- FSCS protects deposits up to £85,000 per person
Founded in 1924, İşbank has continued to grow through innovation and their strategy to achieve sustainable and profitable growth based upon their philosophy of being, “the bank closest to its customers”. İşbank is Turkey’s largest private bank*, and in 2020, it was ranked 156th in The Banker Magazine’s list of “Top 1000 World Banks”. İşbank strives to provide the best quality commercial and retail banking services to its customers, which as of the end of 2020, included approximately 9.2 million digital customers.
The FSCS protects deposits made into savings accounts offered by İşbank through our marketplace, and İşbank Ltd is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.
(*) As of December 2020, in terms of total assets, total loans, total deposits and shareholders’ equity.
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 https://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.
Who is Raisin?
At Raisin UK, we have one mission; to help you save time and make money. In Europe, Raisin has already helped over 150,000 consumers get competitive rates on their savings and now we're shaking up the UK savings market.
The Raisin UK savings marketplace is designed to provide savers with an easy way to apply, manage and fund savings products - all with attractive rates.
By registering for a Raisin UK Account, you'll only ever need to fill in one application form to enjoy simple one-click funding on a range of savings products from our partner banks.