FSCS (Financial Services Compensation Scheme)
What is the FSCS?
The FSCS (Financial Services Compensation Scheme) is a UK scheme that protects your money if a bank, building society, or investment platform fails. If a firm goes bust and can’t return your money, the FSCS can compensate you.
How much does the FSCS cover?
Up to £85,000 per person, per firm for investments. Cash in banks and building societies is also covered up to £120,000 per person, per firm.
If you have a joint account, you each get £85,000 of protection (£170,000 total).
Does the FSCS protect my investments?
It protects you if the platform fails, not if your investments fall in value. Markets going down is not covered. A platform going bust and losing your assets is.
Your investments are usually held separately from the platform’s own money, so even if a platform fails, your assets should be returned. The FSCS is a backstop if that process goes wrong.
How do I check if a firm is covered?
If a firm is authorised by the FCA (Financial Conduct Authority), you’re usually covered by the FSCS.
Scrimpr’s FSCS checker shows which banks share protection limits. Some brands that look separate are covered under the same £85,000 cap.
Check FSCS Protection →Key points about FSCS
- Protects up to £85,000 per person, per firm
- Covers platform failure, not market losses
- Check before you invest. Use the FSCS protection checker
More information
Scrimpr links to official sources so you can verify what you’ve learned.