FSCS Protection is changing from 1st December 2025
FSCS Protection is changing from 1st December 2025
What is the FSCS?
The Financial Services Compensation Scheme (FSCS) protects consumers when authorised financial institutions fail.
Established in 2001, the FSCS has paid out over £20 billion in compensation and is funded by a levy on regulated firms, making it free for consumers.
Has the FSCS ever intervened to provide compensation to bank customers?
While the FSCS provides an additional layer of protection for clients, no UK banking institution has, to date, required FSCS intervention to compensate depositors. Given the rigorous financial stability requirements placed on UK banks, future claims on the FSCS also appear unlikely – though not impossible.
What is Changing?
From 1st December 2025, if you bank with an United Kingdom authorised bank, building society or credit union;
- The standard deposit protection limit increases from £85,000 to £120,000 per individual.
- For joint accounts, the limit rises from £170,000 to £240,000.
- Temporary High Balances , protected for up to six months (such as funds arising from a property sale or inheritance) will increase from £1 million to £1.4 million.
For more information please go to : https://www.fscs.org.uk/
Contact us is you need advice or support in selling a property or with probate by calling : 0191 4974630 or 0191 4555361.
