Is it safe? / RCI Bank UK
Is RCI Bank UK safe?
Yes — RCI Bank UK is FSCS-protected. Deposits up to £120,000 per person (£240,000 for joint accounts) are covered under the RCI Bank UK Limited banking licence (Renault Group (Mobilize Financial Services)). Important: that limit is shared with RCI Bank — money across these brands counts as one pot.
Protection
FSCS to £120,000
Licence holder
RCI Bank UK Limited
Parent company
Renault Group (Mobilize Financial Services)
The shared-limit catch
RCI Bank UK shares its banking licence with RCI Bank. 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 →
RCI Bank UK's current savings rates
- 2 Year Fixed Term Savings Account4.75% 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.