The FSCS is a government-backed program that protects your money and compensates you if your bank, building society, or savings provider goes bust.
It covers up to £85,000 - or £170,000 for joint accounts - held in each official UK financial institution. It also provides cover for other sorts of financial products such as debt management, funeral plans, insurance, credit unions, investments, mortgages and pensions.
There are several banking groups in the UK, but if you have a total of £85,000 or less with any of them, all your money will be returned to you in the event of each bank or building society in the group collapsing. Other types of institutions have different limits. You can check them all on the FSCS website.