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What is the current Financial Services Compensation Scheme (FSCS) deposit protection limit?

From the 30 January 2017, your eligible deposits protected by the Financial Services Compensation Scheme (FSCS) increased to £85,000 from the previous £75,000 per depositor per bank, building society or credit union. This protection means that if your bank, building society or credit union should become insolvent your eligible deposits will be protected up to £85,000.  For more information on this please visit the FSCS website

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nightsurfer

If the fscs limit is £85,000 why dows the Tesco website and printed matter still quote £75,000?

HI @nightsurfer,

 

We have upped our limit to £85,000 in accordance with the FSCS and we are in the process of updating our documentation. We do have a period of time to do so and we are still within the FSCS guideline timescales, however, rest assured the limit has been increased and the documentation will reflect this shortly. Apologies for any confusion caused,

 

- Michelle