You are covered up to £85,000
As a Swedish Bank, we’re a member of the Swedish Deposit Insurance Scheme, managed by Riksgälden.
All Ikano Bank savings customers are protected to the limit of £85,000 (per person, not per account). So for joint accounts, each customer has a £85,000 limit - that's up to £170,000 protection in total. The amount repaid would be divided equally between account holders. Deposits over £85,000 are unlikely to be covered.
In the event of a bank failing, any communication about compensation under this scheme would be in English and would come from the Financial Services Compensation Scheme (FSCS) based in the UK, also any money paid back to you would be in pounds sterling.
Basic information about the Swedish Deposit Insurance Scheme