Will I be caught out by the bank deposit protection cut?

Michael Trudeau

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From 1 January 2016, the amount of your savings protected in the event of bank default will fall from £85,000 to £75,000.

From 1 January 2016, the amount of your savings protected in the event of bank default will fall from £85,000 to £75,000. This means that if your bank goes bust, the Financial Services Compensation Scheme (FSCS) will ensure you recoup up to £75,000 (or £150,000 for joint accounts).

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Source Moneywise http://ift.tt/1S4uTyW