Guides › Savings and Investments › Bank or Investment Firm Went Bust: FSCS Protection
Bank or Investment Firm Went Bust: FSCS Protection
If a UK bank, building society or credit union fails, the Financial Services Compensation Scheme protects up to £120,000 per eligible person, per firm, and pays automatically. If an authorised investment firm fails, it protects up to £85,000 per person, per firm.
At a Glance
Your Rights
What the rules say, with a link to the official source for each.
FSCS Protection
Limits
Deposits are protected up to £120,000 per eligible person, per bank, building society or credit union (failures after 30 November 2025); joint accounts per person; you do not need to do anything. Temporary high balances up to £1.4 million for six months. Investments up to £85,000 per person, per firm (failures after 1 April 2019). Pension provider failure: 100%. Insurance: 100% for compulsory and long-term policies, 90% for others. source
Time Limits to Know
Miss a deadline and you can lose a right. Check the dates on your own paperwork.
- Six monthsTemporary high balance protectionFrom the first deposit
Steps to Take
Step 1 of 5
Check whether your firm is covered on the FSCS website.
Step 2 of 5
For savings, wait for the automatic payment.
Step 3 of 5
For investments, follow the FSCS claim process.
Step 4 of 5
Keep statements as evidence.
Step 5 of 5
Be wary of anyone charging to claim for you.
(Tap the numbers to reveal steps)
Where to Go If It Is Not Put Right
Your options, in order, and when each one applies.
Financial Services Compensation Scheme
Free; savings paid automatically.
Good to Know
Small things that make your complaint stronger.
Spread large savings across different banking licences.
Want Help?
If you would like one of our team to look at your problem, our initial case review is free. We cannot guarantee any outcome and we do not give legal advice.
Lead reviewer
Luke Marley
Founder and Lead Reviewer
Luke founded CPUK in 2026 after seeing how hard it is for ordinary people to get problems with companies put right. He oversees our guides and checks them against official sources.
Research by Katie Burt, Co-founder and Operations Lead (17 years in the care sector, including managing services for vulnerable adults), and the CPUK Research Team. Researched with AI-assisted research tools, then checked and corrected by our team.
Last checked: 13 October 2026. We are not paid by the companies we write about. Adverts never affect our guidance. Read our editorial policy.
Sources and official links
- fscs.org.uk/what-we-cover Checked 13 October 2026