Compensation Limits

The actual level of compensation you receive will depend on the basis of your claim. The FSCS only pays compensation for financial loss. Compensation limits are per person per firm, and per claim category (listed below).

Slightly different limits and rules apply if you have a claim against an insurer or a bank that was insolvent before the FSCS became operational (1 December 2001), or if your claim is against an investment firm that was declared in default before the FSCS became operational.

The maximum levels of compensation are:  


  • Deposits: £85,000* per person per firm (for claims against firms declared in default from 31 December 2010).

    100% of £85,000*.

For more details visit our Deposit Limits page.

*From 3 July 2015, the FSCS will provide a £1 million protection limit for temporary high balances held with your bank, building society or credit union if it fails. Read our Q&As about temporary high balances for more information.

*From 1 January 2016 deposit limit for bank accounts will be £75,000, and £150,000 for joint accounts. The £75,000 figure is the sterling equivalent of €100,000 as required by the recast Deposit Guarantee Schemes Directive.


  • Investments: £50,000 per person per firm (for claims against firms declared in default from 1 January 2010).

    100% of the first £50,000.

For more details visit our Investment Limits page.


  • Home Finance (e.g. mortgage advice and arranging): £50,000 per person per firm (for claims against firms declared in default from 1 January 2010).

    100% of the first £50,000.

For more details visit our Home Finance Limits page.


  • Insurance Business: unlimited. 
  • Insurance Business: there is no upper limit on the amount of protection. (for claims against firms declared in default from 3 July 2015)

    Long-term insurance benefits are protected 100%. 
  • Claims under compulsory insurance, professional insurance and certain claims for injury, sickness or infirmity of the policyholder are protected at 100%
  • Protects 90% of other types of claim with no upper limit.

For more details visit our Insurance Limits page.


  • General insurance advice and arranging: unlimited (for business conducted on or after 14 January 2005).

    Protects 90% of the claim with no upper limit. Compulsory insurance is 100%.

For more details visit our Insurance Limits page.

 


The FCA

The Financial Conduct Authority website includes a searchable database of all firms authorised and regulated by the FCA and the Prudential Regulation Authority (PRA).

What We Cover

Here you'll find information about what we cover, our compensation limits, and get answers to some of the most frequently asked questions.

The FOS

The Financial Ombudsman Service is the official independent expert in settling complaints between consumers and financial businesses

Jargon Buster

  • Credit union

    a financial co-operative which is owned and controlled by its members.
  • Deposits

    money placed in a bank or similar institution to earn interest or for safe-keeping.
  • In default

    A firm unable, or likely to be unable to pay claims against it. This will generally be because it has stopped trading and has insufficient assets to meet claims, or is in insolvency.
  • Investment

    a financial product in which money can be invested to earn interest or profit (although the value of investments can go down as well as up).