Yes. As Griffin is a UK bank, your funds are protected by the Financial Services Compensation Scheme (FSCS), the UK's deposit guarantee scheme. The FSCS covers eligible deposits of up to £120,000 per depositor.
This protection applies per customer, per institution. It means that even in the unlikely event that Griffin fails, your money is safe up to the FSCS limit.
Important note on the £120,000 limit: £120,000 is the maximum compensation you will receive across all bank accounts you hold with Griffin. If you have funds with Griffin through TransferGo and also with Griffin through another provider that is powered by Griffin, you will still only receive a maximum of £120,000 in total. Read more on Griffin's deposit protection page.
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