# PRA consults on raising FSCS deposit protection above £85,000

> Regulation · 5 May 2026

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## Summary

The Bank of England's Prudential Regulation Authority opened a consultation on increasing the £85,000 per-bank deposit protection limit, unchanged since 2017.

The Prudential Regulation Authority has launched a consultation on raising the Financial Services Compensation Scheme's deposit protection limit, which has stood at £85,000 per person per banking licence since January 2017.

The headline figure cited in the consultation is £110,000, in line with inflation since the limit was last set. The temporary high-balance limit of £1 million, which protects deposits arising from life events such as a house sale for up to six months, would also be reviewed.

Savers with more than £85,000 currently need to spread money across separate banking licences to keep all of it protected. Several well-known brands share a single licence, so the practical limit can be lower than people expect.

Any change would not take effect before 2027 at the earliest. The consultation closes in August.

## Related topics

- [/savings/](https://moneyguide.org.uk/savings/)
- [/banking/](https://moneyguide.org.uk/banking/)

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Independent UK money guidance from [Money Guide](https://moneyguide.org.uk). Information only — not regulated financial advice.