Financial Services Compensation Scheme

Please click here to view the Financial Compensation Scheme Information Sheet and Exclusion List

Important information about compensation arrangements
We are covered by the Financial Services Compensation Scheme (FSCS).  The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations.  Most depositors – including most individuals and small businesses – are covered by the scheme.

An eligible depositor is entitled to claim up to £85,000.  For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors the maximum amount that could be claimed would be £85,000 each (making a total of £170,000).  The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the building society, including their share of any joint account, and not to each separate account.

For further information about the scheme (including the amounts covered and eligibility to claim) please ask at your local branch, refer to the FSCS website www.FSCS.org.uk or call 020 7892 7300 or 0800 678 1100.

A deposit is excluded from protection if:

1. The holder and any beneficiary owner of the deposit have never been identified in accordance with money laundering requirements. For further information, contact your bank, building society or credit union

2. The deposit arises out of transactions in connection with which there has been a criminal conviction for money laundering

3. It is a deposit made by a depositor which is one of the following:

• Credit Institution
• Financial Institution
• Investment firm
• Insurance undertaking
• Reinsurance undertaking
• Collective investment undertaking
• Pension or retirement fund *
• Public authority

For further information about exclusions, refer to the FSCS website at www.fscs.org.uk

* Deposits by personal pension scheme, stakeholder pension schemes and occupational pension scheme of micro, small and medium sized enterprises are not excluded.

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