The Financial Services Compensation Scheme (FSCS)

Your eligible deposits with Newcastle Building Society are protected up to a total of £120,000 by the Financial Services Compensation Scheme, the UK’s deposit protection scheme. This limit is applied to the total of any deposits you have with Newcastle Building Society and Manchester Building Society (as a trading name of Newcastle Building Society). Any deposits you hold above the £120,000 limit are unlikely to be covered. Further information on joint accounts can be found within the documents below.

View or download these useful documents:

• Financial Services Compensation Scheme Information Sheet (PDF, 1.54MB)
• Leaflet: A Guide to the Financial Services Compensation Scheme (PDF, 737 kB)

What is the Financial Services Compensation Scheme (FSCS)?

The Financial Services Compensation Scheme (FSCS) is the UK's deposit protection scheme of last resort for customers of authorised financial services firms.

It is impartial and independent of the Government and financial sector and was set up under the Financial Services and Markets Act 2000. The FSCS may be able to pay compensation if a firm is unable, or likely to be unable, to pay claims against it. 

All UK building societies are participants in the Financial Services Compensation Scheme established under Part XV of the Financial Services and Markets Act 2000. The Scheme is administered by the Financial Services Compensation Scheme (FSCS). The Scheme is governed by PRA Depositor protection rules.

Please visit the FSCS website for further information.

Why has the Protection Limit increased?

From 1^st December 2025, the FSCS limit was increased from £85,000 to £120,000, per UK-authorised firm. The protection limit of £85,000 had been in place since 2017 and has been increased to reflect the latest inflation data and provide certainty that more of savers money is protected. A review takes place every five years to ensure that the limits remain relevant.

What does this mean for me?

The new limit means if your bank, building society, or credit union fails, you will be reimbursed up to £120,000 per eligible person, per authorised firm. Any total deposits you hold above this limit are unlikely to be covered.