Saving with kauphting and BMS

cheekykid

Is Birmingham Midshares less likely to go bust than kaupthing edge? I remember there was a list showing the icelanding bank first on the list which would theoretically mean more likely to go bust.
I have decided to deposit 50k into kaupthing out of fear of the institution going out of business and the rest of it (150k) to BMS. I just want to make sure they are in a better financial position and therefore less likely to go bust.

You reckon an offshore bank gives at the end better returns than kaupthing or BMS?

thanks

nzseries1

By "The list", do you mean "The list of banks most likely to go bust"? Is there such a list?

As Martin says, it's impossible to say which bank would go bust, and it's also irresponsible. He says Northern Rock did not have great problems, however after rumours spreading panic insued, and this caused a run on the bank.

cheekykid

nzseries1 wrote: »

By "The list", do you mean "The list of banks most likely to go bust"? Is there such a list?

As Martin says, it's impossible to say which bank would go bust, and it's also irresponsible. He says Northern Rock did not have great problems, however after rumours spreading panic insued, and this caused a run on the bank.

There was a listing indicating a BPI figure or something of that sort and it had kaupthing on top with 850 something figure.

10_66

To be on the safe side, it's better if you limit your savings per institution to the £35K that's protected by the FSCS.

Steve_xx

I think it would be prudent for you to split your deposits into 33k lots This allows for interest to accumulate at 6% over a year which would bring the totals in each account up to the 35k protected limit.

oldfella

BMS is part of HBOS

suggest you limit investment in HBOS to 35K

jennifernil

If HBOS goes bust then is it not the "end of the world" as we know it?

It certainly cannot be good!

opinions4u

jennifernil wrote: »

If HBOS goes bust then is it not the "end of the world" as we know it?

It certainly cannot be good!

£200bn in savings balances at HBOS where over 75% are protected by the FCSC.

The FCSC which has £4bn in the coffers.

We're all doomed if HBOS goes! Not just the customers of HBOS.

If my maths is right, an income tax rate of 100% for a year would just about cover the liability if the state picked up the bill. Which may have one or two other economic side effects!!!!!!

cheekykid

Basically am looking for the next best saving account to put my money in. Bradford & Bringley or BMS?