You can make your initial deposit by electronic transfer from your bank or building society.
Your bank or building society will require the following information:
- Sort code: 23-59-54
- Account number: 00000008
- Reference: Your new Newcastle Building Society account number / reference number.
- Beneficiary: Please quote ‘Newcastle Building Society’ (in the payee field). When you attempt to make a payment to your savings account with us for the first time you may receive a warning message from your bank or building society. Some examples of the warning messages you may receive might be no match or unavailable. This means your bank have not been able to check the name of the account holder for the payment you are attempting to send and this is because we are not currently part of the Confirmation of Payee scheme. However, if the details you have provided are correct, this will not prevent your deposit reaching us.
Your account opening balance
Please ensure you refer to the Product Terms and Conditions for the minimum opening deposit required. Any amount below this will be rejected and returned to the source account within 1-2 working days.
If any of the above information, including your reference is missing or incomplete the payments may be sent back to your bank and not credited to your Newcastle Building Society account.
Or, please send us a cheque made payable in your name(s) quoting your Newcastle Building Society account number.
What is Confirmation of Payee?
This is a service being launched between the largest UK banking groups (Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, Royal Bank of Scotland Group and Santander UK). This service has been designed to help protect payments from scams, fraudsters and payments going to the wrong account by checking the name in your payment instruction with the name of the account where the payment is to be sent, helping to make sure you’re paying the right person.
We see the value in this new scheme and are keen to participate as soon as the scheme is able to support more banks and building societies.
Sending payments to us
As we are unable to participate in the scheme at this time, when you attempt to make a payment to us for the first time you may get a response from your bank informing you that the name does not match, or is unavailable, due to the provider of the account you are attempting to send money to not being a member of the Confirmation of Payee scheme.
Until the scheme is extended we will unfortunately not be able to provide a name match response to your bank.
As always, we encourage you to double check the details you enter are accurate when moving money, including when sending payments to us.