Who are the Financial Services Compensation Scheme (FSCS)?

The FSCS protects individuals in the instance where financial firms fail. The FSCS was setup by the government and if you have used a financial firm that has gone out of business and can't pay a claim, the FSCS can step in to potentially provide compensation.

How does the FSCS protect consumers in the event of a financial firm's insolvency, and what are the coverage limits it provides for savings, investments, and other financial assets?

The FSCS will step in if one of the fund providers that mynestegg use goes into administration. You will be covered for up to £85,000 per fund provider in this instance. Your money is not impacted if mynestegg goes into administration because your money is not held by us.

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