Bank of Ceylon (UK) Ltd

Bank of Ceylon (UK) Ltd

  • FSCS protects deposits up to £85,000 per person

All offers from Bank of Ceylon (UK) Ltd

About Bank of Ceylon (UK) Ltd

Bank of Ceylon (UK) Limited (BOC UK) is a wholly owned subsidiary of Bank of Ceylon, Sri Lanka (BOC) and has a single office in the UK. BOC is the largest bank in Sri Lanka in terms of asset base and has branches in India, Maldives and Seychelles.
BOC UK’s business operated as a branch of BOC since 1949 until it was converted into a subsidiary in 2010, and is now authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority (PRA).
The bank’s business model focuses on providing wholesale banking, trade finance, correspondent banking services, and granting commercial and buy-to-let loans within retail banking.
The Financial Services Compensation Scheme (FSCS), the UK’s statutory deposit guarantee scheme, protects all eligible deposits offered by BOC UK through the savings marketplace.

Bank details

Headquarters: London
Year established: 1939

Security and deposit guarantee

Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) The FSCS is the United Kingdom’s statutory deposit guarantee scheme that covers deposits in individual savings accounts up to £85,000, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It is available for deposits with most UK high-street and online banks and means if the bank fails, and deposits become unavailable, the scheme may cover your deposit account deposit up to the £85,000 per person, per banking group limit.

Compensation limits are per person per firm, not per deposit. Be aware that if you have other deposits with this bank (or banking group) then the £85,000 protection applies only to eligible deposits up to this limit.

Timescales for the return of your money can vary between different banks and banking groups. This bank holds funds under a trust model. Funds held under a trust model can take up to three months to be returned, but in most cases will be returned sooner than this.

Who is Raisin?

We are the UK savings marketplace for Raisin, one of Europe’s most successful technology-led financial services companies. We want to get Britain saving, so we connect savers with a range of banks and building societies offering deposit-protected savings accounts with competitive interest rates.

Using our savings marketplace is simple. By registering for a Raisin UK Account, you'll only ever need to fill in one application form. Then you can browse, apply for and fund a range of savings accounts, and manage everything under one roof. No paperwork or endless passwords to remember - just a free, easy way to grow your savings.