Where now for safety?

pawpurrs

The e saver account (that is now closed to new members, new one out shortly) had a maximum deposit IIRC of £250k so I pressume you are protected up to that amount, is that correct?

pawpurrs

What about old fashioned BS such as Nationwide, what are you protetected for in their accounts?

baileysbattlebus

Snooze wrote: »

Really? And you know this how, exactly? Have you tested it? I fear not. I fear that you have read the T&Cs and read the part where it says "if we go tits up you'll get all your money back" and that's it . I would be interested to see how exactly "they" pay you your money back when they've gone bankrupt and - the rate things are going - when the country goes bankrupt too.

Yep, good luck with that one.

Rob

NS&I are a government savings scheme, I think they used to be the old national savings bank - they also operate the premium bond scheme - so your money is actually safer than any where esle at the moment - unless the government can't pay out - which is highly unlikely - they will just print more money or raise taxes or both.

BTW, money is pouring into NS&I at an unprecedented rate - and has been since Northern Rock - I wonder why?

baileysbattlebus

pawpurrs wrote: »

What about old fashioned BS such as Nationwide, what are you protetected for in their accounts?

Same as the banks - £50k

misskool

Hi, Martin’s asked me to post this in these circumstances: I’ve asked Board Guides to move threads if they’ll receive a better response elsewhere (please see this rule) so this post/thread has been moved to the savings and investments board, where it should get more replies. If you have any questions about this policy please email abuse@moneysavingexpert.com.