The FSCS protects deposits up to the amount of £85,000 per person, per financial institution. Those with joint accounts would be protected up to £170,000 with each financial institution. It is important to remember that your funds are only protected up to the £85,000 limit through each financial institution with banking ‘authorisation’ and does not necessarily apply to different accounts or even different banks. Banks that are part of the same group e.g. Bank of Scotland and Halifax, often share a single licence, meaning FSCS protection is only covered up to £85,000 across all the banks collectively.