Ex-ICEsavers - where now?

chesky369

Well, now it looks like we may really get our money back in the not-too-distant future, time to start thinking about where to put it now. Where are others turning to? I've got an A&L e-saver which has a bonus until next January but I'm obviously not going over the £50k limit, so I've still got to find a home for the chesky millions. Also, the A&L has the drawback of the loss of interest in any month you make a withdrawal. So, don't want another like that. Not keen on exotic banks any more either.

Where's the ICEsave money going then?

Liz_the_Whizz

I've opened an iSaver with Intelligent Finance (aka HBOS) @ 6.4% - instant access, on-line and easy to operate with my IF current account/offset mortgage.

No more overseas accounts for me, give me dodgy old HBOS anytime;)

Swipe

I'll be putting mine in my Birmingham Midshires internet e-savings issue1 account @ 6.5%

$nake_eye$

Can we not put it in another ISA?

Baldur

$nake_eye$ wrote: »

Can we not put it in another ISA?

If you have an Icesave ISA, the system for maintaining its tax-free status is still being sorted out by the FSCS, who will announce the process when ready.

chesky369

No, I'm not talking about ISAs - that's a whole different scenario. Just plain and simple money.

cloud_dog

Swipe wrote: »

I'll be putting mine in my Birmingham Midshires internet e-savings issue1 account @ 6.5%

Just remember BM is part of BoS.

elektra

whichever you choose , start the opening process now. that way the new account should be ready by the time Icesave money returned.

bjorn_again

ING - they have the backing of the whole European Community not just the Dutch Government. No major Euro Bank will be allowed to go to the wall. I already have my KE/ING account open and the money will go right in there.

Pendle_Gazza

bjorn_again wrote: »

ING - they have the backing of the whole European Community not just the Dutch Government.

I'll certainly be steering well clear of anything with the evil words "passport scheme" lurking anywhere near!

meanmachine_2

bjorn_again wrote: »

ING - they have the backing of the whole European Community not just the Dutch Government. No major Euro Bank will be allowed to go to the wall. I already have my KE/ING account open and the money will go right in there.

Any bank with a passport system MUST be avoided at all costs, in my opinion.

"No major European bank will be allowed to go to the wall"? I suggest you read up on the exposure European banks have to emerging East European markets and, more worringly, South American countries.

"Amazingly, Spanish banks alone have lent $316bn to Latin America, almost twice the lending by all US banks combined ($172bn) to what was once the US backyard. Hence the growing doubts about the health of Spain’s financial system – already under stress from its own property crash – as Argentina spirals towards another default, and Brazil’s currency, bonds and stocks all go into freefall."

http://www.telegraph.co.uk/finance/comment/ambroseevans_pritchard/3260052/Europe-on-the-brink-of-currency-crisis-meltdown.html

For that reason, again, personally, I'd avoid ING, Santander (Abbey) and I'd also steer clear of HBOS/BM given its collapsing share price. (I know Lloyds have stepped in, but they too are under pressure).

Poor interest, I know, but I'm moving to HSBC.

Famous last words?