If your money is eligible for protection today under the UK Financial Services Compensation Scheme (FSCS) Deposit Protection Scheme, ring-fencing won’t change that.
The FSCS, the independent deposit protection scheme for the UK, is in place to pay compensation to depositors if a bank is unable to meet its financial obligations.
The FSCS protection limit is £85,000 per depositor per bank. For joint accounts, the limit of £85,000 applies to each depositor separately. Barclays Bank PLC and Barclays’ ring-fenced bank will be separate banks for the purposes of FSCS protection. You can find further information at barclays.co.uk/fscslimit.
Deposits made with Barclays Bank PLC, Isle of Man Branch are covered by the Isle of Man's Depositors' Compensation Scheme (DCS) detailed in the Depositors’ Compensation Regulations 2010.
Barclays Bank PLC is a participant in the Jersey Banking Depositor Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website at www.gov.je/Industry/Finance/DepositProtection or on request.
Barclays Bank PLC, Guernsey Branch is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for 'qualifying deposits' up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details are available on the Scheme’s website www.dcs.gg or on request.