Compensation schemes
Financial Services Compensation Scheme
Important information about compensation arrangements
UK
Union Bancaire Privée (UK) Limited is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to depositors if a bank is unable to meet its financial obligations. Most depositors, – including most individuals and small businesses, are covered by the scheme.
In respect of deposits, an eligible depositor is entitled to claim up to £85,000. For joint accounts each account holder is treated as having a claim in respect of their share so, for a joint account held by two eligible depositors, the maximum amount that could be claimed would be £85,000 each (making a total of £170,000). The £85,000 limit relates to the combined amount in all the eligible depositor’s accounts with the bank, including their share of any joint account, and not to each separate account.
For further information about the compensation provided by the FSCS (including the amounts covered and the eligibility to claim) please ask your Private Banker, refer to the FSCS website www.fscs.org.uk or call the FSCS on 0800 678 1100. Please note only compensation related queries should be directed to the FSCS.
Channel Islands: Jersey and Guernsey
There is no compensation scheme in relation to investment accounts available in the Channel Islands. You may be entitled to compensation from the UK’s Financial Services Compensation Scheme (“FSCS”) if we cannot meet our obligations in relation to UK regulated mortgage business conducted from the Union Bancaire Privée (UK) Limited, Jersey or Guernsey Branch. This depends on the circumstances of the claim and on whether you satisfy the relevant eligibility criteria. For further information about the FSCS (including the amounts covered and eligibility to claim) please contact your Private Banker or refer to the FSCS website: www.fscs.org.uk.
Jersey
Union Bancaire Privée (UK) Limited, Jersey Branch is a participant in the Jersey Bank Depositors Compensation Scheme. The Scheme offers protection for eligible deposits of up to £50,000. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website www.gov.je/dcs, or on request.
Guernsey
Union Bancaire Privée (UK) Limited, Guernsey Branch is a participant in the Guernsey Banking Deposit Compensation Scheme. The Scheme offers protection for ‘qualifying deposits’ up to £50,000, subject to certain limitations. The maximum total amount of compensation is capped at £100,000,000 in any 5 year period.
Full details are available on the Scheme’s website: www.dcs.gg or on request.
Gibraltar
Union Bancaire Privée (UK) Limited, Gibraltar Branch is covered by the UK Financial Services Compensation Scheme (“FSCS”). The FSCS can pay compensation to eligible depositors and investors if a bank is unable to meet its financial obligations. Most depositors and investors, including most individuals and small businesses, are covered by the a scheme.
In relation to investment services, compensation will be payable, however, only in circumstances where we have been in default to you of our obligations. It will not be available merely because your investments have not performed as well as you had expected unless we are somehow at fault.
For further information about the schemes (including the amounts covered and eligibility to claim) please contact your Private Banker or refer to the FSCS website: www.fscs.org.uk