Financial Services Compensation Scheme
From ACT Wiki
(FSCS).
The UK scheme that guarantees certain bank and building society depositors' funds - subject to limits - should the bank or building society fail.
With effect from 2016, the guaranteed amount in the UK is limited to £75,000.
(It was previously £85,000.)
Similar deposit guarantee schemes operate in the majority of developed economies, under different names and with differing conditions and degrees of formality.
