Savers are being advised to check that their money is covered by the UK's compensation scheme in the event that their bank collapses, the Guardian reports.
The financial services compensation scheme (FSCS) covers savings and current account holders' money up to the value of £85,000 should their bank fail. However, that limit only applies to savings held with banks and building societies operating under a single banking licence - but some account providers share one.
For example, institutions such as Halifax, Bank of Scotland and Saga all share one banking licence, so customers would only be compensated for up to £85,000 in total across the firms should any of them fail.
In recent years, a number of bank and building society mergers and takeovers means groups sharing the same banking licence have changed.
Chief executive of the FSCS, Mark Neale, commented: "In these uncertain times consumers should feel reassured that the FSCS will continue to be there for them. All cash up to £85,000 for individual accounts and £170,000 for joint accounts is safe, as long as you do not exceed these limits for institutions authorised by the FSA.
"If you are not sure then check your money is protected."
A spokesperson for thinkmoney said: "It's important for banking customers to check if their bank operates under a single or a shared licence, and consider how this could affect their money should their bank fall into difficulties. This interactive guide could help you to decide the best way of depositing your money and ensuring it's covered."