Is my Cash Lifetime ISA protected by the Financial Services Compensation Scheme?
The FSCS is a government fund that exists to help consumers in the event of a bank collapse. You are protected for 100% of the first £85,000 per financial institution.
The Cash LISA is powered by our partner OakNorth. OakNorth is covered by the Financial Services Compensation Scheme (FSCS) so £85,000 of your savings are protected. If you have other savings with OakNorth these will also count toward the £85,000 limit with OakNorth.
Please note, the FSCS does also cover investment products but it covers you in the event of the product provider collapsing, not if your investments lose money.