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HBOS - what's happening?
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If it were a matter of a "few hundreds" (sic) then I wouldn't have bothered. I'm well aware of the so-called 'guarantee' up to £35k (which, as others have pointed out, hasn't been tested yet) - it's the the bit over £35k that bothers me. With the alarm bells ringing the way they were yesterday I had to try to protect myself. Yes, it was panic and I'm still not relaxing until I can find somewhere a bit safer than the foreign bank where my savings currently reside. Not easy these days though is it ?
Anyone got any suggestions - apart from NS&L? or anything on-line? I need to spread and with all these mergers etc it's becoming difficult.
Northern Rock eSaver.
6% APR, instant access, all done via Web.
(And underwritten by the taxpayer. Darling promised.......)--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Thanks but I don't really want to use internet banking - it seems far too vulnerable and unreliable and particularly difficult to operate when things get "busy". I had a good read of some of the terms & conditions of some of these yesterday and it didn't inspire any confidence.0
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Thanks but I don't really want to use internet banking - it seems far too vulnerable and unreliable and particularly difficult to operate when things get "busy". I had a good read of some of the terms & conditions of some of these yesterday and it didn't inspire any confidence.
If you have a sizeable amount of cash then the alternative is to stand in a very long queue outside a branch and take a banker's draft which may or may not be valid by the time you cash it.
At least with internet banking if you can stay ahead of the game you have a chance of getting in there quick and transferring the money out, maybe even next-day transfer.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
Good point - thanks. Oh well, another day trawling the internet and losing weight I can't afford to lose ...0
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If it's any help, Northern Rock is government-guaranteed. It's also offering good rates, and the staff are very nice to people indeed! Nationwide is also pretty stable. It has received in more funds than it knows what to do with, and its customer service has suffered, I hear.
I went for Northern Rock.
HBOS shares have had a day's range of 80p-220p, but are currently at about 170p, which is where they started the day.No reliance should be placed on the above! Absolutely none, do you hear?0 -
Thanks for that. What I don't understand about the on-line accounts is that nothing seems to work any quicker than with a face-to-face or telephone account. Reading the Ts&Cs of the B&Bs on-line account it says transfers take 3 working days if requested before 12:00! So unless you made a request on a Monday or Tuesday it would actually take a lot longer. Wednesday after 12:00 = following Tuesday! I'm sorry but I think that's a bit much. But what can you do?0
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Thanks for that. What I don't understand about the on-line accounts is that nothing seems to work any quicker than with a face-to-face or telephone account. Reading the Ts&Cs of the B&Bs on-line account it says transfers take 3 working days if requested before 12:00! So unless you made a request on a Monday or Tuesday it would actually take a lot longer. Wednesday after 12:00 = following Tuesday! I'm sorry but I think that's a bit much. But what can you do?
Many banks are now offering next-day transfer on their current accounts. I don't imagine they would be rushing to do the same for savings accounts though.
To me the key thing is that the moment you get wind that something bad is happening you can go to the website and make the transfer. If you are lucky you can get onto the website before the wider public reacts and the site goes down.
Otherwise you'll probably hear about it on Friday evening, worry about it all weekend and join the long queues on Monday morning.--
Every pound less borrowed (to buy a house) is more than two pounds less to repay and more than three pounds less to earn, over the course of a typical mortgage.0 -
To be fair, I don't really believe that HBOS is going to fail. In my case, it was a zero cost move, as Northern Wreck is offering significantly more interest than Shabbyfax. Also HBOS failing is a risk, however small, that I simply don't need to take. Indeed the Wreck are paying me not to take it.No reliance should be placed on the above! Absolutely none, do you hear?0
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Oh, incidentally, I made a formal complaint to Halifax about an aspect of their service. They took nearly 5 months to reply. My wife had a problem over her ISA, taken out in April, and they took until August to sort that out. I don't need the hassle.No reliance should be placed on the above! Absolutely none, do you hear?0
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can someone explain to me please im not really up on all this kind of stuff, we have a mortgage promise from halifax are we basically stuffed now?0
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