How safe is my money? What is 'FSCS' protection?

As a licensed UK bank, your eligible deposits (meaning any money held in a Zopa bank account or savings account) are protected up to a total of £120,000 by the Financial Services Compensation Scheme (FSCS) – the UK's deposit guarantee scheme. Any money you hold above this limit is unlikely to be covered.

The FSCS exists to protect customers of finance providers that have failed. In the unlikely event that Zopa fails, the FSCS will compensate you if we're unable to pay your money back.

You can save more than £120,000 with us, but any money over that amount wouldn't be protected.

To find out more, visit the FSCS website.