From 1 December 2025, the Financial Services Compensation Scheme (FSCS) deposit protection limit increased to £120,000. This means savers with a UK-authorised bank, building society, or credit union are protected up to £120,000 per person, per firm if the institution fails. Protection for temporary high balances has also risen to £1.4 million. These balances, often […]
When you save money in a UK bank, building society or credit union that’s authorised by the Financial Conduct Authority (FCA) and Prudential Regulation Authority (PRA), your money is protected by the Financial Services Compensation Scheme (FSCS). Why this matters: Many savers don’t realise that their deposits are protected. Understanding the FSCS rules can give […]