Are My Savings Secure?

In Northern Ireland, eligible deposits held in banks, building societies and credit unions are covered by the Financial Services Compensation Scheme (FSCS) . If a covered deposit is unavailable because a bank, building society or credit union is unable to meet its financial obligations, depositors are repaid by the FSCS. This repayment covers a maximum of £85,000 per bank, building society or credit union. This means that all eligible deposits at the same bank, building society or credit union are added up in order to determine the coverage level. If, for instance a depositor holds a savings account with £80,000 and a current account with £20,000, he or she will only be repaid £85,000.

More information on this scheme can be obtained at http://www.fscs.org.uk

Download your guide to the Financial Services Compensation Scheme