Whos Bringing Their Money Back Home?

natman

Hey Folks.
I know there have been a few posts about Icelandic Banks and foreign banks etc, but I wanted to know who is actually taking an effort to bring savings/money from a foreign type account ( ICICI, Kaupthing, ING, Nigeria etc) back to the UK.

Some people have suggested that they are thinking about it but but who are doing it and where are you placing your funds.

I am asking as I am in the process of brining all my money back into the UK banking system.
I have and about to close =

Kaupthing/ING Savings -6K
ICICI - 8K
First Save( Bank of Nigeria) - 5k

I am replacing this money in the above three accounts with the folowing three accounts -
Tesco Personal Finance esaver 6.5%
Birmingham Midshires 6.53%
Bradford and Bingley 6.51%

I am very interest to see how others are managing -
are you closing your accounts?
have you closed?
where are you placing the funds.

A few have mentioned on the forum about trying to suport our financial system and I too think think this should be considered.
Really interest to get your views people

Thanks

bjorn_again

natman wrote: »

Hey Folks.
I know there have been a few posts about Icelandic Banks and foreign banks etc, but I wanted to know who is actually taking an effort to bring savings/money from a foreign type account ( ICICI, Kaupthing, ING, Nigeria etc) back to the UK.

Some people have suggested that they are thinking about it but but who are doing it and where are you placing your funds.

I am asking as I am in the process of brining all my money back into the UK banking system.
I have and about to close =

Kaupthing/ING Savings -6K
ICICI - 8K
First Save( Bank of Nigeria) - 5k

I am replacing this money in the above three accounts with the folowing three accounts -
Tesco Personal Finance esaver 6.5%
Birmingham Midshires 6.53%
Bradford and Bingley 6.51%

I am very interest to see how others are managing -
are you closing your accounts?
have you closed?
where are you placing the funds.

A few have mentioned on the forum about trying to suport our financial system and I too think think this should be considered.
Really interest to get your views people

Thanks

I have circa £56k with KE/ING which is staying there for the time being. Don't see much point in rallying around the flag for the sake of it and who knows truly where their money is anyway. Look at the Barnsley BS, could'nt get more true brit than the Barnsley could you? Now they have had to merge with the Yorks as a consequence of losing heavily in Icelandic banks.;)

ps2659

Staying put with KE/ING

apt

The main difference with my savings is that I've left open a lot more possiblities of moving my money to a decent fixed rate over the next year with the Egg 6.3% (no longer available) and Principality BS regular saver where you can save £20-£500 per month at 7% fixed for one year. Base rates are bound to come down sharply. Not all variable rates will fall so far and so fast, but they are still likely to do down significantly. I've avoided Allied Irish fixed rates as looking too high to be entirely solid.

bluebell_lily

natman wrote: »

Hey Folks.
I know there have been a few posts about Icelandic Banks and foreign banks etc, but I wanted to know who is actually taking an effort to bring savings/money from a foreign type account ( ICICI, Kaupthing, ING, Nigeria etc) back to the UK.

Some people have suggested that they are thinking about it but but who are doing it and where are you placing your funds.

I am asking as I am in the process of brining all my money back into the UK banking system.
I have and about to close =

Kaupthing/ING Savings -6K
ICICI - 8K
First Save( Bank of Nigeria) - 5k

I am replacing this money in the above three accounts with the folowing three accounts -
Tesco Personal Finance esaver 6.5%
Birmingham Midshires 6.53%
Bradford and Bingley 6.51%

I am very interest to see how others are managing -
are you closing your accounts?
have you closed?
where are you placing the funds.

A few have mentioned on the forum about trying to suport our financial system and I too think think this should be considered.
Really interest to get your views people

Thanks

For the B & B account (issue 3) that pays 6.51%, it is no longer available (unless opened previously). Abbey have replaced this with an e-Savings (issue 6) that pays 6.1% gross-with a catch-WITH BONUS. Min investment: £1000.

pem2

Staying put with KE/ING but keeping a concerned eye on how they are dealing with other customers and also how this (to some extent test case) of icesave compensation /interest is resolved.

mobfant

Bradford and Bingley is Spanish, so you're not really bringing your money back home?

I've opened a B&B for my KE money, and waiting for icesave comp to sort itself out before deciding what else to do.

Paul.J.M

also staying with KE/ING and have just put 35K in Firstsave UK.

Pssst

You havent repatriated it yet..? wow

Perhaps you are not as sensitive as us folks who had money stolen from us..

natman

mobfant wrote: »

Bradford and Bingley is Spanish, so you're not really bringing your money back home?

I've opened a B&B for my KE money, and waiting for icesave comp to sort itself out before deciding what else to do.

Fair point to highlight that B&B Owner is Abbey, who's parent compny is Spanish. I think I was trying to say that the so called foreign banks - i.e ICESAVE, have really destroyed confidence in that market.

I was very fortunate, I opened an ICESAVE ISA, but the transfer went wrong, and i ended up cancelling the account. Next thing i hear is ICESAVE has closed.................................... I know people who had money in ICESAVE and who need this money. I feel really sorry for them.

Yes ok B&B has a parent company in Spain, but B&B is on the British Highstreet(like ABBEY).
Again an interesting point to make. I suppose, knowing my money is sitting in ICELAND, INDIA(icici) and Nigeria in the turbulent climate makes me feel edgey. I think our government would back up British Based Banks from now . I aint to sure they would do another ICESAVE...............................

Bromley86

You havent repatriated it yet..? wow

Perhaps you are not as sensitive as us folks who had money stolen from us..

Well we're more likely to think about the risk of deposit guarantees being honoured now. The offshore banking sector (as distinct from foreign banks) must be taking a pummelling now.