Money basics
Everyday money explained: debit and credit cards, how inflation affects cash, what changes when money is invested rather than saved, and how to check a firm and complain if something goes wrong.
Tax year 2026/27 · key figures
- FSCS deposit protection
- £120,000
- Per eligible person, per authorised bank, building society or credit union, from 01/12/2025 (it was £85,000 before). Includes cash ISAs.
- FSCS investment protection
- £85,000
- Per eligible person, per firm, for authorised investment firms that fail after 01/04/2019. It does not cover falls in the value of investments.
- Section 75 cover (credit cards)
- Over £100 and up to £30,000
- The cash price of a single item or service bought at least partly on a credit card or with certain point-of-sale credit.
- Personal Savings Allowance
- £1,000 / £500 / £0
- Tax-free savings interest for basic, higher and additional rate taxpayers respectively.
Sources linked on each guide. Checked 22/09/2026. Rules can change and depend on your circumstances.
Guides
- Debit cards and credit cardsWhat is the difference between a debit card and a credit card?A debit card spends money already in your bank account, while a credit card borrows money that has to be paid back, often with interest. They also give different protection when something goes wrong with a purchase.Read the guide →
- Cash savings and inflationHow does inflation affect cash savings?Inflation means prices rise over time, so the same amount of money buys less. If the interest on savings is lower than inflation, the buying power of that money falls even though the balance goes up.Read the guide →
- Investing and savingWhat changes when you invest instead of save?Saving usually means keeping money in cash accounts where the balance does not fall, while investing means buying things such as shares, bonds or funds whose value can fall as well as rise. The two also differ in protection, costs and how long money is usually held.Read the guide →
- Checking a firm and avoiding scamsHow can I check a financial firm and protect myself from scams?Almost all UK financial firms must be authorised by the FCA, and the FCA Firm Checker and Financial Services Register show whether a firm is. If something goes wrong, the Financial Ombudsman Service handles complaints and the FSCS can pay compensation when an authorised firm fails.Read the guide →
This is information, not advice. For free, impartial guidance, MoneyHelper (backed by the government) can help; for a personal recommendation, speak to a regulated financial adviser.