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FSCS Compensation Limits 2016
Wednesday 26th August, 2015 17:43 Comments: 0
I was checking the interest rates on my bank accounts and spotted that the Financial Services Compensation Scheme will reduce from £85,000 to £75,000 as of the first of January, 2016. Natwest provides a link to a PDF that doesn't tell you about the new lower rate (not very helpful) and a generic link to the FSCS website. After a bit of searching of the FSCS website, I managed to find this page containing the following information:

From 1 January 2016 deposit limit for bank accounts will be £75,000, and £150,000 for joint accounts. The £75,000 figure is the sterling equivalent of €100,000 as required by the recast Deposit Guarantee Schemes Directive.
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