Is it safe? / RBS
Is RBS safe?
Yes — RBS is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the The Royal Bank of Scotland plc banking licence (NatWest Group plc). Important: that limit is shared with Royal Bank of Scotland — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
The Royal Bank of Scotland plc
Parent company
NatWest Group plc
The shared-limit catch
RBS shares its banking licence with Royal Bank of Scotland. 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)
Separate licence from NatWest — RBS deposits get their own limit.
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.