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.
With effect from 2017, the guaranteed amount in the UK is 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.
