Written Question·Treasury·UIN 38033
Financial Services Compensation Scheme
Tabled: 13 March 2025
Answered: 19 March 2025
Named DayQuestion
Mark Garnier
Conservative — Wyre Forest
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
Emma ReynoldsEligible 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...
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