The deposit guarantee limit for savers in UK banks and building societies will fall from £85000.00 to £75000.00 from 1st January 2016
Due the increase in the value of sterling against the euro the amount of consumer protection has been reduced to £75000.00 from 31st December 2015.
Another announcement by the FSCS is more likely to be welcomed by savers. With effect from 3rd July 2016, savers with certain types of temporary high balances will have FSCS protection up to £1m for up to 6 months. Things like the proceeds from a house sale will qualify for the new protection limit.
Please call if you would like to discuss this or any issue. We are happy to offer a free 1 hour meeting to go over any issues or questions you have.
