Is the Business Saver covered by the Financial Services Compensation Scheme (FSCS)?

Your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per business per bank. For our Business Saver, Moneybox deposits your business’s money with FSCS covered third party banks.

If you have a limited company, it is a separate legal entity. That means that if you and your limited company both use the same bank and you are both eligible, your personal account and the limited company business account will each have their own separate £85,000 limit.

If you are a sole trader, you are eligible and your business bank account is with the same bank as your personal bank account, your FSCS protection (and the maximum £85,000 limit to that protection) is shared between your business and personal accounts.

Where you or your business has other deposits held at those third party banks used by Moneybox for the Business Saver, whether or not they are other Moneybox products and whether held directly with the bank or through other bare trusts, the amount of your Business Saver deposit at the bank in question on the relevant date will be added to those deposits for the purposes of calculating the £85,000 aggregate limit for FSCS claims.

More information can be found here on our website.