Financial Services Compensation Scheme
Commons · Question 38033 · Tabled 13 Mar 2025 · Treasury · Official record
Answered 19 Mar 2025
Question
Asked by Mark Garnier
To ask the Chancellor of the Exchequer, what recent discussions she has had with the Bank of England on the Financial Services Compensation Scheme's compensation limit for (a) consumer and (b) business accounts.
Answer
Answered by Emma Reynolds, 19 Mar 2025
Eligible deposits held by UK banks, building societies and credit unions that are authorised by the Prudential Regulation Authority (PRA) are protected by the Financial Services Compensation Scheme up to £85,000, with joint accounts protected up to £170,0...