Discover how the UK’s small and medium sized businesses (SMEs) and their activities in the cash deposit market have been affected by the COVID-19 pandemic*.
Key insights include:
Why SMEs are on course to miss out on £3.2 billion in interest
The rise in positive attitudes towards financial technologies
The exposure of SMEs cash reserves
*Data drawn from a survey of financial decision makers from more than 440 SMEs, carried out by Cebr.
All UK based banks and building societies on our platform are members of the Financial Service Compensation Scheme (FSCS).
In the event that one of the UK based banks and building societies on the platform were to go into administration then our client (if eligible) would have a single claim under the FSCS limited to the deposit compensation limit of £85,000 per depositor (£170,000 for joint accounts) per UK bank.
The FSCS protects certain qualifying temporary high balances up to £1 million for six months from when the amount was first deposited.
You do not need to do anything – the FSCS will compensate you automatically.
For more information please refer to the FSCS website.
