More about deposit protection

Protecting your deposits

All of our partner banks featured on are covered by the UK’s Financial Services Compensation Scheme (FSCS), or the European equivalent, so you can rest assured that savings deposit accounts opened through Raisin UK are protected up to the statutory limits provided by these deposit protection schemes.

What is the FSCS?

The FSCS is a UK Government-backed policy that covers deposits in savings accounts up to £85,000, or £170,000 if you have a joint account, and investments up to £50,000 per person, per banking group regulated by the Financial Conduct Authority or the Prudential Regulation Authority. It’s available for deposits with most UK high-street and online banks and means if the bank fails and deposits become unavailable, then the scheme will cover your savings account deposit up to the £85,000 per person per banking group limit.

The FSCS will pay compensation up to the limit of £85,000 per person, per authorised institution/banking group. However, if each of the banks is covered by a single authorisation within a group, the FSCS will only pay compensation up to a total limit of £85,000 once. This limit will be for the total of all the accounts you have with the different bank brands under the authorisation, irrespective of how many different institutions a person holds accounts with.

Raisin UK will always let you know which products are within the same banking group, so you can make informed decisions as to which products are right for you. 

How do I know which scheme my savings deposit is protected with?

We make it easy to see how your deposits are protected when you’re on our site.  Simply look for the FSCS logo next to the bank or savings product you are looking at on our site.