Glossary · Banking
FSCS (Financial Services Compensation Scheme)
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Definition: Protects deposits up to £85,000 per person per authorised bank, building society or credit union — and up to £85,000 for most investments and pensions.
Multiple brands operating under one authorisation share a single £85,000 limit. Up to £1 million 'temporary high balance' protection applies for six months after life-event deposits (e.g. house sale, inheritance).
Primary source: fscs.org.uk