FSCS Protection | Tandem Bank

What is the FSCS?

The Financial Services Compensation Scheme (FSCS) is a government-backed scheme that is in place to protect your money if the financial institution holding it fails and is unable to pay it back to you.
‍
The scheme applies to banks, building societies, credit unions and other financial institutions, that are authorised by the Financial Conduct Authority (FCA) or the Prudential Regulation Authority (PRA).

It protects the first £85,000 you have saved, per authorised firm. The limit applies to individuals and companies, not accounts. This means that for joint accounts the limit applies to each named account holder.

Download FSCS Booklet Visit FSCS

Key things to remember

Check for FSCS

Always check if your financial provider is FSCS protected before opening an account or depositing money. You can use the FSCS checker.

Spread your savings

If you have over £85,000, consider spreading it across multiple FSCS-protected institutions to keep your money safe.

Before moving money

Some banks share the same license, so the £85,000 limit may apply to both. Check this before moving money to a new account.

Is Tandem covered by the FSCS?

Yes! In the unlikely event of Tandem facing difficulties, the FSCS will compensate you (up to £85,000) if we are unable to pay back your money.

You can find out more about how the Deposit Guarantee Scheme works and how much of your savings are protected in the FSCS information sheet available in the Tandem app or online here.

You can double check Tandem is protected using the FSCS bank and savings protection checker.

You're in safe hands

What is the FSCS?

Key things to remember

Is Tandem covered by the FSCS?

Can’t find what you’re after?

You're in safe hands

What is the FSCS?

Key things to remember

Is Tandem covered by the FSCS?

Get the app

Can’t find what you’re after?