Fixed Rate Bonds

nilrem_2

nzseries1 wrote: »

I guess Icesave would say that, wouldn't they

Call me simple if you want, but I prefer to have the compensation from the government of the country I live in, rather than the compensation from the government of a country I know nothing about.

TBH I was not disagreeing with you in fact I was trying to imply that one is safer under the FSCS scheme!

Even though ING 'bluster' that their passport scheme is better we can be pretty sure that the UK government will honour all savings tied up in UK institutions but we cannot be sure if they would help again should the unthinkable happen under the passport scheme!

soulsaver

nilrem wrote: »

That sounds rather familiar TBH! I can remember reading something similar when I was persuaded to place my savings with Icesave, Icesave implied that my savings would be safer because they operated the passport scheme which was backed by the reliable Icelantic banking system!

Sounds nowt like it to me... the Dutch paid out quicker than the UK for the Iceland debacle.
But I'm not arguing which can be relied upon - people post to give the impression that their is no guarantee, I like to air the facts. And the facts are there are guarantees.

ghostbusters

I did not have a choice which bank my Kaupthing Edge money ended up with. I like to think the government would extend help to those who it transferred to ING if ING ever got into trouble .

soulsaver

nzseries1 wrote: »

This is a matter of opinion. The FSCS paid out Icesave when it did not have to, and not just £50,000... ALL deposits. I was most unhappy when I realised I would be losing the FSCS protection on my fixed term account. That was what made me choose Kaupthing Edge in the first place over Icesave.

I agree. What I was cynically saying is there is an implied better chance of the Dutch still being solvent when we're, er, not.
And BTW ...all RETAIL deposits...
The fact that councils, businesses & charities lost £millions appears to have gone very quiet in the media.

soulsaver

ghostbusters wrote: »

I did not have a choice which bank my Kaupthing Edge money ended up with. I like to think the government would extend help to those who it transferred to ING if ING ever got into trouble .

Good point - same with my Heritable. I withdrew my ING & KE (and paid penalties)to get below the UK limit for exactly that reason, as the Heritable has 'no withdrawals' clause.

nzseries1

nilrem wrote: »

TBH I was not disagreeing with you in fact I was trying to imply that one is safer under the FSCS scheme!

Even though ING 'bluster' that their passport scheme is better we can be pretty sure that the UK government will honour all savings tied up in UK institutions but we cannot be sure if they would help again should the unthinkable happen under the passport scheme!

I agree with you completely :-) I guess I was just trying to answer the OPs original question, and say yes Fixed Rate Bonds are covered by the FSCS guarantee, but there is a miniscule chance that this may change during the life of the fixed bond. I'll leave it up to him/her as to how miniscule that chance actually is