Natwest account

RichardJW1

Hi,

I am abroad at the moment (working in some pretty remote parts) and just saw the news about HBOS etc takeover firstly on the yahoo log-in site......to say I was in a panic is putting it mildly because I have 180,000 in a Natwest account that I am about due to tie away in a 2 or 3 mth bond, literally this was my next move to call and confirm......now I don't know what to do.....I scanned down thru the various posts on this page (and other sites), can anyone confirm now that with the TSB take-over the panic over losing savings has subsided....or is it still a risk?

Sorry for the dull question, but can someone clarify?

thanks

robnye

well, the risk is if natwest goes belly up, you will only get £35k max back,
some people recommend spreading any investments so that you have several pots of £35K or less.
as to whether the market is stabilising... unfortunataly mine and professional financial advisors crystal balls have become rather misty....

nilrem_2

RichardJW1 wrote: »

Hi,

I am abroad at the moment (working in some pretty remote parts) and just saw the news about HBOS etc takeover firstly on the yahoo log-in site......to say I was in a panic is putting it mildly because I have 180,000 in a Natwest account that I am about due to tie away in a 2 or 3 mth bond, literally this was my next move to call and confirm......now I don't know what to do.....I scanned down thru the various posts on this page (and other sites), can anyone confirm now that with the TSB take-over the panic over losing savings has subsided....or is it still a risk?

Sorry for the dull question, but can someone clarify?

thanks

Natwest or any other UK bank would not be allowed to go bust, if it did the then the lack of confidence in the banking system would be so drastic that the whole monetary system would collapse, the £35,000 guarantee would be worthless in that scenario!

Just relax and take no notice of all the scaremongers, lot's of people are losing money through loss of interest by desperately moving their cash about unnecessarily, some people are even keeping their savings in their houses rather than 'risk' keeping it in a bank, the chances of them losing it to a burglar are 1000 times more likely than losing their savings from a bank crash.

IMHO the Media have a lot to answer for causing people to panic unnecessarily.