Banks, building societies & credit unions
If the firm failed after 1 Jan 2017 and you hold money with a UK-authorised bank, building society or credit union that fails, the FSCS will automatically compensate you. But be aware that this is per banking licence and some financial institutions share one licence. The limit is £85,000 per eligible person, per bank, building society or credit union. So £170,000 for joint accounts.
They also protect certain qualifying temporary high balances up to £1 million for up to six months from when the amount was first deposited as a result of say an inheritance, house sale etc.
If the firm failed after 1 Apr 2019
The FSCS may be able to compensate you for misleading advice, poor investment management or misrepresentation if the firm that gave you that advice has since failed.
The compensation limit is also £85,000 per eligible person, per firm
Full details at https://www.fscs.org.uk/what-we-cover/