Tue, 18 Nov 2025

Tue, 18 Nov 2025 UK bank customer protection rises to £120,000

Customers will see a significant increase in the amount of money protected if their bank collapses.
From December, UK customers will be protected up to £120,000 if their bank or building society collapses, a significant increase from the current limit of £85,000. This change marks the biggest rise since 2017 and reflects both inflation data and feedback from consultations. The new deposit protection limit is higher than the previously proposed £110,000. The Financial Services Compensation Scheme (FSCS) protection applies per person, per authorised firm, meaning that customers do not need to take any action as the new limit will apply automatically.
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