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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
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For access to your online account please contact your personal account manager, alternatively email team@regencyfx.com.
The Financial Services Compensation Scheme or FSCS, is the UK’s deposit protection system. Its role is simple. If your bank, building society or credit union fails, FSCS steps in to return your money up to a certain limit. This means your savings are protected even if the institution holding them collapses. The scheme is funded by the financial services industry, not the government and it is there to give you confidence that the money you keep in a UK regulated account is secure.
If you move money overseas or deal with larger international transfers, FSCS protection matters more than you might think. It shapes how safe it feels to hold funds in your bank before or after you exchange them.
From 1 December 2025, the amount FSCS protects will rise from £85,000 to £120,000 per person, per authorised bank. There is also extra protection for temporary high balances. These are the one off amounts you might receive from selling your home, getting an inheritance or settling an insurance claim. These larger sums will now be covered up to £1,400,000 for six months, versus the previous £1,000,000 that was covered before.
The intention behind the increase is straightforward. Costs have risen and people often need to hold larger amounts in their bank at certain points in their lives. The new limit gives you more breathing room.
Even though FSCS does not apply to currency exchange companies, it still affects your decisions when planning an international transfer. Most people keep their funds in a UK bank account for a short time before converting them. With the higher protection limit, it feels far safer to let the money sit there while you finalise your plans.
If you are preparing to buy a property abroad, pay a supplier or relocate, this extra protection can remove a lot of pressure. You no longer need to rush your transfer simply because you are edging close to the previous limit.
For anyone dealing with larger sums, the higher limit can make a difference. It can feel reassuring to move a big transfer into your UK account first, knowing a greater amount is covered. It also gives you the breathing room to pick the right time to exchange instead of feeling pressured to do it straight away. In everyday situations, that temporary high balance protection can be especially useful.
The temporary high balance protection is particularly helpful in real life situations. If you complete a property sale or receive a settlement, you have six months of extra cover while deciding how and when to move that money overseas.
If you run a business, work as a contractor or manage money in more than one country, you may already be used to dealing with higher value transfers. The new FSCS limit gives you more space to move money into the UK and hold it there while you prepare the next stage.
The increase in protection makes it safer for you to store money in your UK bank account, but once your funds are secure, the next question is how to move them. Banks generally offer weaker exchange rates and slower payments. That is why many people switch to a specialist currency provider when they are ready.
You are free to keep your money safe in the bank for as long as you need, then use a dedicated FX service to get a better rate.
With the new rules in place, it is worth taking a moment to look at how your accounts are structured and how much protection you actually have. If you are holding a short term lump sum, check whether it falls under temporary high balance cover. It is also useful to time your transfer and decide whether waiting for a better market position could improve the final amount you receive.
A specialist currency provider can help you weigh up these decisions so you get the best possible value.
Under the new rules effective 1 December 2025, Financial Services Compensation Scheme (FSCS) protects up to £120,000 per person, per authorised bank/building society/credit union.
Yes. FSCS protection applies per authorised institution. If the banks are separately authorised, each offers its own £120,000 protection. If accounts are within the same banking group or licence, the limit may apply across them all.
Yes. For a joint account, FSCS protection applies per eligible person, meaning two people on the same account each get the £120,000 protection, totalling £240,000 for the account.
The increase in FSCS protection provides more confidence when planning to move money internationally. You can now hold larger balances in UK accounts without feeling worried, which makes the whole process stress-free.
Regency FX are a UK based independent currency broker, specialising in high volume transfers.
We pride ourselves on our premium level of customer service, you will be allocated your own personal account manager whom you will have direct access to.
All funds transferred through Regency FX are made using client segregated accounts in accordance with the FCA (Financial Conduct Authority) guidelines.
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