Clarification re FSCS on HTB account

Hi. Can someone tell me what the second part of this section of the HTB T&Cs means? I’m not clear on the distinction between money being held by HTB and held by Chip, and the distinction between “protected” and “safeguarded”.

If you saved 85k into the HTB would it be protected or not?


“2.0 Your money with the Provider is eligible for the Financial Services Compensation Scheme (“FSCS”) for amounts up to £85,000
The money you deposit is eligible up to a total of £85,000 by the Financial Services Compensation Scheme (FSCS). The FSCS apply this limit to each person and to the total amount of any money you have with the Provider, whether held through Chip or not. To find out more and to check your eligibility please visit

When your money is held by Chip, it is not protected under the FSCS scheme, but it is safeguarded.”

I can only believe it means between the time delay from you depositing the money with Chip and then it being sent to HTB. I don’t think the money goes straight to HTB when you deposit it which is why it takes a couple of days to appear in your account….

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Ah right, OK - thank you!

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Another question . . . Do the HTB and the Chip+1 account count as the same financial institution or different FIs in relation to the FSCS protected amounts of 85k?


Different banks so totally separate. The +1 isn’t with HTB. Can’t remember who it is with but I know it’s not HTB

Great, thanks. Looks like it’s ClearBank actually - does that ring a bell?

Yes it does. Well remembered