Fscs

gorgeousme

Trading 212 offers fairly good savings rates whilst banking deposits with a high street bank. The banks are all covered by by the fscs £85k limit but Trading 212 is not.

As my contract is with Trading 212, if it goes into administration, will I have any protection?

eskbanker

It's the protection of where your money actually is that counts, so all is good:

https://www.trading212.com/en/money-protection

TheBanker

Just remember the protection is per bank. So if you have £60k in your own savings account with Barclays, and Trading212 deposit £40k of your ISA money with Barclays, you are only covered for £85k in total, not the full £100k.