What are my rights under the FSCS?
The FSCS has been in effect for several years, and already covers a number of financial services including money deposited in authorised high street banks.
Once debt management becomes part of the FSCS on 1 April, any money that we hold on your behalf will be protected if we’re unable to meet our financial obligations. Compensation would apply to deposits of £85,000 and under.
You can find out more information on the FSCS and how it affects you by visiting their website.