Is it safe? / Coventry BS
Is Coventry BS safe?
Yes — Coventry BS is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the Coventry Building Society banking licence (Coventry Building Society (mutual)). Important: that limit is shared with Coventry Building Society — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
Coventry Building Society
Parent company
Coventry Building Society (mutual)
The shared-limit catch
Coventry BS shares its banking licence with Coventry Building Society. If you hold savings with more than one of these, the £120,000 FSCS limit applies to the combined total — not per brand. Spreading large balances across different licences keeps every pound protected. Check your spread →
The fine print (verified July 2026)
Owns The Co-operative Bank, but the two run separate licences — separate limits.
Coventry BS's current savings rates
- 3 Access Saver - 1 Year (2)4.3% AER
From the daily rates scrape. Compare every provider →
Worth knowing
FSCS also covers temporary high balances (house sale, inheritance) up to £1.4m for six months (raised December 2025). Compensation is automatic if a firm fails — typically paid within seven days.