What is FSCS?

The FSCS is the UK scheme that compensates depositors if their bank fails. It is named as the protection behind every provider here: ActivTrades shows FSCS up to GBP 85,000, Airwallex shows FSCS up to GBP 85,000, Atom Bank shows FSCS up to GBP 85,000, Aviva shows FSCS up to GBP 85,000 and Bank of Scotland shows FSCS up to GBP 85,000. Read the limit against the balance you plan to hold, and check whether your savings sit with a single provider or are spread across several.