FSCS deposit protection limit to be bumped back up to £85,000 tomorrow Monday 30th January 2017

Expires on 01/01/2020
Not a deal, merely a reminder.

Savers will have an extra £10,000 safeguarded as of tomorrow, as the deposit protection limit is increased back up to £85,000 due to Sterling tanking.

The deposit protection limit under the Financial Services Compensation Scheme (FSCS), which is designed to protect consumers' cash should lenders run into hot water, was cut to £75,000 last year in an effort to put the UK in line with the European directive governing the scheme, which states the limit must be equivalent to €100,000.

5 Comments

Good to know for those with offset mortgages or lucky enough to have high savings. Thanks for this. Would I be correct in assuming joint accounts will be guaranteed up to £170k?

harryg001

Good to know for those with offset mortgages or lucky enough to have high … Good to know for those with offset mortgages or lucky enough to have high savings. Thanks for this. Would I be correct in assuming joint accounts will be guaranteed up to £170k?


Yes that is correct.

This limit is still per license. Some banks having the same parent company will share the license.

Original Poster

radium

This limit is still per license. Some banks having the same parent … This limit is still per license. Some banks having the same parent company will share the license.



Fewer examples of those now given de-mergers.
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