Yes, money held in your Transaction Account, provided by ClearBank, is protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, per banking group.
Please note, if you hold any other accounts at ClearBank (in addition to your ClearBank account dedicated to Raisin UK), your protection of up to £120,000 is for the aggregated funds on your accounts. Please see the ClearBank page for details. For further information about FSCS, please visit https://www.fscs.org.uk/about-us/.