Financial Services Compensation Scheme (FSCS)

If you have accounts with both of us, your eligible deposits with each will be protected. This is up to the total of £120,000 each.

This is because at the moment, we’re operating under two banking licences.

Here’s a quick example of what this means

Let’s say you had £120,000 saved in an account with us. And in an account with The Co-operative Bank, you had £120,000. The FSCS would protect both amounts in both organisations.

Don't forget you can use this checker to find out exactly how much of your money across all your accounts is protected.

For a joint account, each person named on the account will get protection up to the £120,000 limit. This means, if two people share a joint account, the total protected could be up to two times the limit – one for each person.

But if you have a single account AND a joint account with us, the limit will apply across these accounts. This is because the limit applies to total deposits you have with us.