Halifax Question

esbo

hsvqbutr wrote: »

Well after driving through town about 40 mins ago and seeing a line of people at the Halifax cash machine I think Im well justified in being concerned for my hard earned and saved cash. I will be showing my backbone in the que for it tomorrow morning.

The unsecured amount is £35,000, I doubt it would allow you to withdraw so much money and I doubt it would be safe to do so in public.

dunstonh

tubbylala wrote: »

I know nothing about finances, but my sister was left £300,000 when her husbad was killed in an accident at work (she is only34) last year

she went to her bank which is Halifax and they advised her to put in all into stocks and shares through them

she now gets the interet paid to her every 3 months, which is the money she uses for her shopping/bills etc

after hearing on the news today about hbos, i am now worried about the money she has invested through this bank

will she be ok, or should she try and take it out - is that possible when it has all been put in stocks and shares - or should she just not worry about it

i would be very grateful for any advice

thankyou

Investing that sum with a tied salesforce from a bank was crazy. Picking Halifax was a bad move. She should see an IFA as soon as possible to get some real financial advice. They can advice her after finding out what she has. Almost certainly it will contain unit linked funds and they have greater protection so that side of things isnt a problem. I wouldnt be concerned with FSCS protection. I would be more concerned about quality.