Is it safe? / Post Office Money®
Is Post Office Money® safe?
Yes — Post Office Money® is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the Bank of Ireland (UK) plc banking licence (Bank of Ireland Group plc). Important: that limit is shared with Post Office Money®, Bank of Ireland UK — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
Bank of Ireland (UK) plc
Parent company
Bank of Ireland Group plc
The shared-limit catch
Post Office Money® shares its banking licence with Post Office Money®, Bank of Ireland UK. 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)
Post Office Money savings are Bank of Ireland UK deposits — one shared limit across both names.
Post Office Money®'s current savings rates
- Online Saver Issue 884.15% 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.