Manchester BS

Who they are

Manchester Building Society was founded in 1922 , giving it over a century of history in the North West. On 1 July 2023 it merged with Newcastle Building Society, and today Manchester BS operates as a trading name of Newcastle Building Society , sitting within a larger mutual group while keeping its Manchester identity and community roots.

That last point matters practically for savers. Your eligible deposits are protected up to a total of £120,000 by the FSCS, and that limit applies to the combined total of any deposits you hold with both Newcastle Building Society and Manchester Building Society. So if you already save with Newcastle BS directly, both pots count toward that single limit - worth keeping in mind if your savings are substantial.

Newcastle Building Society, the parent entity, is authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority.

Savings accounts

Manchester BS currently offers a Regular Saver, which is designed for people who want to build a savings habit by putting money away each month. It pays a variable rate of 5.40% and allows instant access, so you are not locked in if your circumstances change. There is no minimum balance required to open the account.

That combination of a competitive variable rate and instant access is relatively unusual in the regular saver market, where many providers impose notice periods or penalties for withdrawals. As always with variable-rate accounts, the rate can move up or down over time, so check the live figure on this page before you commit.

No current switch offers

There are no current account switch incentives or sign-up bonuses attached to Manchester BS savings products at the time of writing. That is not unusual for a building society focused on straightforward, member-first savings rather than short-term promotional deals.

Is it right for you?

Manchester BS suits savers who want to build a regular savings habit and would value the reassurance of a mutual, community-focused institution with a long history. The instant-access Regular Saver removes the worry of needing to lock money away, which makes it a reasonable option for a short-term goal or an emergency fund you are actively topping up.

The one thing to watch is the shared FSCS licence. If you already hold savings with Newcastle Building Society, your combined deposits across both brands share the £120,000 protection limit rather than each getting a separate £85,000 allowance. For most people that will not be an issue, but it is worth a quick check before opening an account.

As rates can change at any time, always compare the live figures shown on this page to make sure Manchester BS is still the right fit for your money.