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Important information

FSCS and other compensation schemes

FSCS and other compensation schemes

UK

We are 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.

Investors should note the limitations of the compensation schemes with regard to investment products. In the UK, a claim may be available only if,

(1) the provider of advice in advised sales, was insolvent and investors had a claim against it for negligent advice or mis-selling; or 

(2) the structured product provider was insolvent and investors had a claim against it for maladministration, mismanagement, misrepresentation or misappropriation of funds.

Should a UK investment institution be declared in default, investment holdings of private individuals and small businesses are protected by the FSCS. The investment compensation limit is £50,000 per person per firm.

Rules and regulations made for the protection of investors and/or depositors under the UK Financial Services and Markets Act 2000 will not apply to business conducted at or from offices located outside the UK and investors and/or depositors will not be able to benefit from the provisions of the Financial Services Compensation Scheme.

The application of schemes will depend on the jurisdiction in which the adviser or product provider operates. There are no investor protection schemes in the Channel Islands and the scheme in Gibraltar has very limited application.   

For further information about the compensation provided by the FSCS (including the amounts covered and eligibility to claim) please ask your private banker or 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.

Jersey Banking Deposit Compensation Scheme 

SG Kleinwort Hambros Bank (CI) Limited is a participant in the Jersey Banking Deposit 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 in any 5 year period. Full details of the Scheme and banking groups covered are available on the States of Jersey website or on request.

Guernsey Banking Deposit Compensation Scheme 

SG Kleinwort Hambros Bank (CI) 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 in any 5 year period. Full details are available on the Scheme's website www.dcs.gg or on request.   

Gibraltar Deposit Guarantee Scheme 

SG Kleinwort Hambros Bank (Gibraltar) Limited is a participant in the Gibraltar Deposit Guarantee Scheme (“the Scheme”) established under the Deposit Guarantee Scheme Act (“the Act”). Payments under the Scheme cover 100% of the bank’s total liability to a depositor in respect of deposits which qualify for compensation under the Act subject to a maximum payment to any one depositor of €50,000.

 Further details of the Scheme are available on request or can be found at www.gdgb.gi. The Scheme does not apply to fiduciary deposits. SG Kleinwort Hambros Bank (Gibraltar) Limited is a participant in the Gibraltar Investor Compensation Scheme. Further details are available on request or can be found at www.gics.gi