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Protection for your savings

Provided by the UK Financial Services Compensation Scheme

savings protection

You are covered up to £85,000

Your eligible deposits with Ikano Bank AB (publ) are protected up to a total of £85,000 (per person, not per account) by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. So for joint accounts, each customer has an £85,000 limit – that’s up to £170,000 protection in total.

Any deposits you hold above the limit are unlikely to be covered. For further information see our information about the FSCS or visit www.fscs.org.uk.

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 Financial Services Compensation Scheme (FSCS)

 

  • How will my money be reimbursed?

    Reimbursements will be made without any request being necessary. In the unlikely event Ikano Bank should fail, details of all savers and balances will be passed to the Financial Services Compensation Scheme in the UK to contact savers and make reimbursements.

    All reimbursements will be made in pounds sterling and within a maximum period of 10 working days from the time the failure of Ikano Bank is confirmed.

FSCS Financial Sevices Compensation Scheme

In plain English

We like to keep things simple. We try to use plain English and avoid using jargon, so our products and services are easy to understand. If you have any questions about our savings products, please visit our FAQ section.

Frequently asked questions

For savings queries call us on:

0333 155 4607

Opening hours
Monday to Friday, 9am until 5pm

Our UK savings contact centre

Calls to this number cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to this number are also included in any bundled minutes or free talk time that covers landline calls. Where calls are made outside of a bundle you will be charged at the national rate. Calls may be recorded for training purposes.

The actual cost you are charged will depend on your phone provider, please check with them if you're unsure.