Guides › Money, Scams and Insurance › Savings and Investments
Savings and Investments
Money in UK banks, building societies and credit unions is protected up to set limits if the firm fails, and regulated investment firms are covered in some situations too. If a firm gives unsuitable advice, misleads you or makes mistakes, you can complain to it and then to the free Financial Ombudsman Service.
At a Glance
Your Rights
What the rules say, with a link to the official source for each.
Protection
Savings Protection
The Financial Services Compensation Scheme (FSCS) protects deposits up to £120,000 per eligible person, per bank, building society or credit union, for firms that fail after 30 November 2025. It pays automatically. Temporary high balances, such as house sale money, are protected up to £1.4 million for six months. source
Investment Protection
For investment firms that fail, the FSCS protects up to £85,000 per eligible person, per firm (failures after 1 April 2019). It does not cover investments simply falling in value. source
ISAs
ISA Rules
You can save up to £20,000 a year across ISAs in the 2026 to 2027 tax year, tax-free. There are four types: cash, stocks and shares, innovative finance and Lifetime ISAs. You must be 18 or over (under 40 to open a Lifetime ISA), and ISAs cannot be joint. source
Complaints and Scams
What You Can Complain About
The Financial Ombudsman Service looks at investment complaints such as being advised into an unsuitable investment, being misled, administrative errors, overcharging, and problems with transfers, share-dealing platforms or charges. If it upholds your complaint, the firm must put you back where you would have been. source
Unregulated Crypto
Most crypto activities are not regulated in the UK, and the FSCS will not protect you if a crypto firm goes out of business. source
Check the Firm First
Before investing, check the firm on the FCA register and warning list, and use the FCA ScamSmart tool. Unexpected contact, pressure to act fast and high returns described as low risk are warning signs. source
Time Limits to Know
Miss a deadline and you can lose a right. Check the dates on your own paperwork.
- 8 weeksFirm answers your complaint8 weeks for most complaints
- 6 monthsRefer to the Financial Ombudsman ServiceWithin 6 months of the final response
- 6 monthsTemporary high balance protectionSix months from the first deposit
Where to Go If It Is Not Put Right
Free routes to escalate, and when each one applies.
The Firm's Complaints Team
Always start here, in writing.
Financial Ombudsman Service
After 8 weeks or a final response. Free.
Financial Services Compensation Scheme (FSCS)
If an authorised firm has failed and cannot pay what it owes you.
Steps to Take
Step 1 of 6
Check the firm is authorised on the FCA register before you put money in.
Step 2 of 6
Keep savings within the FSCS limit per banking licence if you can.
Step 3 of 6
If something goes wrong, complain to the firm in writing.
Step 4 of 6
After 8 weeks, or a final response, go to the Financial Ombudsman Service.
Step 5 of 6
If a firm has failed, check the FSCS website for how to claim.
Step 6 of 6
Report scams to the FCA and Report Fraud.
(Tap the numbers to reveal steps)
Evidence and Your Letter
Gather your evidence, then build a letter you can send in minutes.
Evidence Checklist
0 of 5 gatheredTap each one when you have it.
CPUKLetter Generator
How This Works
- 1
Tick off the evidence you already have, and see what is still missing.
- 2
Answer the letter questions. Your answers fill in the wording for you.
- 3
Copy or download the letter, check every detail, and send it yourself.
A template, not legal advice.
Watch Out For
Common traps and scams to avoid.
Clone firms that copy the name of a real authorised firm: contact the firm using details from the FCA register.
Crypto "investment" offers on social media promising fast, high returns.
Recovery scams offering to get lost investment money back for a fee.
Recent or changing rules: tap to read
Checked 13 October 2026. The FSCS deposit limit rose to £120,000 on 1 December 2025. The ISA allowance shown is for the 2026 to 2027 tax year.
Common Problems
Step-by-step help for a specific problem covered by this guide.
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.
Not sure where you stand? Try our action plan tool or the free letter templates.
Sources and official links
- fscs.org.uk/what-we-cover/ Checked 13 October 2026
- gov.uk/individual-savings-accounts Checked 13 October 2026
- financial-ombudsman.org.uk/consumers/complaints-can-help/investments Checked 13 October 2026
- fca.org.uk/consumers/crypto-investment-scams Checked 13 October 2026
- moneyhelper.org.uk/en/money-troubles/scams/how-to-spot-a-pension-scam Checked 13 October 2026
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.