UK bank customer protection if firm goes bust rises to £120,000
Source: BBC
Customers with bank accounts in the UK will see a significant increase in the amount of money that is protected if their bank or building society collapses.The deposit protection scheme means customers can currently claim back the first £85,000 of their money. But from December that will rise to £120,000.The move, confirmed by the Prudential Regulation Authority (PRA) which supervises UK banks, marks the biggest…
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