What’s changed at FSCS since COVID-19?

From FSCS Chief Executive Caroline Rainbird:

I wanted to let you know how FSCS has adapted our service to respond to the COVID-19 situation. Helping everyone who needs us is still at the heart of everything we do, as well as making sure our staff are healthy and safe in these challenging times.

We all find ourselves in an unprecedented situation which has thrown up some real challenges in many areas of our lives – our finances being one of them. I want to reassure you that FSCS is still here for you and we will continue to protect your money if your financial firm fails. We’re still processing claims within our usual timescales.

We’ve put in place the following measures in the last few weeks to ensure we will continue to support you:

• Adopted new ways of working: our staff are working remotely and we’ve trained lots more people to answer your queries on webchat so we’re still here to help, even if our phone lines are extra busy (find the webchat button on the bottom-right of this page).
• Answered the questions you’re asking: we updated our small businesses page to answer the many questions we received about how we protect you if you have a business account and personal account with the same bank.
• Adapted our claims service for claims management companies (CMCs) and their customers: if you’re self-isolating or don’t have access to a printer/scanner, CMCs can now sign the application form on your behalf (they must also attach written confirmation from you to say you’re happy with this).
• Taken extra care of our staff: we’ve extended paid leave for those with children after schools closed, supported flexible working patterns and set up virtual exercise, yoga and meditation sessions. We’re doing all we can to keep our staff healthy and happy so they can carry on helping you.

The London Mayor’s Good Work Standard has recognised FSCS’s efforts during the COVID-19 outbreak by awarding us ‘excellent’, the very highest level. The Mayor's Good Work Standard brings together best employment practice across London to help employers improve their companies. We’re now part of an exclusive group of companies in London that will work together throughout this crisis.

We are constantly reviewing how we work and we will carry on evolving our service so we continue to meet your needs. Look after yourselves and stay safe.

Visit our COVID-19 page for more information and to find out how to avoid some FSCS-related coronavirus scams that have emerged.