Money safe in Citi if nationalised? [renamed from Citibank/Egg Collapse]

Lynt_3

opinions4u wrote: »

Could you rename the thread please.

I just spilled my tea on the laptop.

Me too! Nearly had a heart attack :eek:

456789

Lynt wrote: »

Me too! Nearly had a heart attack :eek:

me three!!

autopetfeeder

Sorry the thread name is a bit dramatic - I'll think twice next time!

Anyway, I think I've been convinced to save something with Citi. Thanks for the advice.

Regarding why I opened the account when I wasn't sure well it doesn't cost much effort and I thought there was a good chance I'd save with them.

Would anyone not bank with ING? I've also got savings with them (4.15 gross) but I know they're backed only by the Dutch scheme. Since I'm not dutch, I wonder if that could be a problem if push came to shove...

Inactive

:spam: Reported, 4 posts with same link.

Createv

I have 30K in saving in citibank should I move this money.

Or am I ok if the bank does fail how would I gain my money back.

Thanks

withnell

autopetfeeder wrote: »

If I'd asked the same about Lehman Brothers a year or so ago wouldn't I have solicited a similar "inconceivable" response? Are they so fundamentally different in terms of why the US government would prop one up but not the other?

The US government has already pumped over $25 billion into Citibank. 50k coverage, all by FSCS.

Andrew64

Looks like the US Government will take 40% of Citibank. It won't affect the depositors in the US but the shareholders will be diluted. So far as Egg in Britain is concerned, I suspect that the US Government will make them sell off a lot of foreign assets so Egg could end up with a new owner.

http://business.timesonline.co.uk/tol/business/industry_sectors/banking_and_finance/article5787745.ece