Customers of UK banks and building societies will soon benefit from a major increase to the amount of money protected if their bank fails, after regulators confirmed that the Financial Services Compensation Scheme (FSCS) deposit limit will rise from £85,000 to £120,000. The change, announced by the Prudential Regulation Authority (PRA), marks the largest uplift since 2017 and reflects updated inflation data and industry feedback. It will take effect in December, with customers automatically covered...










