As a sensible saver, it is important to be concerned about the safety of your savings, and be knowledgeable about what to do in the worst situations in order to maximise on them. One of the most important factors to keep in mind is that the Financial Services Compensation Scheme (FSCS) is meant to protect your UK regulated savings or current account, as well as money in building societies, credit unions and cash ISAs. You will therefore be compensated up to 85,000 pounds, but any amount above this is not protected.

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