The Financial Services Compensation Scheme (FSCS) has extended its protection for temporarily high balances from six to 12 months, to further protect against deposit-taker failures during the pandemic.
Temporarily high balances or THBs are deposits of up to £1 million resulting from certain major life events including money deposited in preparation for buying a main residence, money paid in relation to a divorce or dissolution of a civil partnership, a redundancy payout, and c...