Reference · Legal limits
Bank deposit protection limits in the UK and France
The UK scheme covers up to £120,000 per eligible depositor per authorized firm. France’s ordinary limit is €100,000 per customer per institution. Both schemes have higher protection for qualifying temporary balances, with different eligibility windows and ways of applying the limits.
Sources checked
- 01UK ordinary deposits
Up to £120,000 per eligible person per authorized firm. Source 1
- 02France ordinary deposits
Up to €100,000 per customer per covered institution. Source 3
- 03UK qualifying temporary balances
Up to £1.4 million in most cases for six months. Source 2
- 04France qualifying temporary balances
An additional €500,000 per qualifying event, generally for amounts received less than three months before failure. Source 3
Eligibility and timing determine whether the scheme applies a higher limit.
The institution is the unit for ordinary protection
The UK rule applies per eligible person per authorized firm and the French rule per customer per institution. The ordinary cap applies across eligible deposits at that institution. For a French joint account, the FGDR normally allocates shares equally, then adds each person’s share to other eligible deposits they hold at the same institution. Source 1 Source 2 Source 3
A qualifying life event can increase the UK amount for six months
FSCS lists proceeds from the sale of a main home and certain other events. Its six-month period starts when the funds first become legally transferable or are first credited, depending on the case. Moving the money does not start another six-month period. Source 2
France tests when the temporary balance was received
The FGDR lists home-sale proceeds, some compensation and certain lump-sum payments among qualifying events. It normally adds up to €500,000 per qualifying event for funds received less than three months before failure. Bodily injury compensation is an exception to that cap. Source 3
Keep evidence for the temporary balance
The FGDR asks claimants for supporting documents within two months after receiving their final compensation letter. FSCS says it reviews the evidence when a covered firm has failed. An ordinary balance and a qualifying exceptional deposit can therefore require different evidence and processing. Source 3 Source 2