Financial Services Compensation Scheme
Cynergy Bank is a member of the Financial Services Compensation Scheme (FSCS).
Your eligible deposits with Cynergy Bank are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit guarantee scheme. The maximum compensation limit applies per depositor not per account, so for joint accounts each account holder would be entitled to compensation up to the maximum limit.
In response to Covid-19, the FSCS has extended its protection of temporary high balance from 6 months to 12 months. The conditions of this protection remain the same and can be found in the information sheet below.
The protection time length will return to 6 months from any funds deposited from 1 February 2021.
Information on eligibility and exclusions is available on our FSCS information sheet and exclusions list.
For further information about the compensation provided by the FSCS please refer to the FSCS website at www.fscs.org.uk.