Are there compensation arrangements covering my accounts?

Yes, the Financial Services Compensation Scheme. It was set up to provide compensation within certain limits if you suffer a loss after a company has gone bust, or if it can’t meet its liabilities.

For bank deposits, the maximum is £85,000 and for investments in general the maximum is £50,000 per person, per firm.

You’ll find further information about the compensation arrangements from the Financial Services Compensation Scheme at www.fscs.org.uk.