We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
Egg ISA - Stay or Go ?
dial8d
Posts: 48 Forumite
Hi all
Currently have my £3600 in an Egg ISA account. My intention was to leave this in there, and then put further monthly savings into Kaupthing Edge. The idea was for this to be an emergency fund should the worst happen with my job.
Although I understand that savings in the Egg ISA, and any future savings in KE are protected, im concerned about how long it might take to actually get access to the savings should the worst possible scenario occur, and Egg (eg Citigroup) or KE suddenly emerge as another victim of the current chaos.
Im considering pulling the money out, and maybe putting it into Northern Rock esaver and/or NS & I instead, ok...sacrificing interest, but hopefully guaranteeing access to my savings.
Over-reaction, or sensible ? Please bear in mind that I am the main earner in this household, and I work for a large financial institution whose position is quite uncertain at the moment.
Currently have my £3600 in an Egg ISA account. My intention was to leave this in there, and then put further monthly savings into Kaupthing Edge. The idea was for this to be an emergency fund should the worst happen with my job.
Although I understand that savings in the Egg ISA, and any future savings in KE are protected, im concerned about how long it might take to actually get access to the savings should the worst possible scenario occur, and Egg (eg Citigroup) or KE suddenly emerge as another victim of the current chaos.
Im considering pulling the money out, and maybe putting it into Northern Rock esaver and/or NS & I instead, ok...sacrificing interest, but hopefully guaranteeing access to my savings.
Over-reaction, or sensible ? Please bear in mind that I am the main earner in this household, and I work for a large financial institution whose position is quite uncertain at the moment.
:j 2009 MFW Challenge (No 219) - Overpayment to date £7500)
Mortgage @ 01-01-09 - £158499 :eek: @ 1.7.09 - £150999:j
0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.3K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.3K Work, Benefits & Business
- 604K Mortgages, Homes & Bills
- 178.4K Life & Family
- 261.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards