We are conscious of our position of trust and the responsibilities we have with your money. With this in mind, we regularly review our banking relationships and the distribution of deposits, and we only use highly-rated institutions as assessed by respected credit rating agencies.
Cash deposits for all customer accounts are spread across HBOS, Clydesdale Bank (part of National Australia group) and HSBC and the mix of the deposits varies on a daily basis between these three banks.
All customer cash deposits are held in seperate accounts from The Share Centre's accounts.
All cash deposits are covered by the Financial Services Compensation Scheme (FSCS). The FSCS allows for a maximum of £50,000 across all cash the customer holds with each bank to be claimed in the event that any of these banks fails. While our customers’ money is held in a pooled account, the FSCS limits apply to each individual customer.
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