- FSCS protects deposits up to £85,000 per person
ICICI Bank UK plc was established in the UK in 2003 and offers a range of personal, business, corporate and investment banking services in the UK and Europe. The bank is a subsidiary of ICICI Bank Limited, which has over 60 years of experience in finance and a presence in 17 countries.
|Number of customers:||250000|
Deposits are eligible for protection by the Financial Services Compensation Scheme (FSCS) http://www.fscs.org.uk/. 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.
Your deposit will be administered by Meteor Asset Management Limited (MAM) and Meteor Investment Management Limited (MIM) who will process your application and cash respectively. Cash and deposits will be held by MIM and MAM in trust for you under FCA client money and asset rules.
In the event that MIM or MAM cannot meet their obligations you will remain the beneficial owner of any deposits purchased for you, and also cash held on your behalf in MIM’s client account. In both cases these will remain covered under the FSCS protection for the deposit taker or the banks holding client money to £85,000. For more details please see our MAM Terms and Conditions http://www.raisin.co.uk/terms-and-conditions/
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.
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