Financial Services Compensation Scheme (FSCS)
Who owns M&S Bank?
M&S Bank is a division of HSBC UK Bank plc. M&S Bank is part of the HSBC Group. M&S Bank launched in 2012 on the foundations of M&S Money, which was established in 1985 as the financial services division of Marks and Spencer plc. Today, M&S Bank operates as a joint venture arrangement between HSBC and Marks & Spencer.
Am I protected by the Financial Services Compensation Scheme?
Your eligible deposits with HSBC UK Bank plc are protected up to a total of £120,000, or up to £240,000 for joint accounts, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.
This limit is applied to the total of any deposits you have with the following: HSBC UK, HSBC Private Bank, first direct, M&S Bank and M&S Savings and Investments. Any total deposits you hold above the limit between these brands are unlikely to be covered.
The FSCS also cover a wide range of other financial products and services such as investments, pensions, financial advice, insurance broking, mortgage advice and arranging. Different compensation limits and eligibility requirements will apply.
For further information about the scheme (including the current limits, amounts covered and eligibility to claim) please refer to the FSCS website www.FSCS.org.uk, call the FSCS on 0207 741 4100 or 0800 678 1100, or read the below documents.
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