Our Guarantee Scheme
It's important to know how your money's protected.
It's important to know how your money's protected.

Eligible deposits with RCI Bank UK Limited are protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. Any deposits you hold above the limit are unlikely to be covered.

All the accounts we offer are covered by the FSCS, protecting the first £85,000 per customer. The protection covers each customer. not each account. For joint accounts, each customer is protected up to £85,000, so up to £170,000 between them.

The Financial Services Compensation Scheme (FSCS) is there to protect your money. It is the scheme which gives you automatic protection up to £85,000 if your bank, building society or credit union fails; and you’ll normally get your money back within seven days. The FSCS is funded by the financial services industry, and is free to consumers. So whatever your money is for, it’s good to know it’s protected. More information along with the exclusions list can be found within our FSCS Information Sheet PDF.
Customers do not need to take any action. If a bank cannot return customer deposits, the FSCS automatically initiates compensation of up to £85,000 per person. Compensation is usually paid within 7 working days but may take up to 20 working days. You can find more information about the FSCS compensation procedure by selecting the More Information tab.
The FSCS provides a £1,000,000 protection limit per individual for certain types of temporary high balances held with a bank for a period of up to six months in the event the bank holding the deposits fails. Proceeds from certain life events such as the sale of a house, redundancy payment, inheritance and certain court judgements fall within the scope of this protection limit. For more information and a full list of what life events fall into the scope of temporary high balances please select the More Information tab.


For further information about the compensation provided by the FSCS, refer to the FSCS website at www.FSCS.org.uk/.