Whats with all the bank panic madness?

a7man

I come on here and read endless threads about fear of banks collapsing and spreading £35k into numerous accounts, its hilarious. Especially when people worry about their accounts with the 4 biggest banks in the country...relax people...

Lokolo

Unfortunately people just worry. Its human nature to worry to be fair!

a7man

Yeah I understand some worry but its gone over the top, especially when worrying if your money will be safe with HSBC...firstly the chance is minute and secondly the world will be in chaos if it collapsed so savings would be the last of your worries.

briona

a7man wrote: »

Yeah I understand some worry but its gone over the top

I couldn't agree more!

How many more "are my savings safe?'' threads does this board need?! And let's face it, if you really WERE that worried, would you honestly be taking advice from an internet forum?! Surely the majority of people on here are not qualified to answer this type of question!

It's easy to say "of course HSBC isn't going to fold", but it's worth noting that I'm a Graphic Designer and NOT a financial advisor!

pizzagirl

a7man wrote: »

I come on here and read endless threads about fear of banks collapsing and spreading £35k into numerous accounts, its hilarious. Especially when people worry about their accounts with the 4 biggest banks in the country...relax people...

That's the most sensible post I've read here in quite a long time. Well done

nzseries1

I agreed with you at first, then as soon as bad news started appearing about B&B (which I actually have some savings in) I got all paranoid and considered storing all my money under my matress!!

Maybe it's irrational, but that is human nature for you !!

Paul_Herring

briona wrote: »

How many more "are my savings safe?' threads does this board need?!

Sorry, your question was a little vague, could I ask for some clarification?

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Did you mean today? This week? This month? Before the next election? Before the end of the world?

What might be a right answer for you may not be a right answer for someone else.....

HTH

Jonbvn

Human beings are irrational. What is driving this (and all other) market is your traditional fear & greed.

Patmoore

Of course people are worried but the thing is, to get the top interest rates on your savings you'll probably be with a bank that isn't a top 4 bank.

I could make 2.9% more interest shifiting some of my money from HSBC to Kaupthing, however I don't know what kind of naughty things they have got upto.

isofa

I've posted about this over and over again, the "panic we're doomed" and "is my money safe in xys bank" threads drive me up the wall.

That along with the media hype of that stupid term "the credit crunch" which lazy journos use to blame everything from the price of a load of bread to house prices in Spain.

Living life is a risk, deal with it, the second you get out of bed, you a risking your life, you might fall over and break your neck, you might fall down the stairs, you might get hit by a bus.

The chance of losing any savings is minute, I am certainly not worried at all.

Jonbvn

isofa wrote: »

I've posted about this over and over again, the "panic we're doomed" and "is my money safe in xys bank" threads drive me up the wall.

That along with the media hype of that stupid term "the credit crunch" which lazy journos use to blame everything from the price of a load of bread to house prices in Spain.

Living life is a risk, deal with it, the second you get out of bed, you a risking your life, you might fall over and break your neck, you might fall down the stairs, you might get hit by a bus.

The chance of losing any savings is minute, I am certainly not worried at all.

Stop being rational!;)

We all want to run round like chickens with their heads cut-off screaming "We're all doomed!":eek: