If a financial institution fails, the deposit protection scheme means customers can currently claim back the first £85,000 of their savings. That would rise to £110,000 under the new proposal.

The Prudential Regulation Authority (PRA) is proposing to raise the deposit protection limit of the Financial Services Compensation Scheme (FSCS) from £85,000 to £110,000. 1 31 March 2025 1 comment ...