Written Question·Treasury·UIN 50099

Financial Services Compensation Scheme

Tabled: 6 May 2025

Answered: 13 May 2025

Named Day

Question

Mark Garnier

To ask the Chancellor of the Exchequer, whether her Department has made an assessment of the potential merits of increasing the the Financial Services Compensation Scheme deposit protection limit for registered businesses.

Answer

Emma Reynolds

Eligible 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. This limit is set by the PRA and applies t...

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