Save with The Cambridge and your money will be in safe hands
PUBLISHED: 13:11 14 July 2017 | UPDATED: 13:11 14 July 2017
When looking for a place to keep a nest egg, it’s important to know that the money is protected and will work hard for you.
First-time customer Anne Garrod recently opened a savings account with The Cambridge Building Society after doing some online research into where to invest some money.
Living in Swavesey, Anne visited her closest branch, at Bar Hill, where she spoke with customer service adviser Ali Dover. She opted for a 2 Year Fixed Rate Bond, which can be opened in branch, over the phone or by post.
“I was initially attracted to the interest rate and the fact that there was a branch local to me,” said Anne. “It was very relaxed and friendly. I was pleased with how easy it was to open an account.
“I already use internet banking and like the fact that technology was used to make the process of opening an account easier.
“After an initial chat in branch, I got a phone call with a security code and a reference was texted to me. It was very simple and avoids having to repeatedly go in to see someone.”
Anne isn’t saving for anything in particular but, like many customers, just wanted a good return and a trusted place to keep her savings.
As a mutual building society, all The Cambridge savings accounts are protected under the Financial Services Compensation Scheme (FSCS).
Head of compliance Janet Reid explained: “The FSCS applies to all financial services firms that have been authorised by the Financial Conduct Authority or the Prudential Regulation Authority to do business in the UK.
“It’s basically a safety net for customers to protect their money if the firm goes out of business. Clearly, having been around for 167 years, we’re not expecting to go anywhere, but it’s important for our customers to be reassured that they are protected up to £85,000 per individual.”
* For more information pop into a branch or call the Cambridge-based Customer Contact Centre on 0345 601 4021. Lines are open Mondays to Fridays 8.30am-8.30pm and Saturdays 9am-5pm.