Banks?

Blowdog

Which bank is currently the safest/least likely to go 'bust'?

Asheron

Your own bank, Gold and Silver coins.

Blowdog

Im starting to think along them lines!!

Would it be HSBC?

456789

HSBC appear to be in the best position, but really who knows!

rb10

It really doesn't matter.

Remember that:
- As long as the bank is part of the FSCS, the first £50,000 of money in any banking group is FULLY protected.
- It's very very unlikely that any large UK bank would be allowed to go bust. Even before HBOS merged with Lloyds, they had around 20 million customers. Could the Government really afford (in terms of votes in the next election) to let down one in three of the population?

It is wise at the moment to take care - i.e. don't put more than £50k in any banking group, regardless of how safe you or others think they are. For example, ING have a slightly different protection scheme.

sh856531

Which bank is currently the safest/least likely to go 'bust'?

Of (what were) the "Big 5", HSBC is without a doubt considered the strongest. You just need to use google finance to look at HSBCs market cap in comparison to the other 4 main UK banks.

That said, in terms of safety you may want to broaden your consideration to building societies rather than retail banks because as I understand it their risk profile is often very different from the main retail banks.

Not sure which particular BS would be considered the safest though.

HTH

S

sh856531

Could the Government really afford (in terms of votes in the next election) to let down one in three of the population?

The government has already lost the next election. It's just a case of to what degree they get their @ss handed to them.

I can't wait until that @sshole Cameron takes over. I'm sure things are going to be soooo much better with those muppets in charge... no really, I'm serious....

;-)

S

Paul_Herring

NS&I I thought were to be the safest (for sums > #50K) along with (at the moment) Northern Rock (6 months notice before they drop the limit from infinity to #50K)

Unless you want to start looking overseas for what you perceive to be better guarantees than the UK Gubmint.

Stavros_3

Asheron wrote: »

Your own bank, Gold and Silver coins.

Not again Zzzzzzzzzzzz

Aegis

Stavros wrote: »

Not again Zzzzzzzzzzzz

Getting rather tiresome, yes? Every time someone asks for something safe, there he is with a recommendation to dive in to commodity investing, something the majority of people simply should be doing except as part of a balanced portfolio.

Masomnia

Asheron wrote: »

Your own bank, Gold and Silver coins.

Assuming you have somewhere safe to store them, don't mind the risk of depreciating asset values, can find a buyer in future, can find a trustworthy place to buy them from at a premium which isn't too high, don't mind the lack of liquidity...