Are you intending to deposit more than £50,000?
If you are, you should read our 'Top 10 Savings Accounts Tips' at the bottom of this page.

Top 10 Savings Accounts Tips!

1. Do not invest more than £50,000 with each savings account provider

   Any bank trading in the UK has to be a member of the Financial Services Authority by law. All FSA members are covered by the Financial Services Compensation Scheme.
   
   This means that should the bank go out of business compensation will be paid to all its depositors up to 100% of the first £50,000 of a depositor's total deposits with the bank. Where two depositors hold a joint account, each depositor will receive a maximum of £50,000 compensation in respect of the claim, giving a total of £100,000.
   
   Therefore, if you have more than £50k and wish to be 100% covered, we suggest you open multiple savings accounts with different providers, and deposit no more than £50k with each. In fact if you want to protect your future interest as well as your capital, you should consider only investing a maximum of £47,500 so that £2,500 in possible accrued interest could be included in your £50k compensation claim.

2. Use our tables to distinguish which banks have separate Financial Services Compensation Scheme (FSCS) registrations and which fall under the same institution.

   Independent Banks
   The banks listed in the table below each hold an independent FSCS registrations, so if your cash is spead across multiple bank accounts shown in the table £50,000 will be compensated for each account held if the bank were to collapse.
   
   

   Alliance & Leicester	Firstsave	Nationwide (*)
   AK Bank	Furness BS	Natwest
   Allied Irish	Hanley BS	Newbury BS
   Anglo Irish	Harpenden BS	Northern Bank
   Bank of Cyprus	Hinkley and Rugby BS	Nottingham BS
   Barnsley BS (**)	Icesave	Principality BS
   Britannia BS	ICICI	Progressive BS
   Buckinghamshire BS	Investec	Raphael Bank
   Cambridge BS	Ipswich BS	Ruffler Bank
   Capital One	Julian Hodge Bank	Saffron BS
   Cater Allen	Kent Reliance BS	Sainsburys
   Chelsea BS	Leeds BS	Scarborough BS
   Chesham BS	Leek BS	Scottish BS
   Cheshire BS (*)	Liverpool Victoria	Scottish Widows
   Citibank	London Scottish Bank	Skipton BS
   Coutts	Loughborough BS	Standard Life
   Coventry BS	Marks & Spencer	Stroud & Swindon BS
   Credit Unions (all separate)	Manchester BS	Teachers BS
   Cumberland BS	Mansfield BS	Tesco
   Derbyshire BS (*)	Market Harborough BS	Tridos
   Dunbar Bank	Marsden BS	Ulster Bank
   Dunfermline BS	Melton Mowbray BS	United Trust
   Ecology BS	Monmouthshire BS	West Bromwich
   Egg	Norwich & Peterborough BS	Whiteaway Laidlaw
   First Trust	National Counties BS	Yorkshire BS (**)

   
   Note - In Dec 2008, Nationwide, Cheshire BS and Derbyshire BS -marked (*) plan to become one FSA registered institution.
   On 31 Dec 2008, Yorkshire BS and Barnsley BS -marked (**) plan to become one FSA registered institution.
   

   You may also notice that some of the banks shown above do fall under the same institution, however, they have seperate FSCS registrations so as far as protection is concerned the rules apply as if they were under different institutions.
   

   Grouped Banks
   The table below shows which banks/building societies fall under the same institution. The banks are also numbered 1-9 to aid colour blind readers. If you have multiple savings accounts that fall within the same colour/number, you will only be covered for up to £50,000 for all accounts. You can still hold multiple accounts with different colours, the key is to mix them, spreading your money across several savings accounts.

   BMW Savings - 1	Newcastle BS - 1	Cheltenham & Gloucester - 2
   Lloyds TSB - 2	Clydesdale Bank - 3	Yorkshire Bank - 3
   Direct Line - 4	Royal Bank of Scotland - 4	Virgin Money - 4