FSCS Deposit Protection Course

The Financial Services Compensation Scheme (FSCS) safeguards customers' finances. It has protected over 4.5m customers and paid out over £2.6bn in compensation since 2001.

If a building society, credit union or bank goes bankrupt, customers will receive automatic protection of up to £85,000. In most cases, affected customers receive their money back within a week.

Our FSCS Deposit Protection Course explains which financial products and services are covered., the obligations for informing consumers and the levels of compensation available.

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FSCS Deposit Protection Course

About this Course

Available as part of our FCA Compliance Library.

Learning Objectives

This course will prepare your staff to:

  • Understand their responsibilities are under the FSCS
  • Be aware of what qualifies as a "temporary high balance"
  • Comply with the FSCS compensation process
  • Identify which customers are eligible for FSCS protection
  • Appropriately display FSCS information

Course Outline

Introduction

What is the FSCS?

- What the FSCS covers
- What the FSCS protects
- You decide: FSCS protection

Eligibility

- Compensation limits
- Scenario: Eligibility

Temporary high balances

- What qualifies as a temporary high balance?
- You decide: Temporary high balances

How compensation is received

Making FSCS information available

- The 'FSCS protected' badge
- Where should FSCS information be displayed?
- Scenario: Putting information on display

Summary

Affirmation

Assessment

FCA Course Library

Our FCA Course library of over 60 training modules covers everything from high-level and conduct of business standards to thematic topics, including treating customers fairly.

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FCA Course Library

Course Specifications

 

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Structure

Approximately 20 minutes followed by a 10-question assessment.

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Audience

Suitable for all staff - examples and interactivities designed for staff at all levels. No previous knowledge or experience is required.

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Design

SHARD-compliant, responsive display on all devices, accessibility on screen readers, visual design controlled via client style sheet.

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Test-Out

Ability to offer optional test-out, whereby users can choose to skip the course content and complete the learning assignment by simply passing the assessment 

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Compatibility

All Windows, Mac OSX, iOS, Android (Flash-free for mobile compatibility). AICC and SCORM 1.2-compliant, suitable for both hosted and deployed SCORM or AICC.

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Tailoring

Fully customisable on Skillcast Portal CMS.

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Translation

Pre-translated versions not available, but all text content can be exported for translation into all languages.

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Localisation

Based on UK legislation, but suitable for global audiences upon the removal of UK-specific references and translation as necessary.