Your eligible deposits with Milestone Savings are currently protected up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS), the UK's deposit protection scheme.
The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors - including most individuals and small businesses - are covered by the scheme.
In respect of deposits, an eligible depositor is currently entitled to claim up to £85,000. For joint accounts each account holder can currently claim up to £85,000: so, for a joint account held by two eligible depositors, the current maximum amount that could be claimed would be a total of £170,000. The current £85,000 limit relates to the combined amount in all the eligible depositor's accounts with the bank, including their share of any joint account, and not to each separate account. Any deposits you hold above the current £85,000 limit are not covered.
For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please call us on 0345 600 3350, refer to the FSCS website or call the FSCS on 0800 678 1100.
Please note only compensation related queries should be directed to the FSCS.