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The Financial Services Compensation Scheme (FSCS) protection limit
The FSCS is the UK’s compensation fund for customers of authorised financial firms. It pays compensation to savers if their bank or building society can’t meet its financial obligations. The scheme has changed and, along with all other banks and building societies, we need to make sure our customers know about the change and what it means for them.
What is the new protection limit and when is this changing?
On 30 January 2017 the protection limit for your savings increased from £75,000 to £85,000. Full information regarding current coverage and exclusions is shown in our ‘Financial Services Compensation Scheme Information Sheet’ – please click the link below:-
Effective 31st December 2020 – FSCS Information Sheet
For further information please visit the FSCS website www.FSCS.org.uk
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