Important information about compensation arrangements
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if Union Investment Bank is unable to meet its financial obligations. Most depositors – including most individuals and small businesses – are covered by the scheme.
Your eligible deposits with Union Investment Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. Any deposits you hold above the £85,000 limit are not covered.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with Union Investment Bank including their share of any joint account, and not to each separate account.
Please refer to the attached FSCS Information Sheet and Exclusions for information about the FSCS and eligibility criteria.