Is the Business Saver covered by the Financial Services Compensation Scheme (FSCS)?

The Moneybox Business Saver is currently closed to new customers.

All eligible deposits into the Business Saver are protected by the Financial Services Compensation Scheme (FSCS) for up to £120,000 per business per bank. For our Business Saver, Moneybox deposits your business’s money with FSCS-covered third-party banks.

Limited companies are considered a separate legal entity, which means that if both you and the limited company you are a director of use the same bank and are eligible, your personal money and the money held in the limited company’s business account will each have its own separate £120,000 limit.

If you are a sole trader, your FSCS protection limit of £120,000 is shared between your business and personal accounts if your business bank account is with the same bank as your personal bank account.

The total amount you or your business holds with any one of our third-party banks counts towards the overall £120,000 FSCS protection limit. This includes deposits held directly with the bank, through other providers, or other Moneybox products, including bare trusts.

You can find more information in the app by heading to Settings > Statements and documents > Key Features Document, or here on our website.