Financial Services Compensation

Scheme Information Sheet

Basic information about the protection of your eligible deposits
Eligible deposits in HSBC UK Bank plc The Financial Services Compensation Scheme (“FSCS”)1
(UK mainland only) are protected by:
Limit of protection:  85,000 per depositor per bank/building society/credit union2
£
The following trading names are part of your bank/building
society/credit union:

1) fd, 2) fd bank, 3) first direct, 4) first direct bank, 5) HSBC, 6)

HSBC UK, 7) HSBC UK Bank and 8) HSBC Private Banking
If you have more eligible deposits at the same All your eligible deposits at the same bank/building society/
bank/building society/credit union: credit union are “aggregated” and the total is subject to the
2
limit of £85,000
If you have a joint account with other person(s): The limit of £85,000 applies to each depositor separately3
Reimbursement period in case of bank, building society 10 working days4
or credit union’s failure:
Currency of reimbursement: Pound sterling (GBP, £)
To contact HSBC UK Bank plc for enquiries relating HSBC UK Bank plc 03457 404 404
to your account: (Textphone 03457 125 563)
(HSBC Premier 03457 70 70 70, Business 03457 606 060)
or Chat to us 24/7 via Online Banking or the HSBC UK Mobile
Banking App
To contact the FSCS for further information Financial Services Compensation Scheme
on compensation: 10th Floor Beaufort House
15 St Botolph Street
London
EC3A 7QU

Tel: 0800 678 1100 or 020 7741 4100

Email: [email protected]

More information: www.fscs.org.uk

Acknowledgement of receipt by the depositor:

Additional information (all or some of the following)

1 Scheme responsible for the protection of your If, for instance a depositor holds a savings account with
eligible deposit £80,000 and a current account with £20,000, he or she will
Your eligible deposit is covered by a statutory Deposit Guarantee only be repaid £85,000.
Scheme. If insolvency of your bank, building society or credit
union should occur, your eligible deposits would be repaid up to This method will also be applied if a bank, building society or
£85,000 by the Deposit Guarantee Scheme. credit union operates under different trading names. HSBC
UK Bank plc trades as fd, fd bank, first direct, first direct bank,
2 General limit of protection HSBC, HSBC UK, HSBC UK Bank and HSBC Private Banking..
If a covered deposit is unavailable because a bank, building This means that all eligible deposits with one or more of these
society or credit union is unable to meet its financial trading names are in total covered up to £85,000.
obligations, depositors are repaid by a Deposit Guarantee
In some cases eligible deposits which are categorised as
Scheme. This repayment covers a maximum of £85,000 per
‘temporary high balances’ are protected above £85,000
bank, building society or credit union. This means that all
for six months after the amount has been credited or from
eligible deposits at the same bank, building society or credit the moment when such eligible deposits become legally
union are added up in order to determine the coverage level. transferable. These are eligible deposits connected with certain
events including:

(a) certain transactions relating to the depositor’s current or

prospective only or main residence or dwelling;

HSB_RFB1085_CMT0388.indd 1 24/05/2023 10:28

 (b) a death, or the depositor’s marriage or civil partnership,
divorce, retirement, dismissal, redundancy or invalidity; Financial Services Compensation Scheme Exclusions List
A deposit is excluded from protection if:
(c) the payment to the depositor of insurance benefits or (1) The holder and any beneficial owner of the deposit have
compensation for criminal injuries or wrongful conviction. never been identified in accordance with money laundering
requirements. For further information, contact your bank,
More information can be obtained under www.fscs.org.uk. bank building society or credit union.

3 Limit of protection for joint accounts (2) The deposit arises out of transactions in connection with which
In case of joint accounts, the limit of £85,000 applies to each there has been a criminal conviction for money laundering.
depositor. (3) It is a deposit made by a depositor which is one of the
following:
However, eligible deposits in an account to which two
or more persons are entitled as members of a business • credit institution
partnership, association or grouping of a similar nature, • financial institution
without legal personality, are aggregated and treated as if • investment firm
made by a single depositor for the purpose of calculating • insurance undertaking
the limit of £85,000. • reinsurance undertaking
• collective investment undertaking
4 Reimbursement • pension or retirement fund1
The responsible Deposit Guarantee Scheme is the Financial • public authority, other than a small local authority
Services Compensation Scheme, 10th Floor Beaufort House,
15 St Botolph Street, London, EC3A 7QU, (4) It is a deposit of a credit union to which the credit union itself
Tel: 0800 678 1100 or 020 7741 4100, is entitled
Email [email protected] It will repay your eligible deposits (5) It is a deposit which can only be proven by a financial
(up to £85,000) within 10 working days until instrument2 unless it is a savings product which is evidenced by
31 December 2023; and within seven working days from a certificate of deposit made out to a named person and which
1 January 2024 onwards, save where specific exceptions existed in the UK, Gibraltar or a Member State of the EU on
apply. 2 July 2014)

(6) It is a deposit of a collective investment scheme which qualifies

Where the FSCS cannot make the repayable amount available
as a small company3
within seven working days, it will, until 31 December 2023,
ensure that you have access to an appropriate amount of (7) It is a deposit of an overseas financial services institution which
your covered deposits to cover the cost of living (in the case qualifies as a small company4
of a depositor which is an individual) or to cover necessary (8) It is a deposit of certain regulated firms (investment firms,
business expenses or operating costs (in the case of a insurance undertakings and reinsurance undertakings) which
depositor which is not an individual or a large company) qualify as a small business or a small company5 – refer to the
within five working days of a request. FSCS for further information on this category

If you have not been repaid within these deadlines, you (9) It is not held by an establishment of a bank, building society
or credit union in the UK or, in the case of a bank or building
should contact the Deposit Guarantee Scheme since the
society incorporated in the UK, it is not held by an establishment
time to claim reimbursement may be barred after a certain
in Gibraltar.
time limit. Further information can be obtained under
www.fscs.org.uk. For further information about exclusions, refer to the FSCS website
at www.fscs.org.uk
Other important information 1
Deposits by personal pension schemes, stakeholder pension schemes
In general, all retail depositors and businesses are covered and occupational pension schemes of micro, small and medium sized
by Deposit Guarantee Schemes. Exceptions for certain enterprises are not excluded

deposits are stated on the website of the responsible 2

As listed in Part I of Schedule 2 to the Financial Services and Markets Act
Deposit Guarantee Scheme. Your bank, building society 2000 (Regulated Activities) Order 2001, read with Part 2 of that Schedule

or credit union will also inform you of any exclusions from 3

Under the Companies Act 1985 or Companies Act 2006
protection which may apply. If deposits are eligible, the bank, 4
See footnote 3
building society or credit union shall also confirm this on the 5
See footnote 3
statement of account.

hsbc.co.uk
HSBC UK Bank plc. Registered in England and Wales with number 09928412. Registered Office: 1 Centenary Square,
Birmingham B1 1HQ, United Kingdom. Authorised by the Prudential Regulation Authority and regulated by the
Financial Conduct Authority and the Prudential Regulation Authority. Our Financial Services Register number is 765112.

Customer information: Customer Service Centre, BX8 1HB

RFB1085 CMT0388 ©HSBC Group 2023.. All Rights Reserved.

HSB_RFB1085_CMT0388.indd 2 24/05/2023 10:28