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Financial Services Compensation Scheme (FSCS)

What is the FSCS?

We are members of the Financial Services Compensation Scheme ("‘FSCS") - the UK’s compensation fund for customers of authorised financial services organisations, which may pay compensation if a firm is unable, or likely to be unable, to pay claims against it. In the event we are unable to meet our liabilities, you may be eligible for compensation within the rules of the FSCS.

What are you covered for?

  • Investment - Funds and other non-cash holdings

  • The maximum level of compensation for claims against firms in default is £50,000 per person per fund manager.

    If you are a Close Brothers Self-Directed Service client you shall not share in the full protection offered by FSCS in respect of receiving bad or misleading advice. We do not offer advice through this service .

  • Deposit holders

  • In respect of Close Brothers Limited deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts, each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account.

    Please note, the deposit protection limit changed on 30 January 2017. Please click here for the FSCS leaflet containing further information or visit www.fscs.org.uk

More information

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please refer to the FSCS website www.fscs.org.uk or call the FSCS on 020 7741 4100 or 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.

FSCS
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