Financial Services Compensation Scheme (FSCS): What is the FSCS protection limit and how does it work?

The Financial Services Compensation Scheme(FSCS)is a UK government-backed scheme that protects your money if a financial firm fails. The FSCS protection limit is up to £85,000 of your money per eligible person, per financial firm. For joint accounts, the protection limit is £170,000. 

What is not protected? 

The FSCS does not protect your money if it is lost in investments due to market volatility. It also does not protect investments that are not regulated by the Financial Conduct Authority (FCA)1. 

How to check if your money is protected? 

You can check if your money is protected by using the FSCS's online checker2. 

Also, you can check the FSCS website for a list of protected financial firms or contact your financial firm to ask if they are covered by the FSCS. 

How to claim compensation 

If a financial firm fails, you can claim compensation from the FSCS. You can do this online or by post3. 

More information 

For more information about the FSCS, you can visit their website. 

Here are some additional tips for protecting your money: 
  • Spread your money across different financial firms. 
  • Choose firms that are regulated by the FCA. 
  • Carefully read the terms and conditions of any investment before you make a commitment4. 
  • Be clear of the risks involved in any investment. 


By following these tips, you can help to protect your money from financial losses. 

  1. Use the FCA register to check if your investment firm is covered by the FCA. 
  2. Use the FSCS investment checker to see how safe your investment is. 
  3. Check eligibility of making a claim FSCS Claim. 
  4. Money Helper contains a list of investment products with their benefits and drawbacks.