ClearBank FSCS Limit: Which Savings Apps Share It

The ClearBank FSCS limit is £120,000 per person, and it is one limit, not one per app. ClearBank is a UK bank that most people have never opened an account with, yet it holds the savings behind Revolut’s Instant Access Savings, Chip, Wealthify’s savings account, Tide and Capital on Tap. Money you put in any of those sits at the same bank, so it all counts towards the same £120,000 of Financial Services Compensation Scheme protection.

For most savers this changes nothing. If your combined balance across these apps is comfortably under £120,000, you are fully covered. It starts to matter once you spread a large sum across “different” apps believing each one has its own limit.

We checked each provider’s own terms, legal pages and FSCS information on 16 October 2026.

Which savings apps use ClearBank?

These are the products where the provider’s own wording says the account is provided by, or “powered by”, ClearBank:

Tide and Capital on Tap are business accounts, but they belong on this list because of how the limit works for sole traders, which we come to below.

Apps that do not use ClearBank (for comparison)

Not every app with savings pots uses ClearBank. Plum’s money protections page puts its Easy Access Interest Pockets and 95-Day Notice Pocket with Investec Bank and its Easy Access Savings Account with Lloyds Bank. Monzo, Starling, Chase and Kroo hold deposits under their own banking licences. Those each have their own separate £120,000 limit, which is why they are useful places to put money once your ClearBank total gets close to the cap.

Partnerships change. An app can move its savings to a different bank, so treat the table as a snapshot and check the summary box before you rely on it for a large balance.

Why one limit covers all of them

The FSCS protects deposits per person, per bank. It does not care which app you used to open the account. ClearBank’s FSCS information sheet, which Capital on Tap and others republish, is explicit:

“The £120,000 limit will also be applied where ClearBank Limited operates under different trading names or intermediaries.”

The same sheet goes further than most people expect. It says the limit also applies where an e-money firm or payment firm holds funds that are eligible for FSCS protection in a ClearBank “safeguarded” account, and that deposits held through ClearBank are “likely” to be added together up to £120,000. In plain terms: the more fintech brands you use, the more likely it is that several of them lead back to the same bank.

A worked example

Say you keep £60,000 in Revolut savings to earn the Ultra rate, £40,000 in a Chip saver and £30,000 in Wealthify’s savings account. That is £130,000 at ClearBank. If ClearBank failed, the FSCS would pay you £120,000 and you could lose £10,000.

ClearBank’s own example makes the same point with two products: £80,000 in savings plus £50,000 in a current account, the FSCS pays £120,000, and £10,000 is at risk.

The limit rules that catch people out

• Joint accounts: each holder gets their own £120,000. Revolut’s Joint Instant Access Savings at ClearBank is shared between two people, so it adds half its balance to each person’s ClearBank total. Our best joint savings apps page covers how that adds up with personal savings.
• Children’s accounts: money in Revolut’s Kids & Teens Savings belongs to the child, so it counts towards the child’s limit, not the parent’s.
• Sole traders: Tide states that limited companies can claim up to £120,000 separately for business and personal money, but sole traders have one combined £120,000. A sole trader with a Tide account and a personal Chip saver has both inside the same ClearBank limit.
• Temporary high balances: money from a house sale, inheritance or insurance payout can be protected up to £1.4 million for six months, but you have to be able to show where it came from. It is not automatic headroom for everyday saving.
• Cash ISAs count too: Chip’s Cash ISA sits at ClearBank, so it shares the limit with the rest of your Chip and Revolut savings. The ISA wrapper protects you from tax, not from bank failure.

Is ClearBank safe?

ClearBank Limited is authorised by the Prudential Regulation Authority and regulated by the FCA and the PRA (firm reference number 754568, as printed on Tide’s site). It is a clearing bank: as well as holding deposits for app brands, it provides payment clearing for other financial firms. It is a real bank with a full licence, which is the whole reason these apps can offer FSCS cover at all.

The more practical risk is not ClearBank failing, but the app in front of it failing. If Chip or Wealthify went out of business, your deposit would still be at ClearBank and would not be lost, though getting access might take time while the account was moved or closed. We walk through that scenario in what happens when a money app shuts down.

How to check which bank holds your savings

You can confirm this for any app in about two minutes:

1. Open the summary box. Every UK savings account must have one. Look for “provided by”, “powered by” or the name of the account provider.
2. Read the footer of the app’s website. The regulatory small print usually names the bank and its firm reference number, as Tide’s does.
3. Use the FSCS checker. Enter the bank name in the FSCS protection checker. It will show the brands that share each licence.
4. Add up your total per bank. List every app, pot and ISA, write the bank behind each, and total by bank. Anything over £120,000 at one bank is your exposure.

If you are over, the fix is simple: move the excess to an app backed by a different bank. Our best savings apps roundup shows who holds the money for each pick, and are digital banks safe explains the difference between FSCS protection and e-money safeguarding.

Frequently asked questions

What is the ClearBank FSCS limit? £120,000 per eligible person. It covers everything you hold at ClearBank Limited combined, whichever app you opened it through, so Revolut savings, Chip, Wealthify and other ClearBank-powered accounts share one limit.

Is Revolut savings covered separately from Chip? No. Revolut’s Instant Access Savings and Chip’s savings accounts are both powered by ClearBank, so balances in both count towards the same £120,000.

Does my Revolut current account share the ClearBank limit? Revolut’s savings terms name ClearBank as the provider of the savings account. The current account is a separate product, so the bank behind each can differ. Check both in the FSCS checker if you hold large balances in each.

Does Plum use ClearBank? Plum’s money protections page lists Investec Bank for its Easy Access Interest Pockets and 95-Day Notice Pocket, and Lloyds Bank for its Easy Access Savings Account, not ClearBank.

How do I find out if my savings app uses ClearBank? Read the account’s summary box or the regulatory footer on the provider’s website, which names the bank. The FSCS protection checker also lists the brands that share each banking licence.

Is a Chip Cash ISA protected by the FSCS? Yes. Chip says its Cash ISA is powered by ClearBank and covered by the FSCS subject to eligibility, but it shares the £120,000 ClearBank limit with any other ClearBank savings you hold.

Sources

• ClearBank, FSCS information sheet, as republished by Capital on Tap, read 16 October 2026.
• Revolut, Instant Access Savings (powered by ClearBank) Terms, updated 2 December 2025.
• Chip legal page, Wealthify savings account page, Tide savings and “Is my money safe” pages, Plum money protections page, all read 16 October 2026.