Is there many of us who have OR plan to put more than 50k in any Bank/BS ??

INTERESTTART

If you are putting more than 50K in savings accounts above the FSCS guarantee who do trust ????????

eeja

INTERESTTART wrote: »

If you are putting more than 50K in savings accounts above the FSCS guarantee who do trust ????????

A bank in or of a country that will guarantee one's deposit . There are now so many ie Australia, New Zealand , Malaysia, Hong Kong ,Singapore, Eire etc etc
The fact that Gordon Brown pointedly refused to guarantee ALL UK savers bank/ building societies deposits even when pressed to do so means he has no confidence in doing so....he himself does not trust the integrity of the UK banks and building societies !! If he doesn't trust them why should we ?

mars_2

I'm guilty of that with my collection of ISA's that have been fattening up with interest for a few years but I am now slimming one down a bit.

neil324

Nationwide have about 60k

Masomnia

I'd be happy to put more than £50k with most of the bigger institutions, especially the British ones. If they'll guarantee Icelandic savings, why not anywhere British? Plus I do get the feeling we're over the hill as regards banking troubles.

The only reason I think GB hasn't explicitly guaranteed every penny in every bank is the amount of stick he'd get from the Tories et al about the potential expense (and resulting borrowing) caused by bailing everybody out.

bjorn_again

I have (quite a bit) more than the £50k with Abbey. If Santander go to the wall we will not be looking at "another Bank" down the drain, we will most likely be looking at the end of Banking as we know it.

Masomnia

bjorn_again wrote: »

I have (quite a bit) more than the £50k with Abbey. If Santander go to the wall we will not be looking at "another Bank" down the drain, we will most likely be looking at the end of Banking as we know it.

Exactly my thinking. If a huge global bank like that went down, then whatever we have over £50k would be the least of our worries.

eeja

bjorn_again wrote: »

I have (quite a bit) more than the £50k with Abbey. If Santander go to the wall we will not be looking at "another Bank" down the drain, we will most likely be looking at the end of Banking as we know it.

Well Lehman Bros one the largest investment banks in the world recently went belly up and AIG the world's largest insurance co almost bust ...just got a $150Billion bailout from the US government, not to mention General Motors, Ford and Chrysler all teetering on the edge of bankrupcy.
ANYTHING CAN HAPPEN including Santander going bust.

JayTee99_2

Nothing to get over-concerned about, but needs to be mentioned before someone blows it out of proportion (maybe eeja?)

Did anyone see on the news today that Santander plans to raise $9.2 billion in a rights offer, after just a fortnight ago saying no need to raise capital?
i'm in no way alarmed by this, and not intending to make any changes,
Most banks are shoring up their capital positions, so should be seen in that light, i suppose

Santander needed capital so the sooner the better,'' said Arturo de Frias, an analyst at Dresdner Kleinwort in London who recommends buying the stock.

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=a0p7fKDJLSg0



No eeja, this DOES NOT MEAN Santander is going bust.
Trying to frighten people into your little offshore [strike]scams [/strike]schemes, eh?

soulsaver

Brown has intimated he'll cover all individual deposits. I think he's a stickler for the rules so won't formalise it without Euro ratification.
There are rumours we'll get uplift to euro100k to come in line, but he must be reluctant without Financial sector backing.
I'm not convinced Santander is that solid - our FTSE 100 banks have all (ex HSBC) caused the odd shock.. or change of underware. Given Santanders potential exposure to Spains already disintegrating property market - which started BEFORE the crunch... I'm not scare mongering, just be prudent would be my advice. Better spread it around in several 'safe' banks and stay below the limit?:cool:

eeja

Soulsaver...you are absolutely right....agree with every word .
As for the poster just prior, the fact Santander wants to raise more cash is indeed worrying as they will have to pay a heavy price and could even fail to raise the required amount from private investors.
Bet the news will result in a further downgrade by Moody's , S & P
and Fitch !