Looking to withdraw my savings from the banking system

ianmoticon

I want to take all of my savings out of banks or building societies. This might be for a few months or maybe a year or 2. Who knows.

I wondered if anyone knew about any of the following options:

1. A company who makes good, solid secure safes and installs them.
2. The safest and best way to keep money outside of the influence of banks, governments or government 'insurance' for saving. For example, by investing in gold.
3. Any other options

I'm not concerned about earning interest on my money.

Also, and purely out of interest, does anyone know how people protected their money during the depression of the 1930s (Those 'in the know' so-to-speak).

Thanks in advance.

sons_2

Why would you want to do this?

Your money is protected in the bank and earns intrest, I can not think of a single reason anyone would want to do this.

talana

You don't want any interest at all? Your call. :rolleyes:

If you have massive amounts of cash at home, it's not going to be covered by your standard contents insurance. Are you going to raise your insurance cover too?

So no interest?
No protection?
And paying for the privilege?

ianmoticon

sons - I'm not interested in discussing why.
talana - I've already said I'm not interested in interest. Any advice about protection for whatever method is welcomed, as I've pointed out in my original post.

This isn't a discussion about my decision. If anyone has any advice about the question in hand, then I'd be interested to hear.

stv1x

I think that you'll find a number of people doing this after the showing of 'The Crash - 1929' over the weekend.

sons_2

talana wrote: »

You don't want any interest at all? Your call. :rolleyes:

If you have massive amounts of cash at home, it's not going to be covered by your standard contents insurance. Are you going to raise your insurance cover too?

So no interest?
No protection?
And paying for the privilege?

regarding the insurance, you have any sizable amount (not even massive) the insurer may want proof you had it at home and question why you did have it. They would investigate heavily as they would view it as possible fraud.

Lansdowne

ianmoticon wrote: »

I want to take all of my savings out of banks or building societies. This might be for a few months or maybe a year or 2.

Why not pick one or the other.

If your anger is with banks, take it out and put it in a Building Society: Nationwide, Chelsea, Yorkshire or some smaller ones, or a mixture to suit your preferences.

What were you going to put in your safe anyway? Bank notes?

ianmoticon

Lansdowne wrote: »

What were you going to put in your safe anyway? Bank notes?

Any advice about the safest thing to put in a safe is welcomed. Gold? I've just told you that I'm not discussing my decision, only the question in hand.

stv1x

ianmoticon

Not sure about installation:-

http://www.thesafeshop.co.uk/

For physical gold, you could start here

http://www.atsbullion.com/

ianmoticon

Thanks stv1x

Paul_Herring

ianmoticon wrote: »

1. A company who makes good, solid secure safes and installs them.

Already covered by earlier posts - this is not as safe(!) as you seem to think.

2. The safest and best way to keep money outside of the influence of banks, governments or government 'insurance' for saving. For example, by investing in gold.

The safest and best way is to not have any money. Gold isn't a safe bet, not least because of things like Executive Order 6102 where the government confiscates it.

3. Any other options

Stop worrying about it. If it comes to the point where your money in banks is worthless/non-existant, then the pieces of paper you have in your safe at home will also be worthless.
On a less pessimistic note, pay off all your high-rate debts, have your 3-6 month cushion of cash in easily accessable, consider diversifying the rest of your wealth. No different to the normal stuff on this site.

Also, and purely out of interest, does anyone know how people protected their money during the depression of the 1930s (Those 'in the know' so-to-speak).

I'm not able to find out much from Google, except the fact that most people couldn't protect their money, basically because most people didn't have any.

http://newsblaze.com/story/20081017061827zzzz.nb/topstory.html has 5 'hints' on what you might want to do.