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The FSCS limit rose from £85,000 to £120,000 per person per institution on 1 December 2025 — the first increase in over 8 years. Here's everything you need to know about what's covered and how to maximise your protection. Updated December 2025 — £120,000 Limit FSCS Limits — What's Protected in 2026
Source: MoneySavingExpert FSCS guide; FSCS.org.uk. The £120,000 limit applies per authorised institution, not per account. Multiple accounts at the same bank (current account + savings account + ISA) all share a single £120,000 limit. Banking Groups — Critical for Spreading Risk
This is the most critical point for large savers: two bank brands in the same group share a single FSCS limit. Always check bankaccountswitch.co.uk or FSCS.org.uk to verify which banks share a group limit before spreading savings. How to Protect Savings Above £120,000
Revolut — Not FSCS: What This Means PracticallyRevolut's standard UK accounts are not covered by FSCS. Revolut safeguards customer funds by holding them in ring-fenced accounts at reputable banks, separate from Revolut's own corporate funds. If Revolut itself failed: your funds should be ring-fenced and returneable — but the process would be slower and less certain than FSCS. Some Revolut savings accounts held with partner banks may be FSCS-protected in those partner banks' names — check the specific account terms. The practical advice: do not keep large balances in Revolut's standard account. Use it as a spending/travel account and keep main savings in FSCS-protected institutions. KAELTRIPTON VERDICT The FSCS limit at £120,000 per person per institution (from December 2025) provides meaningful protection for most savers. Key actions: check which banking groups your accounts belong to (Lloyds, Halifax and Bank of Scotland share one limit); spread large savings across separate groups; use NS&I for amounts above what FSCS covers (unlimited HM Treasury guarantee); and if you have a temporarily large sum, invoke the temporary high balance protection up to £1,000,000. £120,000 Per Person Per Institution — From 1 Dec 2025 Q: What is the FSCS limit UK 2026? A: £120,000 per person per authorised institution. Increased from £85,000 on 1 December 2025. Joint accounts: £240,000. Q: Does FSCS cover Revolut? A: No — Revolut standard accounts are not FSCS-covered. Safeguarded funds only. Some savings via partner banks may have FSCS protection — check terms. Q: How do I protect savings above £120,000? A: Spread across multiple separate banking groups; use NS&I (unlimited HM Treasury guarantee); use temporary high balance protection if applicable. Q: Do Halifax and Lloyds share the FSCS limit? A: Yes — both are part of Lloyds Banking Group. Combined FSCS limit is £120,000 per person across all accounts in the group. Related Articles This article is for informational purposes only. Savings rates change frequently — always check current rates before opening an account. All institutions mentioned are FCA-regulated. FSCS protection £120,000 per person per institution from December 2025. Figures verified April 2026. |
FSCS Protection UK 2026: New £120,000 Limit Explained
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