Saving

ifti

hi,

i have a account with ICICI bank, i am thinking with the banks struggling im worried they might just bail out and run off to india, i want to know is ok for me to keep this account running or shall i open a account with barclays instead with less intrest but at least its a british bank

i am in the process in opening with barclays but havent finalised anything yet

thanks in advance

talana

More paranoia about a bank. People do seem to love worrying, whether its rational or not.

- your money with ICICI is fully protected up to £35k just as it is with any other bank.
- why do you suppose they would "bail out and run off to India"?
- even if they did (and they won't) why do you suppose they would run off with your money?

i want to know is ok for me to keep this account running

Yes, it's ok to keep this account running! :rolleyes:

or shall i open a account with barclays instead with less intrest but at least its a british bank

If you want, but the fact it's a British bank is neither here nor there.

ifti

after the BCCI disaster im kind of worried

thanks for the reply btw

talana

BCCI was a totally different kind of bank and the disaster that befell it was a completely different situation.

Comparing BCCI to ICICI is like comparing giraffes to ferrets. Both animals yes, but that's where the comparison ends! :rolleyes:

ICICI are as safe a place for your money as any other bank, including Barclays.

ifti

thank you to everyone for there replies.

Crabman

Hi ifti, Martin has an article on this very subject - you're protected for up to £35,000 by the FSCS, full details here:

http://www.moneysavingexpert.com/savings/safe-savings

I've moved your thread over to the Savings & Investing Board