FSCS UK

[Gatekeeper]

Hi All,

Under the above scheme from 1st January 2016 is the amount covered 102,637.50 euros for a joint account or twice this amount? My understanding is that with a joint account the amount covered from 1st January is 102,637.50 even for a joint account.

 

[Lightning]

The limit is changing to the EUR equivalent of 75,000 GBP from 1 January 2016 for single accounts.

The limit is changing to the EUR equivalent of 150,000 GBP from 1 January 2016 for joint accounts.

 

[Gatekeeper]

CiaranT, thank you for the information. It's very helpful.

 

[Gatekeeper]

CiaranT,

What does GBP mean? And will these new rules also apply for Irish Banks from 1st January 2016?

 

[rob oyle]

CiaranT,

What does GBP mean? And will these new rules also apply for Irish Banks from 1st January 2016?

GBP = Pounds sterling. This is a UK scheme after all.
It will apply to deposits with banks in the UK, not deposits here.