From 1 December 2025, UK bank customers will have their FSCS protection increased from £85,000 to £120,000 per banking institution.1 This means that if a bank, building society or credit union were to fail, the Financial Services Compensation Scheme would compensate eligible customers up to £120,000.
Temporary High Balances have also increased, going from £1m to £1.4m up to six months after a qualifying event.2
Together, this means that savings platforms like Akoni can offer more protection for your cash than ever before.
The change is especially welcome news to any one with instant access or notice accounts on a high interest rate,* as they’ll be able to add an extra £35,000 to their deposit under FSCS protection.**
As of 3rd December 2025, our top instant access and fixed-term accounts, for individuals & joint-accounts, are 3.87% & 4.00% respectively, in addition to 4.04% for Notice Accounts.***
If you have any questions, please email contact@akonihub.com or call 020 3137 9388 to speak to a member of our team.
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*Provided that they have not already given notice on their notice account.
**As long as they do not have £35,000 already with this bank or building society in a different deposit.
***All rates shown at AER.
1) https://www.fscs.org.uk/what-we-cover/banks-building-societies-credit-unions/deposit-limit-increase
2) https://www.fscs.org.uk/making-a-claim/claims-process/temporary-high-balances
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