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Bank of England set to raise deposit guarantee from £85,000 to £110,000

Summary by Financial Times
Increase in protection designed to give confidence to UK depositors and account for inflation

20 Articles

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Daily MirrorDaily Mirror
Lean Left

Huge shake-up of UK banking rules set to impact millions of savers - The Mirror

The FSCS deposit protection limit is currently set at £85,000 but could be increased to £110,000, under new proposals being put forward today

·London, United Kingdom
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BBC NewsBBC News
Center

Plan to raise deposit protection limit to £110,000

The amount of savings protected if a bank goes under should rise from the current £85,000, a regulator says.

·United Kingdom
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The SunThe Sun
Reposted by
The Scottish SunThe Scottish Sun
Right

Huge change to banking rules that will boost protection for millions by £25k

MILLIONS of savers are set to get an extra £25,000 worth of their savings protected under plans by the banking watchdog. The Prudential Regulation Authority (PRA), which oversees banking in the UK, has proposed increasing the amount of savings that are protected if a financial firm goes bust to up to £110,000. AlamyThe FSCS pays out compensation if your financial firm fails[/caption] If you put your money into a regulated financial firm such as …

·United Kingdom
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Financial TimesFinancial Times
Center

Bank of England set to raise deposit guarantee from £85,000 to £110,000

Increase in protection designed to give confidence to UK depositors and account for inflation

·London, United Kingdom
Read Full Article
Financial ITFinancial IT

The Prudential Regulation Authority Proposes Raising FSCS Deposit Protection Limit To £110,000

The Prudential Regulation Authority (PRA) has today proposed to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000. The deposit protection limit – which represents the maximum amount of money the FSCS typically protects should a depositor’s bank, building society or credit union become insolvent – has been set at £85,000 since 2017.

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Retail Banker InternationalRetail Banker International

Bank of England proposes deposit protection limit hike to £110,000

Bank of England’s Prudential Regulation Authority (PRA) has proposed increasing the Financial Services Compensation Scheme (FSCS) deposit protection limit from £85,000 ($109,944) to £110,000 ($142,281). This move is intended to bolster consumer confidence by ensuring that deposits are safeguarded in the event of a bank, building society, or credit union failure. The current limit has been in place since 2017 and the proposed change reflects adju…

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Financial Times broke the news in London, United Kingdom on Monday, March 31, 2025.
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