Whether you are a business leader, self-employed or a charity, you still need to know that your business' cash savings are protected. All UK banks and building societies are part of the UK Financial Services Compensation Scheme; a depositor protection scheme, which may safeguard the money in your business bank account (up to a certain amount) against their financial troubles. Generally the deposits of most non-financial businesses will be covered, but you should always check with your bank first.
As the Brexit transition period is over, banks must now operate in the UK as a UK-authorised institution, or under the UK regulators’ Temporary Permissions Regime. This is an interim stage where the institution intends to become authorised in the UK but has yet to be granted permission by the UK regulators. Their UK customers’ deposits are protected by the FSCS during this period so have equivalent protection to authorised institutions in the UK.
This list will provide you with the information of where your bank or building society is licensed and what depositor protection guarantees you’ll get if they go bust.
This guide details the depositor protection rules for businesses in accounts held in the UK and crown dependencies.
The depositor compensation schemes for businesses and charities have different rules and limits in differing areas. You can find the relevant depositor compensation schemes by jurisdiction below.
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The Financial Services Compensation Scheme (FSCS) protects cash deposits of eligible businesses up to £85,000. Some banks and building societies share their banking licence and protection limit across multiple brands and subsidiaries. When this is the case the £85,000 limit is shared across all these organisations. To protect all your money, you should ensure that amounts over the limit are deposited with a provider with a separate banking licence. If your business or charity has borrowed money from the bank or building society the compensation you receive cannot be used to reduce or repay your debt. Deposits made by the following types of businesses or organisations are excluded from coverage of the scheme: |
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Previously, banks regulated in other European Economic Area (EEA) member states could operate in the UK without UK regulation Under a process called 'passporting' which meant they were regulated by the home country's regulator and covered by its compensation scheme. The passporting scheme ended on 31 December 2020 when all banks operating in the UK must be authorised by the UK authorities. A small number of banks are operating in the UK under a temporary UK permission described above. Any money your business previously deposited with an EU bank will be covered by that country’s deposit protection scheme if they have chosen not to become a UK-authorised bank. |
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The Gibraltar Deposit Guarantee Scheme protects the money of small businesses, registered charities and partnerships up to a maximum of €100,000 or the equivalent in Sterling. Some banks and building societies share their banking licence and protection limit across multiple brands and subsidiaries, which means that the total €100,000 limit is shared across all these organisations. To ensure all your money is protected it is advisable to deposit amounts over the limit with a provider that has a separate banking licence. If your business or charity has borrowed money from the bank or building society the compensation you receive can be used to reduce or repay your debt and any funds remaining can then be paid to you. |
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The Guernsey Depositors’ Compensation Scheme protects up to £50,000 for registered charities, however businesses and partnerships are not protected. Some banks and building societies share their banking licence and protection limit across multiple brands and subsidiaries, which means that the total £50,000 limit is shared across all these organisations. If you are a registered charity to ensure all your money is protected it is advisable to deposit amounts over the limit with a provider that has a separate banking licence. If your charity has borrowed money from the bank or building society the compensation you receive can be used to reduce or repay your debt and any funds remaining can then be paid to you. |
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The Isle of Man Depositors’ Protection Scheme protects the money of businesses, registered charities and partnerships up to a limit of £20,000. Some banks and building societies share their banking licence and protection limit across multiple brands and subsidiaries, which means that the total £20,000 limit is shared across all these organisations. To ensure that all your money is protected it is advisable to deposit amounts over the limit with a provider that has a separate banking licence. If your business or charity has borrowed money from the bank or building society the compensation you receive can be used to reduce or repay your debt and any funds remaining can then be paid to your business or charity. |
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The Jersey Depositors’ Compensation Scheme protects the money of registered charities to a limit of £50,000. Businesses and partnerships are not protected. Some banks and building societies share their banking licence and protection limit across multiple brands and subsidiaries, which means that the total £50,000 limit is shared across all these organisations. If you are a registered charity to ensure that all your money is protected it is advisable to deposit amounts over the limit with a provider that has a separate banking licence. If you have borrowed money from the bank or building society the compensation you receive cannot be used to reduce or repay your debt. |
The figures and details shown are obtained from sources believed to be reliable. The accuracy and completeness of any information cannot be guaranteed, however, and no warranty or representation is given. Due to the recent mergers and acquisitions in the finance sector individuals are advised to check specific conditions with individual banks and institutions as joint licence compensation limits can be dependent upon the dates when individual accounts are opened.
Name | Banking Licence | Protection Scheme | Brands under the same licence |
AA Financial Services |
Bank of Ireland (UK) plc |
UK |
Bank of Ireland Post Office Money |
Adam and Company | Royal Bank of Scotland | UK |
Royal Bank of Scotland |
Ahli United Bank (UK) | Ahli United Bank (UK) plc | UK | |
AIB | AIB Group (UK) plc | Allied Irish Bank (GB) | |
Aldermore | Aldermore Bank plc | UK | |
Allica Bank |
Allica Bank Limited |
UK |
|
Allied Irish Bank (GB) | AIB Group (UK) plc | UK |
AIB |
Al Rayan Bank | Al Rayan Bank plc | UK | |
Arbothnot Direct | Arbuthnot Latham & Co. Ltd | UK | Arbuthnot Latham |
Arbuthnot Latham | Arbuthnot Latham & Co. Ltd | UK | Arbuthnot Direct |
Atom Bank | Atom Bank plc | UK | |
Axis Bank | Axis Bank UK | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Bank of Baroda | Bank of Baroda (UK) Limited | UK | |
Bank of Ceylon (UK) | Bank of Ceylon (UK) Ltd | UK | |
Bank of China (UK) | Bank of China (UK) Limited | UK | |
Bank of Ireland UK |
Bank of Ireland (UK) plc |
UK |
Post Office ® Money AA Financial Services |
Bank of London and The Middle East | Bank of London and The Middle East plc | UK | |
Bank of Scotland | Bank of Scotland plc | UK |
Birmingham Midshires Halifax Intelligent Finance |
Barclays Bank |
Barclays Bank UK plc |
UK |
|
Barclays Bank (Offshore Banking) |
Barclays Bank plc |
Guernsey Isle of Man Jersey |
|
Bath Building Society | Bath Investment and Building Society | UK | |
Beehive Money | Nottingham Building Society | UK |
Nottingham Building Society |
Beverley Building Society | Beverley Building Society | UK | |
Birmingham Midshires | Bank of Scotland plc | UK | Intelligent Finance |
Britannia | The Co-operative Bank plc | UK |
The Co-operative Bank Smile |
Brown Shipley | Brown Shipley & Co Limited | UK | |
Buckinghamshire Building Society | Buckinghamshire Building Society | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
CAF Bank | Charities Aid Foundation | UK | |
Cahoot | Santander UK plc | UK | Santander |
Cambridge & Counties Bank | Cambridge & Counties Bank | UK | |
Cambridge Building Society | Cambridge Building Society | UK | |
Castle Trust |
Castle Trust Capital plc |
UK |
|
Cater Allen Private Bank | Cater Allen Ltd | UK | |
Charity Bank | The Charity Bank Ltd | UK | |
Charter Savings Bank | Charter Court Financial Services Ltd | UK | |
Chase | JP Morgan Europe Ltd | UK |
JP Morgan |
Chelsea Building Society | Yorkshire Building Society | UK |
Yorkshire Building Society |
C Hoare & Co | C Hoare & Co | UK | |
Chorley & District Building Society | Chorley & District Building Society | UK | |
Citibank | Citibank UK Ltd | UK | |
Close Brothers Savings | Close Brothers Limited | UK | |
Clydesdale Bank | Clydesdale Bank plc | UK |
Yorkshire Bank Virgin Money |
Conister Bank | Conister Bank Ltd | Isle of Man |
|
The Co-operative Bank | The Co-operative Bank plc | UK Guernsey |
Britannia Smile |
Coutts & Co | Coutts & Co | UK | |
Coventry Building Society | Coventry Building Society | UK | Stroud & Swindon Building Society |
Credit Suisse | Credit Suisse (UK) Ltd | UK | |
Cumberland Building Society | Cumberland Building Society | UK | |
Cynergy Bank | Cynergy Bank Limited | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Danske Bank | Northern Bank Limited | UK | |
Darlington Building Society | Darlington Building Society | UK | |
Dudley Building Society | Dudley Building Society | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Earl Shilton Building Society | Earl Shilton Building Society | UK | |
Ecology Building Society | Ecology Building Society | UK | |
EFG Private Bank | EFG Private Bank Ltd | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Family Building Society | National Counties Building Society | UK |
National Counties Building Society |
FCMB Bank | FCMB Bank (UK) Ltd | UK | |
first direct | HSBC UK Bank plc | UK |
HSBC |
FirstSave | FBN bank (UK) Ltd | UK | |
Ford Money | FCE Bank plc | UK | |
Furness Building Society | Furness Building Society | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Gatehouse Bank | Gatehouse Bank plc | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Habib Bank Zurich Plc | Habib Bank AG Zurich | UK | |
Halifax | Bank of Scotland plc | UK |
Bank of Scotland Birmingham Midshires Intelligent Finance |
Hampshire Trust Bank | Hampshire Trust Bank Plc | UK | |
Handelsbanken | Svenska Handelsbanken AB | UK | |
Hanley Economic Building Society | Hanley Economic Building Society | UK | |
Harpenden Building Society | Harpenden Building Society | UK | |
Hinckley & Rugby Building Society | Hinckley & Rugby Building Society | UK | |
Hodge Bank | Julian Hodge Bank Ltd | UK | |
HSBC | HSBC UK Bank plc | UK |
first direct |
HSBC Expat |
HSBC Bank plc |
Jersey |
|
HSBC Private Bank | HSBC Private Bank (UK) Limited | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
ICICI Bank UK | ICICI Bank UK plc | UK | |
Ikano Bank | Ikano Bank AB (publ) | UK | |
Investec Bank (Channel Islands) Ltd | Investec Bank (Channel Islands) Ltd | Guernsey | |
Investec Bank plc |
Investec Bank plc |
UK |
Moneybox Plum |
IsBank |
Turkiye Is Bankasi As |
UK |
|
Isle of Man Bank |
The Royal Bank of Scotland International |
Isle of Man |
NatWest International |
Name |
Banking Licence |
Protection Scheme |
Brands under the same licence |
JN Bank |
JN Bank UK Limited |
UK |
|
J P Morgan |
JP Morgan Europe Ltd |
UK |
Chase |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Kent Reliance | One Savings Bank plc | UK | |
Kleinwort Hambros | SG Kleinwort Hambros Bank (CI) Limited |
Guernsey Jersey |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Leeds Building Society | Leeds Building Society |
UK Gibraltar |
|
Leek United Building Society | Leek United Building Society | UK | |
Lloyds Bank | Lloyds Bank plc | UK |
Scottish Widows Bank Lloyds Bank Private Banking Cheltenham & Gloucester |
Lloyds Bank International |
Lloyds Bank Capital Markets plc |
Guernsey Isle of Man Jersey |
|
Lloyds Bank Private Banking |
Lloyds Bank plc |
|
Scottish Widows Bank Lloyds Bank Cheltenham & Gloucester |
Loughborough Building Society | Loughborough Building Society | UK |
Name |
Banking Licence |
Protection Scheme |
Brands under the same licence |
M&S Bank |
Marks & Spencer Financial Services plc |
UK |
|
Manchester Building Society | Manchester Building Society |
UK |
|
Mansfield Building Society |
Mansfield Building Society |
UK |
|
Marcus by Goldman Sachs |
Marcus by Goldman Sachs |
UK |
|
Market Harborough Building Society |
Market Harborough Building Society |
UK |
|
Marsden Building Society |
Marsden Building Society |
UK |
|
Masthaven |
Masthaven |
UK |
|
Metro Bank |
Metro Bank |
UK |
|
Moneybox |
Moneybox |
UK |
Investec Bank plc Plum Shawbrook Bank |
Moneycorp Bank |
Moneycorp Bank |
Gibraltar |
|
Monmouthshire Building Society |
Monmouthshire Building Society |
UK |
|
Monument Bank |
Monument Bank Ltd |
UK |
|
Monzo Bank |
Monzo Bank |
UK |
|
My Community Bank |
My Community Bank |
UK |
|
Name | Banking Licence | Protection Scheme | Brands under the same licence |
National Counties Building Society | National Counties Building Society | UK |
Family Building Society |
National Savings & Investments | An executive agency of the Chancellor of the Exchequer | 100% backed by HM Treasury | |
Nationwide Building Society | Nationwide Building Society | UK | |
NatWest | National Westminster Bank plc | UK | |
NatWest Offshore |
The Royal Bank of Scotland International plc |
Gibraltar |
Isle of Man Bank |
Nedbank Private Wealth | Nedbank Private Wealth Limited Licensed in the Isle of Man and Jersey |
UK Isle of Man |
|
Newbury Building Society | Newbury Building Society | UK | |
Newcastle Building Society | Newcastle Building Society | UK | |
Nottingham Building Society | Nottingham Building Society | UK |
Beehive Money |
Name |
Banking Licence |
Protection Scheme |
Brands under the same licence |
OakNorth Bank |
OakNorth Bank PLC |
UK |
|
Oxbury Bank |
Oxbury Bank Plc |
UK |
|
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Paragon Bank | Paragon Bank plc | UK | |
PCF Bank | PCF Bank Ltd | UK | |
Penrith Building Society |
Penrith Building Society |
UK |
|
Plum |
Investec Bank plc |
UK |
Investec Bank plc Moneybox |
Post Office® Money |
Bank of Ireland (UK) plc |
UK |
Bank of Ireland UK AA Financial Services |
Principality Building Society | Principality Building Society | UK | |
Progressive Building Society | Progressive Building Society | UK | |
Punjab National Bank | Punjab National Bank (International) plc | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
QIB (UK) | QIB (UK) Plc | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
RCI Bank UK | RCI Bank UK Ltd | UK | |
Redwood Bank | Redwood Bank Limited | UK | |
Reliance Bank |
Reliance Bank Limited |
UK |
|
Royal Bank of Canada (CI) | Royal Bank of Canada (Channel Islands) Ltd | Guernsey Jersey |
|
Royal Bank of Scotland | Royal Bank of Scotland plc | UK |
Adam & Company |
Name |
Banking Licence |
Protection Scheme |
Brands under the same licence |
Saffron Building Society |
Saffron Building Society |
UK |
|
Saga |
Bank of Scotland plc |
UK |
Marcus by Goldman Sachs® |
Sainsbury's Bank |
Sainsbury's Bank plc |
UK |
|
Santander |
Santander UK plc |
UK |
Cahoot |
Santander International |
Santander Financial Services plc |
Isle of Man Jersey |
|
Scottish Building Society |
Scottish Building Society |
UK |
|
Scottish Widows Bank |
Lloyds Bank plc |
UK |
Cheltenham & Gloucester Lloyds Bank Lloyds Bank Private Banking Mayfair Private Bank, Worldwide Service |
Secure Trust Bank |
Secure Trust Bank plc |
UK |
|
Sensible Savings |
The Access Bank UK Limited |
UK |
|
Shawbrook Bank |
Shawbrook Bank Limited |
UK |
Moneybox |
Skipton Building Society |
Skipton Building Society |
UK |
|
Skipton International Limited |
Skipton International Limited |
Guernsey |
|
Smile |
The Co-operative Bank plc |
UK |
Britannia The Co-operative Bank |
Stafford Railway Building Society |
Stafford Railway Building Society |
UK |
|
Standard Bank |
Standard Bank Jersey Ltd Standard Bank Isle of Man Ltd |
Isle of Man |
|
Starling Bank |
Starling Bank Limited |
UK |
|
State Bank of India |
State Bank of India |
UK |
|
Suffolk Building Society |
Suffolk Building Society |
UK |
|
Swansea Building Society |
Swansea Building Society |
UK |
|
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Tandem Bank | Tandem Bank Ltd | UK | |
Teachers Building Society | Teachers Building Society | UK | |
Tesco Bank | Tesco Personal Finance plc | UK | |
Tipton & Coseley Building Society | Tipton & Coseley Building Society | UK | |
Triodos Bank | Triodos Bank UK Ltd | UK | |
TSB | TSB Bank plc | UK | |
Turkish Bank (UK) | Turkish Bank (UK) Ltd | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
UBL UK | United National Bank Limited | UK | |
Ulster Bank | Ulster Bank Limited | UK | |
Union Bank of India | Union Bank of India (UK) Ltd | UK | |
United Trust Bank UK | United Trust Bank Limited | UK | |
Unity Trust Bank | Unity Trust Bank plc | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Vanquis Bank | Vanquis Bank Ltd | UK | |
Vernon Building Society | Vernon Building Society | UK | |
Virgin Money |
Clydesdale Bank plc | UK |
Yorkshire Bank Clydesdale Bank |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Weatherbys Bank Limited | Weatherbys Bank Limited | UK | |
Wesleyan Bank | Wesleyan Bank Limited | UK | |
West Brom Building Society | West Bromwich Building Society | UK | |
Wyelands Bank | Wyelands Bank Plc | UK |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Yorkshire Bank | Clydesdale Bank plc | UK |
Clydesdale Bank Virgin Money |
Yorkshire Building Society | Yorkshire Building Society | UK |
Chelsea Building Society |
Name | Banking Licence | Protection Scheme | Brands under the same licence |
Zenith Bank | Zenith Bank (UK) Ltd | UK | |
Zopa | Zopa Bank Limited | UK |
Disclaimer: This information is intended solely to provide guidance and is not financial advice. Moneyfacts will not be liable for any loss arising from your use or reliance on this information. If you are in any doubt, Moneyfacts recommends you obtain independent financial advice.