Could Kaupthing Edge be the next Rock?

Well, if such people feel uncomfortable, there's a range of high-interest instant access savings accounts and fixed deposit accounts on offer at the moment - just spread your money across different institutions if you're at all nervous.

Put it all into the Nationwide - IMPO probably the safest UK bank today other than the Rock.

Of course, do so at your own risk. Personally, I think we are in dangerous waters and the big worry is whether to spread the money around and hope to be covered by the FSA but risk putting savings into risky banks... or putting it all into one or two hopefully more secure banks.

tawse57 wrote: »

and the big worry is whether to spread the money around and hope to be covered by the FSA but risk putting savings into risky banks... or putting it all into one or two hopefully more secure banks.

Quite. Having consolidated the bulk of my money in ICESave over the last 12-24 months I definitely got the jitters when NR got into trobule. So started process of spreading. Opened up with ICICI. No particular worries there. Opened up with Brad & Bing, and went close to the FSA max...great move, B&B then went onto the 'dodgy list'. Also opened with A&L recently, (though not put money in there yet) only to find they are the next to be considered dodgy, and deposited with Anglo Irish (only to find about 1 day later the article that suggested that Irish banks, and Anglo Irish in particular, were on the more suspect list, aftter of course B&B and A&L..... Scary. But I still think better to spread than have all your eggs in one basket - unless its a Lloyds etc.,. but penalty of bad rates.

Well call me cynical, but I believe a fair amount of the current news warnings that come out recently have more to do with keeping money in the homegrown banking system rather than it going to overseas banks.
I readily acknowledge that there is often no smoke without fire, but it would be my contention in the current financial climate that there are very few banks that are "safe"
The media loves to feed on this sort of fear, it's their bread and butter sadly. I have little doubt that there will be casualties in the banking sector worldwide over the coming months and people will do themselves little favour fretting over who the axe will fall on, because there is inadequate transparencey in the banking system to make any reliable informed decision. Imho people are best to spred their money amngst a handful of banks and let it go at that, whatever probs the banks have gotten themselves into, the cards have been dealt by now and only time will tell.