The Financial Services Compensation Scheme (FSCS) is a scheme provided by the UK Government. It gives a level of cover for your money if anything happens to your bank, building society or credit union.
Their deposit limit is changing from 30th January 2017. This change applies to all banks, building societies and credit unions in the UK.
What is changing that will effect Citysave members?
For an individual: The level of cover is increasing from £75,000 to £85,000 per bank, building society or credit union
If you wish to know more about the scheme then please go to: www.fscs.org.uk