FSCS limit now £85,000
Posted on Feb 23, 2017The Financial Services Compensation Scheme (FSCS) limit is now £85,000. It’s up £10,000 after an increase by the regulator from 30th January 2017. The limit for joint accounts moves to £170,000.
FSCS Chief Executive, Mark Neale, says the increase strengthens savings protection. “Increasing our limit means we’ll protect more money and more people. Our new limit will protect about 98% of the UK public. So people can be sure their money in banks, building societies and credit unions is safe.”
For more information, visit the FSCS website or download the FSCS leaflet below –
