the FSCS
noun
ukusBANKING,FINANCE,GOVERNMENT
abbreviation forFinancial Services Compensation Scheme: in the UK, anofficialsystemthat givesmoneyback topeoplewholosemoneybecause ofmistakesmade byfinancialorganizationssuch asbanks:
If theinsurancecompanycouldn'tpayoutclaims, the FSCS wouldact.