The Financial Services Compensation Scheme (FSCS) is a free, independent scheme set up under UK law to protect customers of authorised financial services firms.

If a bank, building society or credit union fails and can’t return your money, the FSCS may automatically compensate you.

 

How protection works

FSCS protection applies per person or per company, per authorised bank, not per account.

This means:

• If you have more than one account with the same bank, your balances are added together
• The £120,000 limit applies to that combined total
• For joint accounts, the limit applies to each account holder separately, so up to £240,000.

 

Our FSCS cover

FSCS protection is based on a bank’s licence, rather than its name.

Some banking groups operate more than one name under the same banking licence. In these cases, the FSCS limit is shared across all those brands.

At HTB, we don’t share our protection with anyone, so your £120,000 with us is fully protected.

Our FSCS Information & Exclusions factsheet explains your FSCS protection with us in more detail.

 

For example

• If you hold £70,000 in one account and £40,000 in another with us, you have £110,000 protected
• If you and another person hold £200,000 in a joint account, you’re fully covered
• If you hold savings with different banks, each authorised bank has its own FSCS limit.