FSCS Protection UK: What's Actually Covered Up to £85k?

FSCS protects up to £85,000 of cash deposits per person, per banking licence - not per account, brand, or product

Several "different" UK banks share licences (HSBC + First Direct, Lloyds + Halifax + Bank of Scotland) - check the FSCS register

Investment platforms have separate £85,000 protection covering custody/admin failures, but underlying assets are usually held in your name and outside the platform anyway

Pensions and life policies have their own FSCS rules with no cap on insurance contracts and 100% protection for pension annuities