The FSCS (Financial Services Compensation Scheme) is the backup fund that all banks and building societies operating in the UK are forced to pay into.

It's designed to protect consumer savings in the event of bank collapse.

However, FSCS compensation isn't limitless so you need to make sure your savings are safe; use our FSCS limits search to find our if your money is protected.

What does this mean for my savings?

These brands operate under a single FSA licence. This means they also share FSCS compensation limits.

Consequently, you can only hold a combined total of £85,000 in accounts with these brands if you want your money to remain fully protected.

The FSCS compensation limit for joint accounts is £170,000, so the combined total of all your savings in joint accounts held with these brands must be less than £170,000 if you want to make sure all your savings are safe.

Any money in excess of the FSCS compensation limit shared by these brands will not be protected in the event of bank collapse.

Read our guide: Which Banks Count as One Under the Financial Services Compensation Scheme (FSCS) to find out how to make sure your savings are save.

Use our savings account comparison table to find accounts that will keep your savings safe.