Plan to raise deposit protection limit to £110,000
Source: BBC
A proposed change to banking rules will increase significantly the amount of savers' money that is protected when a bank or building society goes under.The planned increase takes into account inflation since the limit was last set in 2017, the body which supervises UK banks, the Prudential Regulation Authority (PRA) said.If a financial institution fails, the deposit protection scheme means customers can currently…
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