Stubborn Grandparent

Mick_S_3

My first post here, but thanks to some of the information here and from Martin on Radio 2 I have a 70 % mortgage on a lifetime tracker at 0.25 above base rate. No amount to worry about on the credit card but unfortunately due to working part time no savings worth talking about.

Tonight, however, I became aware that my wifes grandmother has a 6 figure sum invested in solitary UK bank (RBS). The full amount wasn't disclosed to me but right away the alarm bells rang as the treasury will only guarantee £50k for each institution. Unfortunately she is of the opinion that the Royal is the bank she has been using for years and refuses to move any of her savings to another bank. I have tried to explain the financial implications should RBS fail, however unlikely that may be after the recent £400bn bailout, to her daughter who has passed on the information but at the moment it all seems to be in vain.

Has anyone else experienced similar situations with their elders or can offer some advice, although if telling someone they are in a position to lose 100K doesn't frighten them I'm not sure what will.

thanks in advance

Mick.