Deposit protection falls to £75,000

Sep 4, 2015 | Tony Byrne's View

In line with EU requirements, every five years the Prudential Regulation Authority must review the protection given to deposit fund holders to ensure that there is a 100,000 Euro cap.

The review means that from the end of December the current protection level of £80,000 will reduce to £75,000. UKIP will no doubt use this to demonstrate that being in the EU is not a good idea … and in this case, they are probably right.