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Glossary

FSCS protection:

/ɛf ɛs si ɛs prəˈtɛkʃən/ noun FSCS protects customers of financial services firms that have failed, to help keep your business funds safe.

FSCS (Financial Services Compensation Scheme) protects customers of financial services firms that have failed.

If a UK-authorised bank, building society or credit union fails, FSCS can step in to compensate each eligible company depositor up to £85,000.

This protection covers business funds as well as personal funds, but there are some limits, and if you hold funds with the same bank in both personal and business accounts, you may only be protected up to £85,000 in total.

Balances over £85,000 will not be protected.

Make sure you understand how FSCS protects your funds by reading the resources below.

Keeping funds in a non FSCS protected account means your balance may be at risk of being lost, should the financial organisation fail.

Always look for the FSCS mark on business bank accounts or financial products.

FSCS Protected mark

Advice and guides from the ecosystem

FSCS
FSCS (Financial Services Compensation Scheme) Website
The official website of the FSCS, full of FAQs and details on how the scheme works.
FSCS
Can I claim compensation for my small business, limited company or charity?
FSCS Podcast episode on protecting your business funds
FSCS
Small businesses & limited companies - rules and guidance
Further detail on what is and isn't protected, especially around situations where you hold multiple types of balances (i.e. personal and business), limited companies vs sole traders, or partnerships and joint accounts.
Last Updated:

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