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Glossary · Banking

FSCS (Financial Services Compensation Scheme)

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Definition: Protects eligible deposits up to £120,000 per person per authorised bank, building society or credit union from 1 December 2025. Investments, pensions and insurance have separate FSCS rules and limits.

Multiple brands operating under one authorisation share a single £120,000 limit. Up to £1.4 million 'temporary high balance' protection can apply for six months after life-event deposits (e.g. house sale, inheritance).

Primary source: fscs.org.uk

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