Deposit Compensation Limit to increase to 85,000 pounds

The UK FSA has confirmed with effect from 31/12/2010, the new deposit compensation limit for the UK will increase from 50,000 pounds to 85,000.00 pr person, per authorised firm.

The revisd sum is the sterling equivalent of the 100,000 euro compensation limit which comes into force in all European Economic Area (EEA) Member states at the end of the year.