A common rule of thumb is three to six months of essential spending in easy-access cash, more if your income is irregular. Deposits are protected up to £120,000 per person per banking licence by the FSCS, so larger balances are safer spread across separately licensed banks.
Last reviewed 6 October 2026 · rules version rules@2026-10-06#25 · FSCS
See how many months your cash covers and whether any of it sits above the FSCS protection limit.
Questions
Where should an emergency fund be kept?
In easy-access accounts covered by the FSCS. Brands that share a banking licence share one limit.