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Are School, Academy and Charity Deposits covered by the
Financial Services Compensation Scheme (FSCS)?

Whilst the FSCS was set up originally to protest the savings of personal customers, it does actually protect many more organisations as well.

Whilst the rules can change, it is important to note that your deposit provider must to be authorised by the Prudential Regulation Authority. You can find a list of banks and building societies on the FCA web site here: https://register.fca.org.uk/s/

The FSCS will cover eligible deposit up to certain limits. You can find out more directly from the FSCS:  https://www.fscs.org.uk/what-we-cover/banks-building-societies/

There is an excellent Q and A section on the FSCS site that explores coverage for 'non personal' customers of banks here:

https://www.fscs.org.uk/industry-resources/deposit-protection-banks/ 

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