In case you missed it, the Financial Services Compensation Scheme which guarantees bank deposits in Britain lowered the protected amount from £85,000 to the lower £75,000 from January 1, 2017. This rule applies to your holdings in any one bank or building society.
I cannot think of a convincing argument why the government should have made this move. Can you? It seems like it is an anti-consumer move.
Missed what? At the end of January the compensation limit is increasing from £75,000 to £85,000. The amount of money protected by the FSCS is linked to a European-wide protection level of â‚¬100,000. The increase is due to the falling value of the pound and is intended to bring the UK level of protection back in line with that â‚¬100,000 level.