Which Savings Account???

foolsgold99

Hello,
I too have been stung with the Icelandic crisis. I'm not too bothered though as I'm sure that we will get our money back in time. However, I currently have another £4000 in ICICI which I hope to use to pay off the credit card tarting. I wasn't going to move this out of ICICI but I can't take the risk in case it locks away my money before I can use it to pay off the credit cards.

I'm now looking for a resonable savings account to pop my money into.
I was thinking about opening an egg one as I have egg money.

Just wondering if anyone has any pointers, views or advice?

Thanks :T

silps

Well customer service is very nice whenever I ring Egg. No idea about how strong Citigroup the owners of Egg are in the current climate. Egg currently have a 6.55% variable rate savings account.

Actually maybe someone can answer this question for me, if theoretically Citigroup did go under, Egg being registered with the FSA, does that mean the money is ring fenced to stay here in the UK and Egg could continue operating?

foolsgold99

Thanks for your reply. The Tesco internet account also looks quite good?

silps

Who runs/owns the Tesco internet account?

foolsgold99

silps wrote: »

Who runs/owns the Tesco internet account?

Good point. I'm not to sure.

Anyone?

Baldur

silps wrote: »

Who runs/owns the Tesco internet account?

Tesco Personal Finance, who are authorised by the FSA - it used to be a joint venture with RBS but Tesco bought them out earlier this year, I believe.

starfish10

So what rate is Tesco?

MrExample

I'm moving my savings to B&B. They've got a great instant-access savings account at 6.51% (with a rate guarantee - albeit a weak one). Crucially for me they also offer a decent ISA too, so I'll be moving to them if possible; assuming the rate doesn't drop.

B&B are now owned by Santander, which seems like a good bet by any measure I can see.

Toastie

MrExample wrote: »

I'm moving my savings to B&B. They've got a great instant-access savings account at 6.51% (with a rate guarantee - albeit a weak one). Crucially for me they also offer a decent ISA too, so I'll be moving to them if possible; assuming the rate doesn't drop.

B&B are now owned by Santander, which seems like a good bet by any measure I can see.

Santander are quite safe rightly so, but do not assume they are the safest. Govt running banks are and Santander have a large stake in the very poorly performing Spanish Housing market (recently Banco Popular had a cash injection by the Spanish Govt)

Although i think they will be safe don't be too alarmed if they have a cash injection or a media article poorly reports on a 'financial difficulty'

Although this is only based upon the Times Online:
http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article4926277.ece

renard_2

starfish10 wrote: »

So what rate is Tesco?

Look it up, you lazy b****r!! Why should others have to do it for you?

smash

I've just gone for Tesco, already had the previous savings package from them which had a 6 month bonus period. Spoke to them first and they were very helpful, said I have to apply for the new internet saver account online and there's no problem in moving savings from the old account into it.