Your savings with Manchester 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.
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.
Financial Services Compensation Scheme (FSCS)
We’re a fully regulated UK bank, and your eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £85,000 per person. This means your money is safe and secure, giving you peace of mind while you save.
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 safe, with up to £85,000 per person, per financial institution covered (£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.
If your financial provider ever runs into trouble, you don’t need to do anything the FSCS will work automatically to get you compensated.
Do you want to check if your money is covered? Visit FSCS.org.uk for all the details.
fscs-information-sheet.pdf required on this page
Same guide on NBS - A Guide to the Financial Services Compensation Scheme