How generous is the UK’s new deposit insurance limit?
BoE’s decision to raise limit to £120,000 marks first change in eight years
The Bank of England announced today (November 18) that it would be raising the UK’s deposit insurance limit.
From December 1, deposits at UK banks, building societies and credit unions will be protected up to £120,000 ($157,800). This compares with the current limit of £85,000 that was set in 2017. Public data and Central Banking’s own benchmarking statistics reveal that the change puts the UK’s deposit insurance scheme among the most generous worldwide.
Deposit insurance in the UK is
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