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The Financial Services Compensation Scheme (FSCS)

The Financial Services Compensation Scheme (FSCS) provides compensation and protection to customers of authorised financial services firms that have failed.

FSCS protects you when financial firms fail

If the firm you've used has gone out of business and can't pay your claim, FSCS can step in to pay compensation.

They're independent and their services are free to use. You’ll keep all the compensation you’re owed when you claim directly through them.

How FSCS work

If you think you have a claim against a financial firm that’s failed, you could claim compensation through FSCS Direct. It’s completely free and they’ll tell you straight away if you’re eligible when you claim online.

There are some eligibility criteria you must meet to be able to claim with us.

How the claims process works

FSCS accept online claims for insurance, mortgages, pensions, payment protection insurance, investments and debt management.

If your bank, building society or credit union has failed you don’t need to make a claim. FSCS will return your money automatically, up to their compensation limit.

If it’s your insurance company that has failed, FSCS will try to get seamless cover with another insurer. If that’s not possible FSCS will look to arrange the return of the remaining premium.

For all other claims, you’ll need to use FSCS online claims service.

What happens next?

Set up by parliament and funded by the financial services industry, FSCS is a completely independent and free service.

You’ll keep all the compensation you are owed when you claim directly through FSCS.

Learn more