Financial Services Compensation Scheme (FSCS) – Keeping Your Money Safe

We know how important it is to feel confident about where you keep your money. That’s why your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) so your money is intact even if your bank has problems. With FSCS, your money is automatically protected up to £85,000 per person, so you can bank with peace of mind

What is FSCS?

The Financial Services Compensation Scheme (FSCS) is a free, independent scheme set up under the Financial Services and Markets Act 2000 (FSMA) that protects customers of UK-authorised banks, building societies, and credit unions. 

If a financial institution runs into problems and cannot return your money, FSCS steps in to compensate you. 
It was set up to ensure customers don’t lose their money if their financial institution fails.

How Much is Protected?

• Up to £85,000 per person
• Up to £170,000 for joint accounts, provided neither party has any other accounts with us

This limit applies per financial institution, not per account. If you have multiple accounts with Afin Bank, FSCS protection applies to your total deposits across all accounts, up to the limit.

Keeping You Informed

Understanding how your money is protected is important. FSCS safeguards eligible deposits, and we make it easy for you to access information about the scheme whenever you need it.
You’ll find the FSCS Information Sheet on our website and within our app. We will also share updates if there are any changes to the scheme.
You can view or download the FSCS Information Sheet.

Reimbursement

This is typically processed within 7 days unless there are exceptional circumstances. If you’ve not been repaid within this period, you should contact the FSCS, as the time to claim reimbursement may be barred after a certain time limit.

To know more, visit the FSCS website:
Financial Services Compensation Scheme | FSCS

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