Tide Logo

What is the FSCS?

The Financial Services Compensation Scheme (FSCS) was introduced under the Financial Services and Markets Act 2000, and aims to protect customers of financial firms when the firms can’t fulfil their obligations, or when they go out of business, because of illiquidity or insolvency.

If your bank, building society or credit institution fails to repay your savings, the FSCS will step in to compensate you as long as you’re eligible. You can learn more about this on the scheme’s website

All current and savings accounts we offer are protected by the FSCS, for up to £85,000.

Did you find this information useful?

Related articles

Need to get in touch?

Searching our help articles is usually the quickest and easiest way to get answers. If you still can't find what you’re looking for, contact us in-app or via hello@tide.co