Eligible deposits with BACB are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors (individuals and companies) are covered by the scheme.
In respect of deposits, the FSCS protects up to £120,000 per person or company. The limit applies to individuals and companies, not accounts. This means that the limit relates to the combined amount in all of the eligible depositor's accounts with the bank and not to each separate account.
If you need further information about the scheme, please contact us. Alternatively, you’ll find more information on the FSCS website.
