Safety explained
Is my money safe? FSCS protection at £120,000, explained
Deposit protection rose to £120,000 per person per banking licence in December 2025. Here is what that covers, why some brands share one limit, and how joint accounts and big one-off sums work.
Before Juno Hunt lists any account, I check who actually holds the money. That's because the safety net, the FSCS, works per banking licence, not per brand. Here's how it works.
The basics
- The Financial Services Compensation Scheme protects up to £120,000 per person, per authorised bank or building society. The limit rose from £85,000 on 1 December 2025.
- It applies to UK-authorised banks, building societies and credit unions. It pays out if the firm fails; it doesn't cover a fall in interest rates.
- A joint account counts half for each holder, so a couple's joint savings at one firm are protected up to £240,000 between them.
- Temporary high balances, such as money from a house sale, an inheritance or certain insurance payouts, are protected up to £1.4 million for up to six months.
Why brands can share one limit
Several high-street names are trading names of one authorised bank. Savings held with two brands under the same licence share a single £120,000 limit. That's why every account on Juno Hunt shows the firm that holds your money and its licence group, and why our FSCS planner adds up your balances per licence rather than per brand.
Example: £70,000 with one brand and £60,000 with a sister brand under the same licence is £130,000 at one firm. £120,000 is protected; £10,000 is over the limit.
NS&I is different
National Savings and Investments isn't a bank and isn't covered by the FSCS. Its products are backed by HM Treasury, with no limit. We show NS&I separately in the FSCS planner for that reason.
How to check
Every product page on Juno Hunt names the authorised firm, its Financial Services Register number and the schemes that cover it. You can check any firm on the FCA register and the FSCS's own protection checker.
About this article
Limits from the FSCS, as at 30 October 2026. Licence groups are taken from each bank's own disclosures and the FCA register.
This is general information, not advice: it doesn't take your circumstances into account. Rates and rules can change; the sources below are where to check.
Sources
Some banks pay us when you open an account through our link. That never changes the order of our tables or what this report says.