Here’s how to work out what protection you have if something goes wrong…

Is your account UK-regulated?

If you have your savings with a UK bank or building society it will be registered with the City regulator, the Financial Conduct Authority (FCA).

This means you will have protection from the Financial Services Compensation Scheme (FSCS) in the unlikely event that it goes bust.

This scheme pays out up to £85,000 per person, or £170,000 for joint accounts, per financial institution, if your bank or building society fails.

This protection limit was increased at the start of 2011 to bring it in line with the rest of Europe, where savers receive €100,000 of protection.

Foreign-owned banks

If your bank is foreign-owned, but offers products to British savers, the chances are it will also be registered with the FCA.

Check your bank’s website to confirm this, and if you’re still not sure, give them a call or check on the FCA's website.

Some providers that operate here in the UK aren't registered with the FCA. Instead, you'll be protected by the compensation scheme that operates in their country of origin.

For example, if you have a savings account with Triodos Bank, you're protected by the Dutch compensation scheme up to €100,000.

Who owns whom?

Protection offered by the FSCS is per institution NOT per account.

This can make it difficult to work out whether your savings are safe, because some institutions operate a number of different brands.

You only get protection from each individual brand if they are each registered separately with the FCA.

If there is a only a single registration for the entire group, you will only have £85,000 protection across all that institution's brands.

For example, Lloyds Banking Group, which was formed by the merger of Lloyds TSB and HBOS has two banking licences.

To make matters more complicated, there are a number of brands that operate under the HBOS licence: Halifax, Bank of Scotland, BM Savings, Intelligent Finance, The AA and Saga.

This means that if you have a savings account with Halifax, and another with BM Savings, only £85,000 is protected.

But if you had a Halifax account and an account with Lloyds Bank, you could protect £170,000 of your cash savings because they are registered separately with the FCA.

You only get protection from each individual brand if they are each registered separately with the FCA.
If you want to be certain your savings are safe, you should never save more than £85,000 with any one institution.

The only place where your savings are protected above the £85,000 limit is National Savings & Investments (NS&I), because it is backed by the Government.

The table below which shows you what protection you have with the main savings providers that operate in the UK.

The information in this article was last updated on January 9, 2015.

Provider Parent company & country of origin Maximum level of protection
(formerly Abbey)
Alliance & Leicester
Bradford & Bingley
Banco Santander, Spain £85,000 (in total)
Anglo Irish Bank Anglo Irish Bank plc, Ireland €100,000 (about £85,000) will be guaranteed under the Irish Deposit Guarantee Scheme. Remaining amount covered by the Irish Government's Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009
Bank of Baroda Bank of Baroda, India £85,000
 Bank of Cyprus UK Bank of Cyprus, Cyprus Cypriot Deposit Protection Scheme covers up to €100,000 (about £85,000)
Bank of Scotland
The AA
Birmingham Midshires/BM Savings
Intelligent Finance
Lloyds Banking Group, UK £85,000 (in total)
Bank of Ireland
Bristol & West
Bank of Ireland, Ireland €100,000 (about £85,000) will be guaranteed under the Irish Deposit Guarantee Scheme. Remaining amount covered by the Irish Government's Credit Institutions (Eligible Liabilities Guarantee) Scheme 2009
Woolwich ING Direct2
Barclays Bank plc, UK £85,000 (in total)
Cater Allen Private Bank Banco Santander, Spain £85,000
Citibank Citigroup Inc. USA  

Close Brothers Close Brothers Group plc, UK £85,000
Clydesdale Bank
Yorkshire Bank
National Bank Group, Australia £85,000 (in total)
Coventry Building Society
Stroud & Swindon Building Society3
Coventry Building Society, UK £85,000 (in total) 
FirstSave Bank of Nigeria  Bank of Nigeria, Nigeria £85,000
First Direct 
HSBC Bank plc, UK £85,000 (in total)
ICICI Bank ICICI Bank Limited, India £85,000  

Investec Private Bank Investec Bank plc, UK £85,000
Julian Hodge Bank Julian Hodge Bank £85,000
Kent Reliance Building Society OneSavings Bank plc, UK £85,000
Laiki Bank Marfin Popular Bank (Cyprus) Central Bank of Cyprus Deposit Protection Scheme covers up to €100,000 (about £85,000)
 Leeds Building Society  Leeds Building Society, UK £85,000 
Lloyds Bank Lloyds Banking Group, UK £85,000
Manchester Building Society Manchester Building Society, UK £85,000
Mansfield Building Society Mansfield Building Society, UK £85,000
Market Harborough Building Society Market Harborough Building Society, UK  £85,000
 Marks & Spencer Money Marks & Spencer Financial Services plc & HSBC, UK £85,000
National Savings & Investments Bank of England/HM Treasury All deposits backed by UK Government. 100% protected
NatWest Royal Bank of Scotland plc, UK £85,000  

Cheshire Building Society
Derbshire Buidling Society
Dunfermline Buidling Society4
Nationwide Building Society, UK  £85,000 (in total) 3
Newcastle Building Society  Newcastle Building Society, UK £85,000
Building Society
Building Society, UK
Post Office  Bank of Ireland (UK) plc, EIRE £85,000
Principality Building Society Principality Building Society, UK £85,000
Progressive Building Society Progressive Building Society, UK £85,000
Punjab National Bank Punjab National Bank, India (PNB) £85,000
Rothschild Reserve N M Rothschild & Sons Limited, UK £85,000
Royal Bank of Scotland
Direct Line
Royal Bank of Scotland plc, UK £85,000 (in total)
Saffron Building Society Saffron Building Society, UK £85,000
Sainsbury's Bank Sainsbury's Bank plc & Lloyds Banking Group plc, UK £85,000
Scottish Widows Lloyds Banking Group plc, UK £85,000
Secure Trust Bank Arbuthnot Banking Group plc, UK £85,000
Shepshed Building Society Shepshed Building Society, UK £85,000
Skipton Building Society
Scarborough Building Society
Capital One Bank
Chesham Building Society
Skipton Building Society, UK  £85,000 (in total) 
Standard Life Bank Barclays Bank plc, UK £85,000
State Bank of India State Bank of India, India £85,000
The Co-operative Bank
Britannia Building Society6
The Co-operative Bank plc, UK £85,000 (in total) 3
Teachers Building Society Teachers Building Society, UK  £85,000
Tesco Personal Finance Tesco plc, UK £85,000
TSB Lloyds Banking Group £85,000
Turkish Bank (UK) Ltd. Turkish Bank Limited, Turkey £85,000
United Trust Bank United Trust Bank, UK £85,000
Virgin Money
Nortnern Rock
Virgin Money £85,000
West Bromwich Building Society West Bromwich Building Society, UK £85,000
Yorkshire Building Society Egg Norwich & Peterborough  
Chelsea Building Society
Barnsley Building Society8
Yorkshire Building Society , UK £85,000 (in total)  

1 Akbank N. V. is a wholly owned subsidiary of Akbank T.A.S, Turkey.
2 Barclays bought ING Direct’s savings business in 2013
3Coventry Building Society and Stroud and Swindon Building Society completed a merger on September 1, 2010.
4 Cheshire Building Society, Derbyshire Building Society and Dunfermline Building Society are trading divisions of Nationwide Building Society.
5 Skipton and Scarborough building societies merged on March 30, 2009. Skipton Building Society bought the savings book of Capital One Bank in June 2009.
6 Britannia Building Society is a trading name used by The Co-operative Bank plc.
7 Northern Rock was purchased by Virgin Money and all accounts rebranded as Virgin Money.

8 Barnsley Building Society is a trading name of Yorkshire Building Society. Chelsea Building Society and Yorkshire Building Society merged on April 1, 2010. Yorkshire Building Society bought Egg from Citigroup in July 2011 and merged with Norwich & Peterborough Building Society in November that year.

The above list is not inclusive. For further information visit the FSA website.