Icesavers - where will your money go now?

Gambler

My first direct offset.

pem2

MrExample wrote: »

Irish banks look pretty attractive at the moment.

True Irish banks do look attractive but there is a suggestion that their economy is not much better than Iceland even with their 100% protection. At the moment none of us have lost anything in Icesave & KE other than stress but it's early days yet.

moanymoany

Pitlanepiglet wrote: »

I'm not sure that this post is really relevant to this thread is it?
quote]

'I have most of my cash in NS&I - we decided to go for security rather than speed!'

The rest was opinion!

DocMartin

Bromley86 wrote: »

ING, I think. The logic is that we have a mortgage with them that is greater than our savings (unsurprising really, as the savings came from an over-mortgage ). So if we bank with them and they go under, we won't have to bother trying to reclaim the deposit as it'll be offset against the mortgage.

At least, that's my assumption. I posted a question about this earlier, but it sunk without a trace as people have bigger things to consider .

I didn't have money in Icesave but I have reluctantly transferred my savings to mymortgage provider for the same reason. I say reluctantly because I'm in no particular rush to pay off my mortgage (I have reasons) but if the worst did happen I'd rather reduce it than lose the savings and still have the debt.

Like you I don't know if this is entirely sensible but it just seems the best thing to me right now

Plasticman

Nowhere seems to be safe, so I'm going to SPEND SPEND SPEND :j

sheslookinhot

I may put my savings, whenever I get them, into a Nationwide bond, 6.5%.

MrExample

pem2 wrote: »

True Irish banks do look attractive but there is a suggestion that their economy is not much better than Iceland even with their 100% protection. At the moment none of us have lost anything in Icesave & KE other than stress but it's early days yet.

Indeed. That's why I'm waiting for the time being (not like I've got much choice anyway!).

With today's rate cut, it's going to be even harder to keep inflation at bay without looking to the more exotic offerings. Why oh why can't a highstreet bank just offer a simple, clean rate for life? I'd be customer for life!