Savings Accounts - safe/safer/safest?

veronica46_2

can anyone advise me as to whether PO savings accounts are as safe as I have read? Obviously you cannot go with NR as their accounts for e-savers are closed.
I want to go for safety at a mid-rate rather than the top rate so any advice is welcome.
thank you
:hello:

Lokolo

Oh

My

Days.

I am so going to ban myself from this forum until people start action sane.

TomsMom

veronica46 wrote: »

Obviously you cannot go with NR as their accounts for e-savers are closed.

NR's website does say

We will be launching E-Saver Issue 2 shortly. If you would like us to email you when E-Saver Issue 2 is available, please register your interest below and we will contact you when the product is launched.

You could perhaps wait until it's launched if you feel you want that level of safety.

jamesd

NS&I are the safest, extremely closely followed by Northern Rock and then by the major Irish bank accounts, including that operated by the Post Office.

There's no need to sacrifice high rates. Just spread your money around a few banks paying high rates, keeping the amounts below the FSCS limit, so that all of it won't be involved in any takeover or FSCS payout at the same time.

veronica46_2

Lokolo wrote: »

Oh

My

Days.

veronica46_2

Lokolo wrote: »

Oh

My

Days.

I am so going to ban myself from this forum until people start action sane.

Ya think? Go on, punk! Make my day.
Or you can ban yourself until you learn to write a coherent sentence, dear.

veronica46_2

jamesd wrote: »

NS&I are the safest, extremely closely followed by Northern Rock and then by the major Irish bank accounts, including that operated by the Post Office.

There's no need to sacrifice high rates. Just spread your money around a few banks paying high rates, keeping the amounts below the FSCS limit, so that all of it won't be involved in any takeover or FSCS payout at the same time.

Hi i am currently in a bank with both a low interest rate and in the passport scheme for compensation- which i do not fancy too much- so any change may be better!But advice is great- thanks:money:

veronica46_2

TomsMom wrote: »

NR's website does say

We will be launching E-Saver Issue 2 shortly. If you would like us to email you when E-Saver Issue 2 is available, please register your interest below and we will contact you when the product is launched.

You could perhaps wait until it's launched if you feel you want that level of safety.

How long to wait until it is out please?

Baldur

veronica46 wrote: »

How long to wait until it is out please?

They have not stated - that's why potential savers are invited to register their interest in the product - see http://www.northernrock.co.uk/savings/online-accounts/

isofa

Why would you want to go for a "mid-rate" rather than a top rate?

jamesd

Northern Rock withdrew some accounts because they are limited to no more than 1.5% of the UK savings market. I wouldn't be waiting for them to introduce a new account at a good rate until many other banks have large deposit guarantees.

isofa, highest rates may indicate financial trouble and a desire to attract money from savers. Or not.