Hello Streat,

Yes, the Financial Services Compensation Scheme does cover up to £50k in savings held by UK customers with Abbey.

The only danger you'd have is that Abbey is owned by Santander, which now owns Bradford & Bingley too. So those are treated as one institution now, if you had £50k in Abbey and £50k in B&B, you would not be reimbursed £100k.

However, if you had £50k in Abbey and £50k with Barclays, all £100k would be protected.

Take a look at our editor's article 'Who owns who' for a clearer breakdown of, well, who owns who.