Protecting your money

Up to a total of £120,000 or up to £240,000 for joint accounts, by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme.

This limit is applied to the total of any deposits you have with the following: HSBC UK, HSBC Private Bank, first direct, and M&S Bank.

Any total deposits you hold above the FSCS compensation limit between these brands are unlikely to be covered, unless under specific circumstances, as determined by the FSCS. 

Please note: on the 1 December 2025, the FSCS deposit protection limit rose to £120,000 and we are in the process of updating our literature to reflect the changes, in the interim you may still see the old £85,000 limit in certain places.

For more information on the scheme, please select the links below to view the FSCS poster and leaflet as well as the Information Sheet and Exclusions List (IS&EL) or the FSCS website at www.fscs.org.uk Opens an overlay [Will show a security message first], this link may allow you to access a non-HSBC website. first direct has no control over the linked website and is not liable for your use of it.

FSCS Poster (PDF)

FSCS Leaflet (PDF)