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.