Thinking of changing Banks with my Cash isa

eeeeen

Thinking of changing my cash isa over from one Bank to another,
with whats going on within the Banking industry, I just wondered if the bank I am changing over from goes Bang during a changeover, what happens and are you still protected, how does that work as there always seems to be a delay.
Its Just a thought any advise would be greatly recieved
Thanks in advance

eeeeen

Anybody got any answers for this subject please

Primrose

Quite honestly, with all the turmoil going on in the banking sector, I think anybody trying to switch accounts or ISAs is asking for trouble. The next few weeks and months are going to see massive internal administrative changes going on within the merged banks, and massive redundancies too probably. This means that a lot of eyes within the internal banking system & administration are going to be taken off their balls, and I suspect this is going to result in very poor customer service and delays as a result because of all the distractions. If your ISA is not with Abbey & Alliance & Leicester who are merging, or HBOS/Lloyds who are merging, you may be OK.. Who is your ISA with ?

trashcan_2

I was just about to transfer my Isa, but now I have decided not to. I will wait to the markets settle down. Mine is in the Nationwide and I have a little over the £35000, But I think it's safer there then in a higher perscentage and higher risk one. But who really knows?

eeeeen

Thanks for your reply iam with A & L that I can access on line, thinking of going to co-op if they would accept my application, as I have invested this years allowence in full, I also have a morgage with the co-op and a current account