £120,000 per banking licence.
- Shared protection – Brands under the same licence share one limit. £50k in Halifax plus £50k in Bank of Scotland equals £100k against a single £120k limit.
Data from FCA Register, HMRC and Bank of England. Updated January 2026.
FSCS Protection Checker
Use this tool to check which banks and investment platforms share FSCS protection limits. Many providers that look separate actually share the same authorisation – meaning your protection is shared across them, not applied to each one separately. For banks, this means your £120,000 deposit protection; for investment platforms, it's £85,000. This tool uses data from the Bank of England and FCA Register.
What is FSCS?
The Financial Services Compensation Scheme (FSCS) is the UK's statutory compensation scheme for customers of failed financial services firms. If a bank, building society, credit union, or investment platform fails and can't return your money, the FSCS steps in to pay compensation.
The FSCS was set up under the Financial Services and Markets Act 2000 and is funded by levies on the financial services industry – not by taxpayers.
Current Protection Limits (from 1 December 2025)
| Product Type | Protection Limit | Per |
|---|---|---|
| Cash deposits (banks, building societies, credit unions) | £120,000 | Per person, per banking licence |
| Investments (platforms, brokers, fund managers) | £85,000 | Per person, per firm |
| Temporary high balances (house sale, inheritance, etc.) | £1.4 million | Per person, for 6 months |
| Insurance (most types) | 90% of claim | No upper limit |
| Life insurance and compulsory insurance | 100% of claim | No upper limit |
December 2025 increase: The deposit protection limit increased from £85,000 to £120,000 on 1 December 2025 – the first increase since 2017. Temporary high balance protection also increased from £1 million to £1.4 million.
Why Shared Authorisation Matters
FSCS protection applies per authorisation, not per brand. Many banks and investment platforms that appear to be separate actually share the same authorisation – often because they're owned by the same parent company.
This matters because if two providers share an authorisation, you only get one lot of protection across both of them combined.
Example: Halifax and Bank of Scotland share the same banking licence (FRN 169628). If you have £80,000 with Halifax and £60,000 with Bank of Scotland, you have £140,000 total – but only £120,000 is protected. The remaining £20,000 would be at risk if the bank failed.
Banks: Common Shared Licence Groups
These are some of the most commonly used banks that share protection limits. This is not a complete list – use the checker above to verify any bank.
Bank of Scotland plc (FRN 169628)
- Halifax
- Bank of Scotland
- Birmingham Midshires (BM Savings)
- Intelligent Finance (IF)
Lloyds Bank PLC (FRN 119278)
- Lloyds Bank
- Scottish Widows Bank
- MBNA
- Charities Aid Foundation
HSBC UK Bank Plc (FRN 765112)
- HSBC
- first direct
- HSBC Private Banking
Barclays Bank UK Plc (FRN 759676)
- Barclays
- Barclays Business Banking
- Tesco Bank
National Westminster Bank Plc (FRN 121878)
- NatWest
- Ulster Bank
- Mettle
- NatWest Rooster Money
Santander UK Plc (FRN 106054)
- Santander
- Cahoot
- Santander Business
Clydesdale Bank Plc (FRN 121873)
- Virgin Money
- Yorkshire Bank
- Clydesdale Bank
- B (digital bank)
The Co-operative Bank Plc (FRN 121885)
- Co-operative Bank
- Britannia
- smile
- Platform
Banks with Separate Licences (Despite Same Parent)
Confusingly, some banks within the same group have separate licences and therefore separate FSCS protection:
- Lloyds Banking Group: Lloyds Bank (FRN 119278) and Bank of Scotland/Halifax (FRN 169628) have separate licences
- HSBC Group: M&S Bank (FRN 151427) has a separate licence from HSBC/first direct
- NatWest Group: Royal Bank of Scotland (FRN 114724) and Coutts (FRN 122287) have separate licences from NatWest
The only reliable way to check is by looking up the Firm Reference Number (FRN) – banks with the same FRN share protection.
Investment Platforms: Shared Authorisation
Investment platforms can also share authorisation under the same FCA registration. The £85,000 investment protection limit applies per firm – so if two platform brands share the same authorisation, you only get one lot of £85,000 across both.
Halifax Share Dealing Ltd (FRN 183332)
- Halifax Share Dealing
- Scottish Widows Share Dealing (formerly iWeb)
- Lloyds Bank Direct Investments
- Bank of Scotland Share Dealing
AJ Bell Securities Ltd (FRN 155593)
- AJ Bell Youinvest
- AJ Bell Dodl
- AJ Bell Investcentre
Note: Most major investment platforms (Hargreaves Lansdown, Interactive Investor, Vanguard, Fidelity, Trading 212, Freetrade) operate under their own individual FCA authorisation – they don't share protection with other brands. The shared authorisation issue is less common for investment platforms than for banks.
Cash vs Investment Protection
FSCS protection works differently for cash deposits and investments:
Cash Deposits (£120,000)
Cash in bank accounts, savings accounts, and Cash ISAs is protected up to £120,000 per person, per banking licence. If the bank fails, the FSCS aims to return your money within 7 working days – automatically, without needing to make a claim.
Investments (£85,000)
Investments held with platforms and brokers (shares, funds, ETFs in ISAs, SIPPs, and GIAs) have £85,000 protection per firm. However, investments are also protected by other safeguards:
- Client money segregation: FCA rules require platforms to keep your money and investments separate from their own assets. If the platform fails, your investments should still be yours.
- Nominee accounts: Investments are typically held in the name of a nominee company, ring-fenced from the platform's business.
- Fund manager continuity: If your platform fails, the fund managers (e.g. Vanguard, iShares) still have obligations to you.
The FSCS £85,000 limit for investments acts as a backstop for any shortfall after these protections are applied – for example, if there's a gap between what you should have and what can be returned due to fraud or administrative failure.
Important: FSCS does not protect against investment losses from market movements. If your shares fall in value, that's market risk – not something the FSCS covers.
What FSCS Doesn't Cover
Not all financial products and providers are covered by the FSCS:
Not Covered
- E-money providers: Digital wallets and payment apps like PayPal, Revolut (e-money account), Monzo (for some products) – though some may hold funds with FSCS-protected banks
- Cryptocurrencies: Bitcoin, Ethereum, and other crypto assets are not covered
- Unregulated investments: Peer-to-peer lending (except Innovative Finance ISAs from authorised firms), mini-bonds, crowdfunding
- Overseas banks without UK authorisation: Banks based outside the UK may be covered by their home country's scheme instead
- Market losses: If your investments fall in value due to market conditions
- Deposits over the limit: Any amount above £120,000 (or £85,000 for investments) with a single firm
NS&I – A Special Case
National Savings & Investments (NS&I) isn't covered by the FSCS because it doesn't need to be. NS&I is backed by HM Treasury, meaning 100% of deposits are guaranteed by the UK government – with no upper limit. This includes Premium Bonds, Income Bonds, and NS&I savings accounts.
Joint Accounts & Temporary High Balances
Joint Accounts
Joint accounts are protected up to £120,000 per person, meaning a joint account with two people has up to £240,000 protection. Each person's share counts towards their individual limit with that banking group.
Example: A couple has a £200,000 joint savings account with Halifax. They also each have individual Halifax accounts with £20,000. Only the joint account is protected – their individual accounts take them over the £120,000 per person limit (£100,000 joint share + £20,000 individual = £120,000 each).
Temporary High Balances
If you temporarily have a large balance due to a major life event, you may be covered for up to £1.4 million for 6 months from when the money was deposited. Qualifying events include:
- Proceeds from selling a residential property
- Inheritance or estate distribution
- Redundancy payment
- Divorce or dissolution settlement
- Insurance payout for personal injury or illness
- Benefits payable on retirement
- Benefits payable on death
You would need to make a claim to the FSCS with evidence of the life event – it's not automatic like standard deposit protection.
How to Check Your Protection
There are several ways to verify which providers share FSCS protection:
1. Use the Tool Above
Our checker shows which banks and investment platforms share protection limits, using data from official sources.
2. Check the FCA Register
Search the FCA Financial Services Register for your provider's name. Look for the Firm Reference Number (FRN) – providers with the same FRN share FSCS protection. Under "Trading names" you can see all the brands that share that authorisation. This works for both banks and investment platforms.
3. Bank of England List (Banks Only)
The Bank of England publishes a list of banking brands that share FSCS coverage. Note: this only covers deposit-taking institutions, not investment platforms, and only lists banks that share protection with other brands.
4. FSCS Protection Checker
The FSCS has its own protection checker where you can enter multiple providers to see if your deposits or investments are protected.
5. Ask Your Provider
Banks and investment platforms are required to display FSCS information, including which other brands share their protection limit. Look for the "FSCS Protected" badge and accompanying information on their website or in account documentation.
Investment Platform Protection
Investment platforms like Hargreaves Lansdown, Interactive Investor, Vanguard, and AJ Bell are protected by the FSCS up to £85,000 per person. But the protection works differently to cash deposits.
How Platform Protection Works
When you invest through a platform:
- Your investments are held in a nominee account, legally separate from the platform's own assets
- Cash waiting to be invested is held in segregated client money accounts with banks
- If the platform fails, an administrator is appointed to return your assets
- The FSCS covers any shortfall up to £85,000 – for example, if fraud or administrative errors mean not all assets can be returned
What About Cash on Platforms?
Cash held on investment platforms is usually deposited with one or more banks. This cash may be protected by the FSCS deposit scheme (£120,000) rather than the investment scheme (£85,000), but:
- The protection limit is shared with any other accounts you have at the same bank
- Some platforms spread cash across multiple banks to increase coverage
- Check your platform's terms to see which banks they use
When FSCS Has Stepped In
Since 2001, the FSCS has paid out over £26 billion to more than 6.5 million people. Here are some notable examples:
Northern Rock (2007)
The first run on a UK bank in 150 years. When news broke that the Newcastle-based mortgage lender needed emergency Bank of England support, queues formed outside branches as savers rushed to withdraw money. The government stepped in to guarantee all deposits before the FSCS was triggered – but the crisis exposed how inadequate the old £35,000 (90% co-insurance) limit was, leading to today's much stronger protection.
2008 Banking Crisis
When Bradford & Bingley, Icesave, and three other banks failed in 2008, the FSCS protected over 4 million accounts and paid out approximately £20 billion. Bradford & Bingley's 2.5 million customers were seamlessly transferred to Santander. Over 200,000 Icesave customers received compensation through a specially created online claims process – many within days.
Beaufort Securities (2018)
When this stockbroker collapsed following FBI fraud charges, 17,500 clients' investments were frozen. The FSCS worked with administrators to transfer client assets to a new broker (The Share Centre). Over 99% of clients got their full investments back, with FSCS covering around £50 million in administration costs and shortfalls.
SVS Securities (2019)
After the FCA stopped this wealth manager from trading, 18,000 clients waited almost a year to access their money. The FSCS covered administration costs up to £85,000 per client, enabling assets to transfer to ITI Capital. Over 99% of clients received their full holdings back – only 8 clients exceeded the compensation limit.
London Capital & Finance (2019)
When this mini-bond issuer collapsed, 11,625 investors had £237 million at risk. FSCS paid £58 million to around 2,800 eligible bondholders. Because mini-bonds weren't regulated, most investors weren't covered – but the government created a special compensation scheme, paying a further £115 million to remaining bondholders.
Dunfermline Building Society (2009)
Scotland's largest building society was the first institution resolved under the new Banking Act 2009. Most of its business (including 260,000 customer accounts) transferred to Nationwide Building Society, with FSCS contributing to the resolution costs. Customers experienced no loss of access to their savings.
Key lesson: In most platform and broker failures, client assets are ring-fenced and returned in full. The FSCS typically covers administration costs rather than actual investment losses. The protection limit (currently £85,000) only becomes relevant if there's a shortfall in client assets – which is rare when proper segregation rules are followed.
FSCS Protection FAQ
What is the FSCS protection limit?
For cash deposits, the FSCS protects up to £120,000 per person, per banking licence (increased from £85,000 on 1 December 2025). For investments, the limit is £85,000 per person, per firm. Joint accounts are protected up to £120,000 per person, so £240,000 total for a joint account.
Do Halifax and Lloyds share FSCS protection?
No – despite both being part of Lloyds Banking Group, they have separate banking licences. Halifax shares protection with Bank of Scotland (FRN 169628). Lloyds Bank has its own licence (FRN 119278) shared with Scottish Widows Bank and MBNA. You get separate £120,000 protection for each.
Do HSBC and first direct share FSCS protection?
Yes. HSBC and first direct share the same banking licence (FRN 765112), so the £120,000 FSCS protection limit applies across both combined. M&S Bank, although part of HSBC Group, has a separate licence (FRN 151427) and separate protection.
Do NatWest and RBS share FSCS protection?
No. Despite being part of NatWest Group, NatWest (FRN 121878) and Royal Bank of Scotland (FRN 114724) have separate banking licences. Coutts (FRN 122287) also has its own licence. So you get separate protection for each.
Is Tesco Bank covered by FSCS?
Yes, but Tesco Bank now shares a banking licence with Barclays (FRN 759676) following its acquisition. If you have accounts with both Tesco Bank and Barclays, the £120,000 protection limit applies across both combined.
Are savings marketplaces like Raisin covered by FSCS?
Savings marketplaces (deposit aggregators) themselves aren't banks. Your money is deposited with partner banks, which are individually FSCS protected. Each partner bank provides separate £120,000 protection, but you need to track which banks hold your money.
Is my ISA covered by FSCS?
Yes. Cash ISAs are covered up to £120,000 as deposits. Stocks and Shares ISAs are covered up to £85,000 as investments. The ISA wrapper doesn't change the underlying protection – it depends on the type of account and who holds it.
Is my SIPP covered by FSCS?
SIPPs have £85,000 FSCS protection if the platform fails. Investments within the SIPP are also protected by ring-fencing and nominee accounts. The pension wrapper doesn't provide additional FSCS protection beyond the standard investment limit.
Do any investment platforms share FSCS protection?
Some do. Halifax Share Dealing, Scottish Widows Share Dealing (formerly iWeb), Lloyds Bank Direct Investments and Bank of Scotland Share Dealing all share the same FCA authorisation (FRN 183332). AJ Bell Youinvest, AJ Bell Dodl and AJ Bell Investcentre share FRN 155593. The £85,000 investment protection applies across all brands sharing the same FRN.
Is NS&I covered by FSCS?
NS&I isn't covered by FSCS because it's backed by HM Treasury – meaning 100% of deposits are guaranteed by the UK government with no upper limit. This includes Premium Bonds, Income Bonds, and NS&I savings accounts.
Are Premium Bonds covered by FSCS?
Premium Bonds are issued by NS&I and backed by HM Treasury, not covered by FSCS. But they don't need FSCS coverage – the government guarantee provides 100% protection with no limit.
How do I check if a bank or investment platform is FSCS protected?
Search the FCA Financial Services Register for the provider's name and check they're authorised. Look for the Firm Reference Number (FRN) – providers with the same FRN share protection. Banks and investment platforms must display the 'FSCS Protected' badge on their website.
What happens if my bank fails?
For deposits, the FSCS aims to pay compensation within 7 working days – automatically, without needing to make a claim. You'll typically receive your protected amount directly. Any amount above £120,000 per banking licence may be lost.
Does FSCS cover cryptocurrency?
No. Cryptocurrencies like Bitcoin and Ethereum are not covered by the FSCS. If a crypto exchange fails, there's no compensation scheme. Some crypto platforms are FCA registered for anti-money laundering purposes, but this doesn't provide FSCS protection.
Does FSCS cover Revolut?
It depends on the account type. Revolut's main accounts are e-money, which aren't FSCS protected. However, Revolut also offers savings 'pockets' where money is held with partner banks – these deposits may be FSCS protected. Check the specific product terms.
What is a temporary high balance?
If you temporarily have a large balance due to a life event (house sale, inheritance, redundancy, etc.), you may be covered for up to £1.4 million for 6 months. You'd need to make a claim to FSCS with evidence of the qualifying event.
Does FSCS protect business accounts?
Yes, most business deposits are protected. Sole traders get one £120,000 limit across personal and business accounts. Limited companies get separate protection up to £120,000. Some large companies and financial institutions are excluded.
When did the FSCS limit increase to £120,000?
The deposit protection limit increased from £85,000 to £120,000 on 1 December 2025. The previous £85,000 limit had been in place since January 2017. The temporary high balance limit also increased from £1 million to £1.4 million.
Does FSCS cover investment losses?
No. FSCS doesn't compensate for investment losses due to market movements. If your shares fall in value, that's market risk. FSCS only covers losses caused by a firm failing and being unable to return your assets, or by mis-selling/bad advice.
About This Tool
This tool uses data from the Bank of England's list of banking brands and the FCA Financial Services Register. Banking licences and brand ownership can change – always verify with the official sources or your bank before making decisions about where to hold large sums.
This tool shows which banks and platforms share FSCS protection limits. It doesn't provide financial advice – just factual information to help you understand how your money is protected.
