First direct

The Financial Services Compensation Scheme (FSCS) protects consumers should anything happen to their bank, building society or credit union. It is likely you will have seen our posters in your local branch or information on your bank or building society website and app. 

First direct bank accounts are protected by FSCS up to the sum of £85,000*. Find out more from the first direct website.

FSCS protection covers firms authorised by the Prudential Regulation Authority (PRA).  A list of the banks authorised by the PRA can be found on the PRA's website

FSCS protects the following first direct bank accounts

  • first direct Current Accounts
  • first direct Savings Accounts
  • first direct Cash ISA Accounts

Individuals are protected up to £85,000* and £170,000* for joint accounts.

Understanding shared banking authorisation

first direct operates under the HSBC banking authorisation, this means that you might only be protected up to £85,000* for the total amount of money you have across the brands covered.

For a full list of banking and building society brands and authorisations protected by FSCS can be found here

How to check your first direct Current Account and/or other Savings are safe

Find out if your money is safe in two easy steps by using the FSCS Protection Checker.

What other financial products does FSCS protect?

FSCS also protects investments, insurance, pensions, endowments and home finance (including mortgage advice). Find out more on our What We Cover pages

For more information about first direct Bank, please visit the first direct website.

* 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.