The Financial Services Compensation Scheme (FSCS) has increased the protection limit from £85,000 to £120,000 from 1st December 2025.
This means if you hold deposits or savings with a building society, bank, credit union, or other UK-authorised financial firm, and they go out of business, FSCS can provide compensation up to £120,000 per eligible person, per authorised firm.
Temporary high balance protection also applies for up to six months, covering up to £1.4 million for large one-off deposits from events like property sales, redundancy payments, or inheritances.
We will be communicating this change to our members shortly and will revise our materials to reflect the increase in due course.
For further information visit www.fscs.org.uk.