The Financial Services Compensation Scheme (FCSC) is a UK scheme that provides customers of authorised financial services firms with a safety net if a firm were to become insolvent or stop trading. As a last resort, you may be entitled to compensation from the scheme if a company was unable to pay your claim against them.
The FSCS is independent of the Government and the financial services industry and it does not charge customers for using its service.
Currently, the FSCS protects:
- Banks and building societies
- Credit unions
- Home finance (including mortgage advice)
Please visit the FSCS's website for further information.