Financial Services Compensation Scheme
Your eligible deposits with Progressive Building Society are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK’s deposit guarantee scheme.
Important information about the scheme
We are covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a building society is unable to meet its financial obligations. 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 a building society, including their share of any joint account, and not to each separate account.
You may download a copy of their explanatory leaflet by going direct to the FSCS website.
To find out more please call 0800 678 1100 or 020 7741 4100, e-mail the FSCS at enquiries@fscs.org.uk – fax them on 020 7892 7301 or write to them at:
Financial Services Compensation Scheme,
10th Floor, Beaufort House,
15 St. Botolp Street,
LONDON.
EC3A 7QU.