Savers now have £85,000 of their savings guaranteed in the event of a bank failure, thanks to a fall in the value of the pound.
European rules mean that savings worth €100,000 held at each financial institution must be protected by a national body. In the UK, the Financial Services Compensation Scheme (FSCS) protects the amount savers hold in UK financial institutions.
Source Moneywise http://ift.tt/2judnX6
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