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Wed 16-Aug-2017
NewsFSCS Announces New Deposit Protection Limit
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16 September 2015
FSCS Announces New Deposit Protection Limit
The Financial Services Compensation Scheme has announced a new limit on the amount of individual savings that are covered by the scheme.

The current £85,000 level of protection continues until 31 December 2015, so there’s no immediate change for consumers. That means people with more than the new limit have six months to spread their money around to keep within it.

The new limit, from the 1st January 2016, will be £75,000, which will protect more than 95% of all savers nationally. This reduction will not currently affect London Capital’s savers.

More information can be found on the FSCS website:
http://www.fscs.org.uk/news/2015/july/new-deposit-protection-limit-coming-on-1-january/
 

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