Where To Put Savings!!!

zx2011

Bradford and Bingley's savings division is now part of Abbey. If you have accounts with both B&B, Cahoot and Abbey you are only covered up to £50,000.

zx2011

A&L is due to be taken over by Banco Santander by the end of this week. A&L has it's own banking licence so everyone will be covered up £50,000.

This may change in the future if A&L is integrated into Abbey/Bradford and Bingley.

Stavros_3

Lokolo wrote: »

LOL I can only laugh at that

Why laugh?, they are the safest place, if your losing sleep, don't forget the Irish banks though

vixenlouis

I think its time to back in the mattress !!!

tonytsdiver

Other than Northen Rock and NS&I I wouldn't trust any bank at the moment. This compensation scheme in place, now at 50 k for most banks and the Irish 100 % guarantee, is in place only to deter you from withdrawing your cash. No compensation scheme could cope with a bail out of all the savings in the banks. I think by tomorrow morning we will will see a blanket 100% compensation scheme in place in the UK but in reality it will change very little. No one can stop this crisis and it will run it's own natural course.

Stavros_3

Woodyrocks wrote: »

Do I need to worry about my money in YBS (quite a bit but once again under £35K).

Your fine, your are well under the 'safety net'. Although the newby doom and gloom brigade will be along shortly to say were all doomed.
P.S Its now 50k not 35k

tonytsdiver

Stavros wrote: »

Your fine, your are well under the 'safety net'. Although the newby doom and gloom brigade will be along shortly to say were all doomed.
P.S Its now 50k not 35k

' They don't like it up em Mr Manwearing ' these safety net boys

Short_Seller

I would bother doing anything if your with a UK bank as from tommorrow their will all be part nationalized if the current plan being put in place gets the go a head...

floppity

I believe that YBS is still a mutual therefore outside all of this banking mayhem - is that right?