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Home > Prudential Regulation Authority > Banking information

Banking information

​FSCS  |  Updates   Banking |  Insurance

This page includes information on:


Amount of compensation

On 21 November 2016, the Prudential Regulation Authority (PRA) opened a consultation to reset the deposit protection limit at £85,000 as a result of requirements in the European Deposit Guarantee Schemes Directive (DGSD). The PRA proposes that depositors will be protected up to £85,000 as of 30 January 2017. Until the proposals are finalised in a PRA policy statement, the deposit protection level remains at £75,000.

Eligible deposits held in banks, building societies and credit unions (including in Northern Ireland) authorised by the PRA are protected up to the deposit protection limit. These include, for example, their eligible deposits in current accounts, savings accounts, cash ISAs (held with a deposit-taker) or savings bonds.

The deposit protection limit applies to the total eligible deposits of each person, per PRA-authorised firm. For eligible deposits in a joint account, this means that each account holder is protected up to the deposit protection limit, so two people would be covered up to a total of 2 x the deposit protection limit, per PRA-authorised firm. 
A PRA-authorised firm may own several banking and building society brands. This means that anyone with eligible deposits in more than one account under a single brand, or multiple accounts under different brands owned by a single PRA-authorised firm, is protected up to a total of the deposit protection limit with that PRA-authorised firm.

Depositors with aggregate eligible deposits in excess of the deposit protection limit, may wish to take steps to keep deposits fully protected (eg by splitting their deposits among different PRA-authorised firms – see lists below).

FSCS coverage relating to international banks operating in the UK (England, Scotland, Wales & Northern Ireland, but not including the Channel Islands or Isle of Man)

Depositors in some overseas firms are protected by the FSCS up to the deposit protection limit. These include:
  • UK incorporated subsidiaries of European Economic Area (EEA) deposit-takers;
  • UK incorporated subsidiaries of non-EEA deposit-takers; and
  • UK branches of non-EEA deposit-takers authorised by the PRA to accept deposits in the UK.

Eligible depositors in UK branches of EEA banks are protected by the home-state deposit guarantee scheme, usually up to a limit of €100,000. They are not covered by the FSCS. For more information on the extent and nature of non-UK deposit guarantee schemes please refer directly to those schemes. If you are not sure how your money is protected you can contact your bank for information. 

Lists of banking brands and building societies brands

Lists of the principal banking brands and building society brands that are covered by the FSCS are available below. These show:
  • the main banking and building society brands;
  • which PRA-authorised firm owns that brand;
  • the unique 'firm reference number' (FRN) of that PRA-authorised firm; and
  • other brands owned by the same PRA-authorised firm.

List of banking brands - September 2017

List of banking brands - September 2017

List of building society brands - September 2017
List of building society brands - September 2017

Historical versions of these documents are also available on our Banking information - historical lists page.

For an up to date list of all PRA-authorised firms please refer to the Financial Services Register.

For further information or any questions on the FSCS, please see the FSCS website.