Your savings with Newcastle Building Society are protected up to £85,000 by the Financial Services Compensation Scheme (FSCS), ensuring peace of mind under the UK’s deposit protection scheme.
This limit is applied to the total of any deposits you have with Manchester Building Society (as a trading name of Newcastle Building Society) and Newcastle Building Society. Any deposits you hold above the £85,000 limit are unlikely to be covered. Further information on joint accounts can be found within the documents below.
View or download these useful documents for more info.
What is the Financial Services Compensation Scheme (FSCS)?
The Financial Services Compensation Scheme (FSCS) is your safety net for financial protection in the UK. If a bank, building society, or financial firm goes under and can’t pay what it owes, the FSCS steps in to help get your money back.
How does it work?
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Independent & trusted: The FSCS isn’t part of the government or financial industry; it’s here solely to protect you.
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Deposit protection: Your savings are secure, with up to £85,000 protected per person, per financial institution or up to £170,000 for joint accounts.
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More than just savings: The FSCS also covers investments, pensions, insurance, and mortgages, offering peace of mind across financial products.
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Legal backing: It was set up under the Financial Services and Markets Act 2000 and follows the PRA Depositor Protection Rules.
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If your financial provider ever runs into trouble, you don’t need to do anything. The FSCS will work automatically to get you compensated.
Are you covered?
Check if your money is covered? Visit FSCS.org.uk for all the details.