Savings Accounts - safe/safer/safest?

veronica46_2

isofa wrote: »

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

Because top rate can be risky savings!

Ideally- I would like 75% AER in the Bank of Utopia issue 5.......(tax free)


But I will open a P.O account instead....

dannyboycey

veronica46 wrote: »

Ya think? Go on, punk! Make my day.

Not only is everyone running round like headless chickens, swapping money round from bank to bank for no apparent reason, people have now reverted to using 1980's style slang phrases.

I think I'll try and find another forum for a few weeks until the fools have gone away and normal service resumes.

isofa

veronica46 wrote: »

Because top rate can be risky savings!
Ideally- I would like 75% AER in the Bank of Utopia issue 5.......(tax free)
But I will open a P.O account instead....

So a top rate fixed rate fully covered by the FSCS scheme is more risky than saving your money with the PO? Is that because Ireland have the most stable economy in the World? Curious...

You can easily beat the poor PO rate with all manner of UK banks, and if you ignore the hype at Iceland, you can get a great rate there too, protected.

veronica46_2

isofa wrote: »

So a top rate fixed rate fully covered by the FSCS scheme is more risky than saving your money with the PO? Is that because Ireland have the most stable economy in the World? Curious...

You can easily beat the poor PO rate with all manner of UK banks, and if you ignore the hype at Iceland, you can get a great rate there too, protected.

I am not trying to be clever and i am certainly not foolish.
Just asking around, i though this is what the forum was for....
Can we not just discuss this without inferring stupidity on those who ask?

veronica46_2

dannyboycey wrote: »

Not only is everyone running round like headless chickens, swapping money round from bank to bank for no apparent reason, people have now reverted to using 1980's style slang phrases.

I think I'll try and find another forum for a few weeks until the fools have gone away and normal service resumes.

Trolls and flamers here:
Why bother to reply if you have nothing non-abusive or to say?
Have you nothing better to do?
No one here is"swapping money from bank to bank for no apparent reason".

No one is a fool because they wish to change my savings account once in a blue moon .
The word "fool" is used over and over here which is utterly arbitrary and a bit mad.
Does it make you feel omnipotent to be totally negative and utterly discourteous on an internet discussion thread ?

Makes you look really clever.......
Like road rage .

Thank you to those 2 or 3 who answered carefully and sensibly.
Too much flaming and trolling here these days.
Sadly, because people like Baldur are brilliantly helpful and their advice is excellent.

dannyboycey

veronica46 wrote: »

Trolls and flamers here:
Why bother to reply if you have nothing non-abusive or to say?
Have you nothing better to do?
No one here is"swapping money from bank to bank for no apparent reason".

Veronica, as the institutions mentioned here are all backed by a deposit guarantee up to 35k, soon to be 50k, they are evidently safe. If you have substantially more than 50k, it would obviously be wise to spread the cash accross different institutions, but it is common sense to spread investments anyway, crunch or no crunch (eggs... baskets etc.)

I simply don't get all the panic-fuelled threads asking "is my money safe". Even if you are in the minority, and unaware of the guarantee scheme, a little digging around would serve you a lot better than starting yet another thread of which there are frankly too many. They are not helpful in any way, and just serve to put needless fear into people.

BTW, without wishing to be pedantic, before referring to 'trolls' and 'flamers', may I refer you to your own post (the 6th one down) on this very thread. Sorry.

isofa

veronica46 wrote: »

I am not trying to be clever and i am certainly not foolish.
Just asking around, i though this is what the forum was for....
Can we not just discuss this without inferring stupidity on those who ask?

No one was inferring stupidity - so if you've taken that from my thoughts, so be it. I certainly won't be bothering to respond to your posts again.

I just don't know what this forum has come to.

veronica46_2

dannyboycey wrote: »

Veronica, as the institutions mentioned here are all backed by a deposit guarantee up to 35k, soon to be 50k, they are evidently safe. If you have substantially more than 50k, it would obviously be wise to spread the cash accross different institutions, but it is common sense to spread investments anyway, crunch or no crunch (eggs... baskets etc.)

I simply don't get all the panic-fuelled threads asking "is my money safe". Even if you are in the minority, and unaware of the guarantee scheme, a little digging around would serve you a lot better than starting yet another thread of which there are frankly too many. They are not helpful in any way, and just serve to put needless fear into people.

BTW, without wishing to be pedantic, before referring to 'trolls' and 'flamers', may I refer you to your own post (the 6th one down) on this very thread. Sorry.

Sorry? I will take that to mean in the best sense and appeal to your better side.
Actually, you made me feel needlessly fearful......
A very mild non-abusive joke when someone slanders another, hardly flaming.
I posted here for information, not abuse which seems to have sprung up for no apparent reason.
Your last post was appallingly offensive ! Wow! Maybe you don't realise that a sentient human being is reading such posts. Or maybe, it is becoming de rigueur on this forum.
I asked a perfectly sensible and non-inflammatory question after reading a very contemporary report on the P.O. which, incidentally offers a pretty fair rate of interest given the current clime.
I have in no way imputed that all other banks are going to crash. That is something you have inferred for your own reasons and is clearly a ludicrous supposition.
If people are fearful that is not something I can say I have added to by asking about the status of a savings account!
People are fearful anyway, that is the human condition, and that is why people resort to a cycle of abuse and paranoia.
One could say that the current financial crisis is an example of this phenomenon, a by-product of corrupt and archaic systems of control and manipulation.
Or, one could say the current panic has been deliberately incited by media speculation and is yet another example of such manipulation in action.


Incidentally, Dirty Harry ( from which I quote, very badly) is a 1970's film and fine example of such paranoia made cinematically manifest.

To the Point:

Anyone who is actually interested in a P.O savings account and does not want to post here ( and who can blame them?) and has not died of boredom at this threads non-topicality may like to look at this link in an unprejudiced and informal way.
http://www.money.co.uk/article/1001578-post-office-benefits-from-flight-to-safety.htm

veronica46_2

isofa wrote: »

So a top rate fixed rate fully covered by the FSCS scheme is more risky than saving your money with the PO? Is that because Ireland have the most stable economy in the World? Curious...

You can easily beat the poor PO rate with all manner of UK banks, and if you ignore the hype at Iceland, you can get a great rate there too, protected.

Iceland really looks the place to be.......if I want to get burned on the Ice.
But thanks - I see you are trying to be helpful.