No. If you have other saving accounts with other fintech apps that use ClearBank to hold customer funds then saving with Marygold will enable you to increase your overall protected funds through the Financial Services Compensation Scheme ("FSCS").
When you open an account with Marygold you simultaneously open up a direct account with our partner Griffin Bank Ltd ("Griffin"). Griffin are a UK regulated bank and eligible deposits, across all your Griffin accounts, up to £120,000 is protected by the UK Financial Services Compensation Scheme (FSCS). Learn more about Griffin’s deposit protection.
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