The compensation arrangements applicable to your assets held with us are dependent on where your assets are held. This is set out in the Terms of Service.
Compensation in the event of default by TD Direct Investing
Cash and stock held with TD Direct Investing is covered by the Financial Services Compensation Scheme (FSCS). This means that if TD Direct Investing is unable, or likely to be unable, to pay claims against it, customers can apply to the FSCS for compensation. Any claim will be limited to £50,000 per individual. Further information is available on the FSCS website at www.fscs.org.uk.
Compensation in the event of default by a third-party financial institution
Cash held by TD Direct Investing is pooled with that of other customers and deposited with a number of financial institutions. In the event of the failure of one of these institutions, you may be able to make a compensation claim through the relevant deposit guarantee scheme.
In the UK, the relevant deposit guarantee scheme is the FSCS and deposits are protected up to a value of £85,000 per person, per institution.
In the interests of diversifying risk, we may deposit a proportion of the pooled money in a country outside the UK, where we cannot guarantee that it will be protected by a similar deposit guarantee scheme to the FSCS.
Compensation in the event of default by TD Bank N.V.
Cash deposited with TD Bank N.V. is protected up to a total of 100,000 euro by the Dutch Deposit Guarantee Scheme and is not protected by the FSCS. Two persons holding a joint account each qualify for full compensation. Any deposits you hold above the 100,000 euro limit are not covered. Further information is available on the De Nederlandsche Bank website at www.dnb.nl/en.