Guides

Depositor protection schemes if a bank goes bust
Category: Savings
Author: Tim Leonard
Updated: 14/03/2019

At a glance:

  • Most banks and building societies are signed up to a depositor protection scheme that would cover your money in the event the institution in question went bust.
  • This applies to foreign banks as well as UK-based entities.
  • The majority of UK savers will be covered under the UK scheme (the Financial Services Compensation Scheme), which covers up to £85,000 per person per banking licence.
  • Find out where your bank is licenced, and the level of protection you'll receive accordingly, by reading this guide.

Find out where your bank or building society is licensed, and what depositor protection guarantees you'll get if they go bust.

Most UK banks are licensed here in the UK, but some are EU banks that are operating under a "passport" licence scheme, and will have different compensation rules.

As well as this, banks and building societies operating in the crown dependencies of Gibraltar, Guernsey, Isle of Man and Jersey will have different compensation limits to that offered by the UK Financial Services Compensation Scheme.

To find out where your bank or building society is licensed, and what depositor protection guarantees you'll get if they go bust, we've compiled a list.

Find your bank or building society:


A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Depositor protection schemes: how much is covered?

Which depositor protection scheme are your savings covered by?

ABack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
AA Financial ServicesBank of Ireland (UK) plc for savings accounts Family Investments for cash ISAsUK
  • Bank of Ireland
  • Post Office
Adam and CompanyRoyal Bank of ScotlandUK
  • Royal Bank of Scotland
AgriBankAgriBank PLCMalta
Airdrie Savings BankAirdrie Savings BankUK
AldermoreAldermore Bank plcUK
Allied Irish Bank (GB)AIB Group (UK) plcUK
  • Allied Irish Bank (GB) Savings Direct
  • First Trust Bank (NI)
Al Rayan BankAl Rayan Bank plcUK
Arbuthnot LathamArbuthnot Latham & Co. LtdUK
Atom BankAtom Bank plcUK
Axis BankAxis Bank UKUK


BBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Bank and ClientsBank and Clients PLCUK
Bank of BarodaBank of Baroda (UK) LimitedUK
Bank of China (UK)Bank of China (UK) LimitedUK
Bank of Ireland UKBank of Ireland (UK) plcUK
  • Post Office ®
  • AA Financial Services
Bank of London and The Middle EastBank of London and The Middle East plcUK
Bank of ScotlandBank of Scotland plcUK
  • BM Savings
  • Birmingham Midshires
  • Halifax
  • Saga
Barclays BankBarclays Bank UK plcUK
  • Standard Life Cash Savings
Barclays WealthLicensed in Gibraltar, Guernsey, Isle of Man and JerseyGibraltar
Guernsey
Isle of Man
Jersey

Bath Building SocietyBath Investment and Building SocietyUK
Beverley Building SocietyBeverley Building SocietyUK
BFC BankBFC Bank LimitedUK
BM SavingsBank of Scotland plcUK
  • Bank of Scotland
  • Birmingham Midshires
  • Halifax
  • Saga
BritanniaThe Co-operative Bank plcUK
  • The Co-operative Bank
  • Smile
Brown ShipleyBrown Shipley & Co LimitedUK
Buckinghamshire Building SocietyBuckinghamshire Building SocietyUK


CBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Cambridge & Counties BankCambridge & Counties BankUK
Cambridge Building SocietyCambridge Building SocietyUK
Cater Allen Private BankCater Allen LtdUK
Charity BankThe Charity Bank LtdUK
Charter Savings BankCharter Court Financial Services LtdUK
Chelsea Building SocietyYorkshire Building SocietyUK
  • Norwich & Peterborough BS
  • Yorkshire BS
C Hoare & CoC Hoare & CoUK
Chorley & District Building SocietyChorley & District Building SocietyUK
CitibankCitibank Europe plcUK
Close Brothers SavingsClose Brothers LimitedUK
Clydesdale BankClydesdale Bank plcUK
  • Yorkshire Bank
The Co-operative BankThe Co-operative Bank plcUK
Guernsey
  • Britannia
  • Smile
Coutts & CoCoutts & CoUK
Coventry Building SocietyCoventry Building SocietyUK
  • Stroud & Swindon BS
Credit SuisseCredit Suisse (UK) LtdUK
Cumberland Building SocietyCumberland Building SocietyUK
Cynergy BankCynergy Bank LimitedUK


DBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Danske BankNorthern Bank LimitedUK
Darlington Building SocietyDarlington Building SocietyUK
Dudley Building SocietyDudley Building SocietyUK


EBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Earl Shilton Building SocietyEarl Shilton Building SocietyUK
Ecology Building SocietyEcology Building SocietyUK
EFG Private BankEFG Private Bank LtdUK


FBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Family Building SocietyNational Counties Building SocietyUK
  • National Counties Building Society
Fidor BankFidor Bank AGGermany
first directHSBC UK Bank plcUK
  • HSBC
FirstSaveFBN bank (UK) LtdUK
First Trust Bank (NI)Darlington Building SocietyUK
  • Allied Irish Bank (GB)
  • Allied Irish Bank (GB) Savings Direct
Ford MoneyFCE Bank plcUK
Furness Building SocietyFurness Building SocietyUK


GBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Gatehouse BankGatehouse Bank plcUK


HBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Habib Bank Zurich PlcHabib Bank AG ZurichUK
HalifaxBank of Scotland plcUK
  • Bank of Scotland
  • BM Savings
  • Birmingham Midshires
  • Saga
Hampshire Trust BankHampshire Trust Bank PlcUK
HandelsbankenSvenska Handelsbanken ABUK
Hanley Economic Building SocietyHanley Economic Building SocietyUK
Harpenden Building SocietyHarpenden Building SocietyUK
Hinckley & Rugby Building SocietyHinckley & Rugby Building SocietyUK
Hodge BankJulian Hodge Bank LtdUK
HSBCHSBC UK Bank plcUK
  • first direct
HSBC ExpatHSBC Bank InternationalJersey
Guernsey
Isle of Man
HSBC Private BankHSBC Private Bank (UK) LimitedUK


IBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
ICICI Bank UKICICI Bank UK plcUK
Ikano BankIkano Bank AB (publ)Sweden
Investec Bank (Channel Islands) LtdInvestec Bank (Channel Islands) LtdGuernsey
Jersey
Investec Bank plcInvestec Bank plcUK
Ipswich Building SocietyIpswich Building SocietyUK
Isle of Man BankIsle of Man BankIsle of Man


JBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
J P MorganJP Morgan Europe LtdUK


KBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Kent RelianceOne Savings Bank plcUK
Kleinwort HambrosSG Kleinwort Hambros Bank (CI) LimitedGuernsey
Isle of Man
Jersey


LBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Leeds Building SocietyLeeds Building SocietyUK
Leek United Building SocietyLeek United Building SocietyUK
Lloyds BankLloyds Bank plcUK
  • Scottish Widows Bank
  • Lloyds Bank Private Banking
Lloyds Bank InternationalLicensed in Gibraltar, Guernsey, Isle of Man, JerseyGibraltar
Guernsey
Isle of Man
Jersey
Loughborough Building SocietyLoughborough Building SocietyUK


MBack to Top
NameBanking LicenceProtection SchemeBrands under the same licence
Manchester Building SocietyManchester Building SocietyUK
Mansfield Building SocietyMansfield Building SocietyUK
    Marcus by Goldman Sachs®Goldman Sachs International BankUK
    Market Harborough Building SocietyMarket Harborough Building SocietyUK
    Marks & Spencer BankMarks & Spencer Financial Services plcUK
    Marsden Building SocietyMarsden Building SocietyUK
    Masthaven BankMasthaven Bank LimitedUK
    Melton Mowbray Building SocietyMelton Mowbray Building SocietyUK
    Metro Bank PlcMetro Bank PlcUK
    Moneycorp BankMoneycorp Bank LtdGibraltar
    Monmouthshire Building SocietyMonmouthshire Building SocietyUK


    NBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    National Counties Building SocietyNational Counties Building SocietyUK
    • Family Building Society
    National Savings & InvestmentsAn executive agency of the Chancellor of the Exchequer100% backed by HM Treasury
    Nationwide Building SocietyNationwide Building SocietyUK
    NatWestNational Westminster Bank plcUK
    NatWest OffshoreNatWest OffshoreGibraltar
    Guernsey
    Isle of Man
    Jersey
    Nedbank Private WealthNedbank Private Wealth Limited
    Licensed in the Isle of Man and Jersey
    UK
    Isle of Man
    Jersey
    Newbury Building SocietyNewbury Building SocietyUK
    Newcastle Building SocietyNewcastle Building SocietyUK
    Norwich & Peterborough Building SocietyYorkshire Building SocietyUK
    • Chelsea BS
    • Yorkshire BS
    Nottingham Building SocietyNottingham Building SocietyUK


    OBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    OakNorth BankOakNorth Bank PLCUK


    PBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Paragon BankParagon Bank plcUK
    PCF BankPCF Bank LtdUK
    Penrith Building SocietyPenrith Building SocietyIsle of Man
    Post Office®Bank of Ireland (UK) plcUK
    • Bank of Ireland UK
    Principality Building SocietyPrincipality Building SocietyUK
    Progressive Building SocietyProgressive Building SocietyUK
    Punjab National BankPunjab National Bank (International) plcUK


    QBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    QIB (UK)QIB (UK) PlcUK


    RBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Raphaels BankR Raphael & Sons plcUK
    RCI Bank UKRCI Bank UKUK
    Redwood BankRedwood Bank LimitedUK
    Royal Bank of Canada (CI)Royal Bank of Canada (CI)Guernsey
    Jersey
    Royal Bank of ScotlandRoyal Bank of Scotland plcUK
    • Adam & Company


    SBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Saffron Building SocietySaffron Building SocietyUK
    SagaBank of Scotland plcUK
    • Bank of Scotland
    • BM Savings
    • Birmingham Midshires
    • Halifax
    Sainsbury's FinanceSainsbury's Bank plcUK
    SantanderSantander UK plcUK
    Santander Private BankingSantander Private BankingJersey
    SchrodersSchroder & Co LtdUK
    Scottish Building SocietyScottish Building SocietyUK
    Scottish Widows BankLloyds Bank plcUK
    • Lloyds Bank
    • Llyods Bank Private Banking
    Secure Trust BankSecure Trust Bank plcUK
    Shawbrook BankShawbrook Bank LimitedUK
    Skipton Building SocietySkipton Building SocietyUK
    Skipton International LimitedSkipton International LimitedGuernsey
    SmileThe Co-operative Bank plcUK
    • Britannia
    • The Co-operative Bank
    Stafford Railway Building SocietyStafford Railway Building SocietyUK
    Standard Bank OffshoreStandard Bank OffshoreIsle of Man
    Jersey
    Starling BankStarling Bank LimitedUK
    State Bank of IndiaState Bank of IndiaUK
    Swansea Building SocietySwansea Building SocietyUK


    TBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Tandem BankTandem Bank LtdUK
    Teachers Building SocietyTeachers Building SocietyUK
    Tesco BankTesco Personal Finance plcUK
    Tipton & Coseley Building SocietyTipton & Coseley Building SocietyUK
    Triodos BankTriodos Bank NVEEA - Netherlands
    TSBTSB Bank plcUK
    Turkish Bank (UK)Turkish Bank (UK) LtdUK


    UBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Ulster BankUlster Bank LimitedUK
    Union Bank of IndiaUnion Bank of India (UK) LtdUK
    United Bank UKUnited National Bank LimitedUK
    United Trust Bank UKUnited Trust Bank LimitedUK


    VBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Vanquis BankVanquis Bank LtdUK
    Vernon Building SocietyVernon Building SocietyUK
    Virgin MoneyVirgin Money plcUK


    WBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Weatherbys Bank LimitedWeatherbys Bank LimitedUK
    Wesleyan BankWesleyan Bank LimitedUK
    West Bromwich Building SocietyWest Bromwich Building SocietyUK
    Wyelands BankWyelands Bank PlcUK


    YBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Yorkshire BankClydesdale Bank plcUK
    • Clydesdale Bank plc
    Yorkshire Building SocietyYorkshire Building SocietyUK
    • Chelsea BS
    • Norwich & Peterborough BS


    ZBack to Top
    NameBanking LicenceProtection SchemeBrands under the same licence
    Zenith BankZenith Bank (UK) LtdUK
    Zurich Bank International LtdZurich Bank International LtdIsle of Man



    What the different depositor compensation schemes cover

    United Kingdom

    The Financial Services Compensation Scheme (FSCS) protects cash investments up to £85,000 per person per UK Deposit Taking Licence. All UK authorised banks and building societies have a Deposit Taking licence. So in order to be fully protected, you should have no more than £85,000 with any one banking licence.

    Back to Top

    European Economic Area

    Banks regulated in other European Economic Area (EEA) member states can operate in the UK without UK regulation.

    This is called 'passporting' and means that the banks are regulated by the home country's regulator and covered by its compensation scheme.

    UK, EU and EEA deposit protection is unified under the terms of the Deposit Guarantee Schemes Directive. This means there is a Europe-wide minimum of €100,000 protection per individual per bank.

    The countries covered by this rule are:

    • Austria
    • Belgium
    • Bulgaria
    • Cyprus
    • Czech Republic
    • Denmark
    • Estonia
    • Finland
    • France
    • Germany
    • Greece
    • Hungary
    • Iceland
    • Ireland
    • Italy
    • Latvia
    • Liechtenstein
    • Lithuania
    • Luxembourg
    • Malta
    • Netherlands
    • Norway
    • Poland
    • Portugal
    • Romania
    • Slovakia
    • Slovenia
    • Spain
    • Sweden
    • United Kingdom
    Ireland

    The Ireland Deposit Guarantee Scheme applies to all Irish deposit institutions and covers the first €100,000 per person, per banking licence.

    Back to Top

    Gibraltar

    Here, 100% of the total of all qualifying deposits (up to a maximum of €100,000) are covered via the Gibraltar Deposit Guarantee Scheme.

    Back to Top

    Guernsey

    The first £50,000 per individual claimant per licensed institution is covered via the Guernsey Banking Deposit Compensation Scheme.

    Back to Top

    Isle of Man

    The Isle of Man's depositors' compensation scheme (DCS) that compensates up to £50,000 of net deposits per individual depositor.

    Back to Top

    Jersey

    Depositors Protection Scheme: individual depositors are protected up to £50,000 per person per Jersey Banking Group.

    Back to Top

    It's not who owns your bank, but the banking licence that's most important

    Compensation limits are not payable for each savings account you have with a particular bank, but for the total amount you hold with them.

    It doesn't matter who your bank is owned by, but rather whether the banking licence is shared with other brands in the same group that will affect your compensation entitlement.

    For example, in the UK, Halifax and Bank of Scotland are under the same banking licence, so you'll only be covered for £85,000 across the two brands under the terms of the Financial Services Compensation Scheme (or £150,000 for joint accounts). But NatWest and Royal Bank of Scotland, although both owned by RBS, have separate banking licences, so you would be covered by up to £85,000 for each bank.

    What about non-UK and EU banks?

    Banks based outside the European Economic Area (EEA) that offer savings accounts in the UK can only do so through a UK subsidiary directly authorised by the Prudential Regulation Authority (PRA). Being directly authorised by the PRA also means that they come fully under the UK Financial Services Compensation Scheme which, as far as savers are concerned, means that they are the same as any other UK bank.

    What Next?

    Compare the best UK savings accounts

    Search all UK savings accounts

    Compare the best offshore savings accounts
    (from banks based in Gibraltar, Guernsey, Isle of Man and Jersey)
    Search all offshore savings accounts

    More savings guides

    The figures and details shown are obtained from sources believed to be reliable. The accuracy and completeness of any information cannot be guaranteed, however, and no warranty or representation is given. Due to the recent mergers and acquisitions in the finance sector individuals are advised to check specific conditions with individual banks and institutions as joint licence compensation limits can be dependent upon the dates when individual accounts are opened.

    Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.