FSCS protection is increasing from £85,000 to £120,000 – here’s what this means for your money
01 Dec 2025 Written by: Scottish Building Society
From 1st December, there’s an important update to how your money is protected in the UK. The Financial Services Compensation Scheme (FSCS) increased its deposit protection limit from £85,000 to £120,000 per person.
If you’re saving or planning ahead financially, this is really good news. Here’s everything you need to know.
What is the FSCS?
The FSCS is an independent scheme that protects customers if a UK-regulated bank, building society or other financial provider fails. It acts as a safety net, making sure people don’t lose their eligible savings.
What’s changing?
The deposit protection limit is rising from £85,000 to £120,000.
This means that if you have money with a UK-regulated provider like us, up to £120,000 of your eligible deposits are protected if Scottish Building Society were ever to fail. 
Why is the limit increasing?
The change has been introduced to give savers better protection and reflect the rise in the cost of living and the amount many people now have saved. It helps ensure that FSCS protection stays relevant and continues to provide meaningful peace of mind.
How does this affect you?
The great news is, you don’t need to do anything.
The new limit applied automatically on the 1st December.
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Your eligible deposits with us will now be protected up to £120,000.
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The protection applies per eligible person, per provider.
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Joint accounts will be protected up to £240,000 in total.
Will anything else change?
No. This update only affects the FSCS protection limit.
You may still see some references to the old £85,000 limit on our website or documents as we update them. But don’t worry, from 1st December, the new £120,000 limit is in place.
Want to learn more?
You can find clear, up-to-date information about FSCS protection on the official FSCS website.
We're here to help
You can visit us in our Relationship Centres, or call us on 0333 207 4007. Our lines are open 9am - 5pm Monday to Friday (10am - 5pm Wednesday). Calls may be recorded and/or monitored.