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Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). For more information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk/. You can also visit our Financial Services Compensation Scheme page for more details.
Please read the guide protecting your money(PDF, 1.75 MB) Opens in a new browser window. for more information or visit www.fscs.org.uk. Visit the Financial Services Compensation Scheme website.Visit the Financial Services Compensation Scheme website.
You can also refer to our FSCS Information SheetView the FSCS Information Sheet (PDF, 119 kB) opens in a new browser window) (PDF, 89KB) for more details.
The Financial Services Compensation Scheme (FSCS) pays compensation to you if you lose money when a bank or other financial services provider goes out of business. The scheme has existed for some time and gained strength following the financial crisis of 2007.
The Financial Services Compensation Scheme (FSCS) intervenes as a last resort to compensate customers when a financial services company fails to fulfil its financial obligations. If you have a complaint you should always try to resolve it with the company first, and then with the Financial Ombudsman.
When a financial institution fails, the FSCS compensates individual account holders and small businesses with a turnover of less than a certain limit. Larger businesses can’t claim.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). For more information about the compensation provided by the FSCS, refer to the FSCS website at www.fscs.org.uk. You can also visit our Financial Services Compensation Scheme page for more details.
The FSCS covers:
Not all banks based in Europe fall under UK regulation. A few operate under a passport scheme that allows regulation in their home country. Yet, these banks typically fall under a European guarantee scheme that offers compensation up to €100,000.
Lloyds Bank is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority: all our savings accounts, current accounts and ISAs are covered by the FSCS.
Each separate institution registered with the FCA has its own £85,000 limit on compensation. But not all banks have separate registrations or separate limits.
If the same parent company owns two banks, you may only have one compensation limit covering all your savings with both banks. The FCA publishes a list of which companies own which banks at https://www.fca.org.uk/consumers/deposit-savings-protection
If you have more than £85,000 in savings, you should consider splitting it between separate institutions.
The FSCS also covers mortgages, insurance and investments, but these products have different compensation limits. Each product type has its own limit, separate from your bank account compensation.
These limits are:
If you lose money that was in a joint account, you’re each covered up to your personal claim limit of £85,000. This means there’s a total of £170,000 protection for the money in that account – but your personal limits are unchanged.
If you hold a current and savings account with one bank, the total coverage is £85,000 for all accounts combined.
The FSCS applies to companies regulated by the Financial Conduct Authority (FCA). The FCA usually does not regulate savings held offshore, and so the FSCS won’t cover them. For example, savings held in the Isle of Man or outside Europe are unlikely to be covered by the scheme.
Ask your bank where your savings are held and if they are covered by the scheme.
Lloyds and Lloyds Bank are trading names of Lloyds Bank plc. Registered office: 25 Gresham Street, London EC2V 7HN. Registered in England and Wales No. 2065. Lloyds Bank plc is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority under registration number 119278.
Eligible deposits with us are protected by the Financial Services Compensation Scheme (FSCS). We are covered by the Financial Ombudsman Service (FOS).
You can also visit our Financial Services Compensation Scheme page for more details. Please read the guide to protecting your money (PDF, 494KB) for more information or visit www.fscs.org.uk.