Change in FSCS deposit protection scheme

edited 30 November -1 at 1:00AM in N. Ireland
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Mrs_Mac_1Mrs_Mac_1 Forumite
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edited 30 November -1 at 1:00AM in N. Ireland
Got a letter from the bank today informing us that the Financial Services Compensation Scheme (FSCS) is changing the deposit protection limit for all banks, building societies and credit unions in NI and UK on 1 January 2016. From that date, the level of cover is reducing (from the current figure of £85000) to £75000. Just wondered does anyone know why and has there been a lot of information about this as this is the first we have heard of it??


Thanks
Mrs Mac

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