The Deposit Guarantee Limit is now £85,000

17th December 2010

The Financial Services Authority (FSA) has confirmed that the new deposit compensation limit will increase from £50,000 to £85,000 per person, per authorised firm, from 31 December 2010. 

Click here for the FSA press release.

Jargon Buster

  • Authorised firm

    a company, unincorporated body, partnership or individual permitted to carry out a regulated activity by the FCA or the PRA. This term includes a mutual (unincorporated) organisation, for example a friendly society.
  • FSA

    Financial Services Authority, was previously the UK's regulator for the finance industry. It was replaced by the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) on 1 April 2013.