New cash limit for bank protection

By Caroline Anstee, Managing Director of Anstee & Co.

From the 1st of December 2025, the deposit protection scheme will rise from £85,000 to £120,000.

What does this mean?

This means that from 1p to £120,000, cash is protected should the bank, building society, or credit union collapse.

This is good news and ensures consumers can feel their money is safe up to that limit.

The FSCS (Financial Services Compensation Scheme) protection limit applies per person, per authorised firm. Beware, as some banking groups operate multiple brands under a single licence, meaning the limit applies to the total across all brands. Always check the limit when you open a new account to see if it is linked to any other group.

What action do I need to take?

No action is necessary as the limit will automatically apply from the 1st of December to all bank accounts within the scheme.

How Anstee & Co. can help you.

We are a firm of Independent Financial Advisers (IFA’s), This means that the financial advice we offer is unbiased. We will look at all the financial solutions that are available to you from the “whole of market”. This is unlike some financial advisers who will recommend only their products or work from a restricted panel.

Our experience covers all aspects of financial planning including Pensions, Investments, Mortgages and Estate Planning.

Why not contact us today. The initial “getting to know you” meeting is at our cost.

Our offices and meeting rooms are located at-

• Kettering, Northamptonshire
• Bedford, Bedfordshire
• Northampton, Northamptonshire
• Market Harborough, Leicestershire

If you have any thought or comment about this article “New cash limit for bank protection”, then please let us know.

The information contained in this article is for information purposes only and does not constitute advice. No action should be taken based on this information alone. Anstee & Co is authorised and regulated by the Financial Conduct Authority (FCA).