# What is FSCS protection?

> Quick answer · Last updated 1 April 2026

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## In short

Up to £85,000 per person, per UK-authorised banking group, paid out if your bank or building society fails.

The Financial Services Compensation Scheme protects deposits in UK-authorised banks, building societies and credit unions up to £85,000 per person per banking group. Joint accounts get a combined £170,000.

The 'banking group' wording matters: several familiar brands share a single licence (for example, HSBC and First Direct), so spreading money across brands in the same group does not double your cover.

FSCS also protects pensions, investments and some insurance products — but at different limits and only against the provider failing, not against market losses.

## Related

- [Banking guide](https://moneyguide.org.uk/banking/)

## Primary source

fscs.org.uk

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.