Financial Services Compensation Scheme
From ACT Wiki
(FSCS).
The UK scheme that guarantees certain bank, building society or credit union depositors' funds - subject to limits - should the bank, building society or credit union fail.
The guaranteed amount in the UK is limited and may vary from one year to the next. For failures from 2017 to 2021, the guaranteed amount in the UK was limited to £85,000.
Similar deposit guarantee schemes operate in the majority of developed economies, under different names and with differing conditions and degrees of formality.
See also
- BIP
- Credit union
- Deposit Guarantee Scheme
- Deposit insurance
- DGSD
- International Association of Deposit Insurers
- Retail
- Stability
