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Are Building Societies a Safer bet?

marcyj_2 · 2008-10-08 11:55:17

I have always (rightly or wrongly) regarded building societies as being a safer bet then banks because they have more rigid regulations about how much and where money can be invested and its customers are also share holders and have to be answered to. For this reason I have been with Scarborough (formerly Portman) for many…

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bazster Posts: 7,436 Forumite

15 October 2008 at 12:57PM

marcyj wrote: »

That's great for you nilrem but I live in Guernsey where there is no protection and my money is with the Channel Islands branch of Scarborough BS. Not sure what to do to be honest. I was thinking of jumping the gun and accepting a pathetic rate at HSBC.

Any reason why you can't open an account with a mainland bank or BS?

Je suis Charlie.
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Are Building Societies a Safer bet?

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