Deposit Protection Limit Rises to £120,000 from December

Savers will benefit from a significant increase in deposit protection next month.

From 1 December, the amount of money safeguarded if a UK bank or building society fails will rise from £85,000 to £120,000 — a 41% increase and higher than expected, according to The Guardian.

This enhanced protection will strengthen financial security for customers across the UK.

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