Is Hargreaves Lansdown Active Savings FSCS protected? Where your money is actually held

Hargreaves Lansdown is not a bank, and Active Savings itself is not FSCS-protected. Money you put into a savings product is placed with the partner bank you choose, where it is FSCS-protected up to £120,000 per person at that bank's licence, counted together with anything else you hold there. Money waiting in the cash hub is e-money held at Barclays Bank plc and protected by safeguarding, not by the FSCS, if Hargreaves Lansdown fails.

Hargreaves Lansdown Active Savings is an FCA-authorised electronic money institution, not a bank: customers contract with Hargreaves Lansdown Savings Limited (FCA firm reference 901007). Every statement below is taken from the source named beneath it, last checked 22 October 2026. It is information, not advice.

Who holds the money, product by product

Who Hargreaves Lansdown Active Savings is

Active Savings is run by Hargreaves Lansdown Savings Limited (company 08355960), which HL describes as authorised by the FCA as an electronic money institution (firm reference 901007) and not a bank; it also gives 915119 as its payment-services reference. Investment accounts are with a separate firm, Hargreaves Lansdown Asset Management Limited (firm reference 115248).

Hargreaves Lansdown was taken private on 24 March 2025 by a company owned in equal shares by funds of CVC, Nordic Capital and the Abu Dhabi Investment Authority, at 1,110p a share; its shares left the London Stock Exchange the next day. Its 2026 accounts state there is no ultimate controlling party.

How each product is protected

Money paid into Active Savings first goes to the cash hub, where HL issues you e-money for it. When a savings product starts, HL moves the money to the partner bank, usually into a pooled account in HL's or its nominee's name held on trust for you and other customers. Withdrawals and maturities come back to the cash hub first, never straight to another bank.

HL's terms state: "HLSL, Active Savings and E-Money are not covered by the FSCS." The FSCS cover is on the deposits held at the partner banks. Cash in HL investment accounts is client money: FSCS investment cover of up to £85,000 applies if HL's investment firm defaults, and deposit cover of up to £120,000 if a bank holding that cash fails.

If Hargreaves Lansdown Active Savings or a partner bank fails

If Hargreaves Lansdown fails, money already in a savings product stays with the partner bank and remains FSCS-protected there, though HL says it may take longer to get back than if you had saved with the bank directly. Money in the cash hub is not FSCS-protected against HL's failure; it is protected by the FCA's safeguarding rules, with no upper limit, but an administrator's costs could reduce what you receive.

If a partner bank fails, the FSCS protects up to £120,000 per person per banking licence; HL says the FSCS aims to repay Active Savings customers within three months. Because most products are pooled, any shortfall in the pooled account is shared proportionately between the Active Savings customers in it, and fixed-term deposits become repayable early.

Does it share your FSCS limit?

Yes. HL's terms state that the FSCS limit "is applied to the total of any money you hold with a particular banking license, whether held through Active Savings or not." Some brands on the platform share a licence: Paragon and Spring; Shawbrook and HL Easy Access; Metro Bank and RateSetter; Arbuthnot Direct and Arbuthnot Latham.

Barclays Bank plc holds the cash hub and is also one of the main banks for HL investment-account cash, and HL warns that money you hold with Barclays outside Active Savings may fall under the same £120,000 limit. Barclays Bank plc is a different licence from Barclays Bank UK PLC, which holds Barclays' high-street accounts.

Size

Hargreaves Lansdown had about 2.2 million active clients and £204.6 billion of assets under administration at 30 June 2026, and made a statutory profit before tax of £368.0 million in the year. Active Savings held £14.7 billion for over 222,000 clients at 30 June 2025, the latest balance published; HL calls it the UK's largest retail cash savings platform.

Regulatory record since 2020

No FCA fine or final notice against a Hargreaves Lansdown firm since 2020 was found. About 9,600 investors in the Woodford Equity Income Fund have brought High Court claims against Hargreaves Lansdown Asset Management, which rejects them; the trial is set for May 2028. The FCA's Woodford fines in 2025 were against Neil Woodford and his firm, not HL.

The fine print

Money in the cash hub earns no interest, and HL may keep any interest the hub account earns. Partner banks pay HL a fee on balances placed through Active Savings, and HL notes that rates may differ from the same bank's products sold directly.

Saving with a building society through Active Savings does not make you a member of that society, and Active Savings accounts are not available to joint holders. The HL Cash ISA is not a flexible ISA, so withdrawals cannot be replaced in the same tax year.

Frequently asked questions

Is Hargreaves Lansdown Active Savings FSCS protected?

Hargreaves Lansdown is not a bank, and Active Savings itself is not FSCS-protected. Money you put into a savings product is placed with the partner bank you choose, where it is FSCS-protected up to £120,000 per person at that bank's licence, counted together with anything else you hold there. Money waiting in the cash hub is e-money held at Barclays Bank plc and protected by safeguarding, not by the FSCS, if Hargreaves Lansdown fails.

Which bank holds my Hargreaves Lansdown Active Savings money?

Cash hub (money not yet in a product): Barclays Bank plc (e-money safeguarded by the firm, not FSCS deposit protection). Active Savings and HL Cash ISA products: Aldermore Bank Plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Allica Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Arbuthnot Latham & Co (Arbuthnot Direct) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Atom Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Bank of London and The Middle East plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Birmingham Bank Ltd (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Castle Trust Capital PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Charter Court Financial Services Limited (Charter Savings Bank) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Chetwood Financial Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Close Brothers Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Hampshire Trust Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Investec Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: LHV Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Metro Bank plc (including RateSetter) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Monument Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: National Bank of Kuwait (International) PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: OakNorth Bank plc (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: OneSavings Bank plc (Kent Reliance) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Paragon Bank plc (including Spring) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Santander Financial Services plc (Santander International) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Secure Trust Bank PLC (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Shawbrook Bank Limited (including HL Easy Access powered by Shawbrook) (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Tandem Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: United Trust Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Vida Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Active Savings and HL Cash ISA products: Zopa Bank Limited (a deposit with that bank, FSCS-protected up to £120,000 per person at that bank's licence). Cash in HL ISAs, SIPPs and Fund and Share Accounts: A panel of 11 banks, including Barclays Bank plc, Bank of Scotland plc, Lloyds Bank plc, HSBC Bank plc and Santander UK plc (client money the firm holds on trust at banks: FSCS deposit cover up to £120,000 per person per bank if a bank fails, and investment cover up to £85,000 for any shortfall if the firm fails).

What happens if Hargreaves Lansdown Active Savings goes bust?

If Hargreaves Lansdown fails, money already in a savings product stays with the partner bank and remains FSCS-protected there, though HL says it may take longer to get back than if you had saved with the bank directly. Money in the cash hub is not FSCS-protected against HL's failure; it is protected by the FCA's safeguarding rules, with no upper limit, but an administrator's costs could reduce what you receive.

Does Hargreaves Lansdown Active Savings share the FSCS limit with my other savings?

Yes. HL's terms state that the FSCS limit "is applied to the total of any money you hold with a particular banking license, whether held through Active Savings or not." Some brands on the platform share a licence: Paragon and Spring; Shawbrook and HL Easy Access; Metro Bank and RateSetter; Arbuthnot Direct and Arbuthnot Latham.

More: other savings apps and platforms, how FSCS protection works and which banks share a banking licence.