If your bank or building society fails and can’t pay back your money, LPFC can automatically pay you compensation. Your bank or building society must be authorised by the Prudential Regulation Authority - check this on the Financial Services Register.

If you hold money with a UK-authorised bank, building society or credit union that fails, we’ll automatically compensate you.

• up to £85,000 per eligible person, per bank, building society or credit union.
• up to £170,000 for joint accounts.

We protect certain qualifying temporary high balances up to £1 million for 6 months from when the amount was first deposited.

You don’t need to do anything – LPFC will compensate you automatically.

You can easily see how much of your money is protected by using our bank & savings protection checker.