What we cover
Here you can find the FSCS compensation limits for each financial product we protect. The UK regulators, the Financial Conduct Authority and the Prudential Regulation Authority, set the financial compensation limits and compensation rules.
If the firm failed after 1 Jan 2017
If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you.
- up to £85,000 per eligible person, per bank, building society or credit union.
- up to £170,000 for joint accounts.
We protect certain qualifying temporary high balances up to £1 million for 6 months from when the amount was first deposited.
You don’t need to do anything – FSCS will compensate you automatically.
You can easily see how much of your money is protected by using our bank & savings protection checker.
If the firm failed after 1 Jan 2017
If you hold money with a UK-authorised credit union, bank or building society that fails, we’ll automatically compensate you.
- up to £85,000 per eligible person, per bank, building society or credit union.
- up to £170,000 for joint accounts.
We protect certain qualifying temporary high balances up to £1 million for 6 months from when the amount was first deposited.
You don’t need to do anything – FSCS will compensate you automatically.
You can easily see how much of your money is protected by using our bank & savings protection checker.
If the firm failed after 1 April 2019
If you hold money with a debt management firm that fails, we may be able to compensate you:
- up to £85,000 per eligible person, per firm.
You don’t need to do anything – FSCS will compensate you automatically.
If it failed 1 Apr 2018 - 31 Mar 2019
- up to £50,000 per eligible person, per firm.
If the firm failed after 8 October 2020
If you bought your insurance policy from an insurance firm that’s failed, the kind of insurance you have and when the firm failed will affect how much compensation you could claim.
100% protected:
Professional indemnity insurance
Claims arising from the death or incapacity of the policyholder due to injury, sickness or infirmity
Building guarantee policies
90% protected:
If it failed between 3 Jul 2015 - 7 Oct 2020
If you bought your insurance policy from an insurance firm that’s failed, the kind of insurance you have and when the firm failed will affect how much compensation you could claim.
100% protected:
Professional indemnity insurance
Claims arising from the death or incapacity of the policyholder due to injury, sickness or infirmity
90% protected:
If it failed 1 Jan 2010 - 2 Jul 2015
If it failed 1 Dec 2001 - 31 Dec 2009
100% protected:
100% protected for the first £2k then 90% of the remainder:
Insurance broker or financial adviser that’s failed
the kind of insurance you have will affect how much compensation you could claim. See some examples of situations where you may be able to claim compensation if an insurance broker/financial adviser helped you buy your policy.
100% protected:
90% protected:
If the firm failed after 1 Apr 2019
We may be able to compensate you if you've a protected claim against a firm that has failed.
- up to £85,000 per eligible person, per firm.
If it failed 1 Jan 2010 - 31 Mar 2019
- up to £50,000 per eligible person, per firm.
If it failed before 1 Jan 2010
- 100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per eligible person, per firm.
If the firm failed after 1 April 2019
- up to £85,000 per eligible person, per firm.
If it failed 1 Jan 2010 - 31 Mar 2019
- up to £50,000 per eligible person, per firm.
If it failed before 1 Jan 2010
- 100% of the first £30,000 and 90% of the next £20,000 up to £48,000 per eligible person, per firm.
If the firm failed after 1 Jan 2010
You could claim compensation if you bought a PPI policy and the information you were given was misleading or insufficient, and that firm has since failed.
- 90% of the total claim.
You would claim against the firm that advised you to take out the policy, not the firm you had the policy with.
If it failed before 1 Jan 2010
- 100% of the first £2,000, per eligible person per firm, then 90% of the remainder.
If the firm failed after 1 Apr 2019
If your pension provider fails
- 100% of your claim, with no upper limit.
If your SIPP operator fails
- up to £85,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £85,000 per eligible person, per firm.
If it failed 3 Jul 2015 - 31 Mar 2019
If your pension provider fails
- 100% of your claim, with no upper limit.
If your SIPP operator fails
- up to £50,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £50,000 per eligible person, per firm.
If it failed 1 Jan 2010 - 2 Jul 2015
If your pension provider fails
- 90% of your claim, with no upper limit.
If your SIPP operator fails
- up to £50,000 per eligible person, per firm.
Bad pension advice
If you’ve received bad advice in relation to your pension, you could be eligible to claim compensation.
- up to £50,000 per eligible person, per firm.
Read our eligibility rules for information about which types of claim are eligible for compensation.
Your legal rights and FSCS compensation
If you have a successful claim, FSCS will pay compensation up to the limit that applies. When you accept this payment, you transfer your legal rights against the firm and any other relevant party to FSCS. We explain this as part of the application process.
This means you can no longer claim against the firm or any other relevant party. FSCS will pursue recoveries against them. Depending on the circumstances of your case, if we make any recoveries, we may be able to pay some of these recoveries to you. FSCS makes recoveries for the benefit of its levypayers or compensated claimants.
If your claim is rejected, or until you accept our compensation, you are free to pursue the firm or any third party yourself - FSCS will not do so on your behalf.