Would you risk > £50K in a a savings account?

D1zzy

Just heard Vince Cable on the radio say that "all retail savings are totally safe".
Would you risk putting > £50 K in a single savings account.

Robert_Sterling_3

No........................................................................

twizzel

No.
I know that "no UK saver has ever lost money with a failed UK bank" BUT there's no doubt we are living in an age where records are broken and history is being re-written.

Stavros_3

Yes and have done with the B & B even with all the hype of last year end

97trophy

Yes, with hsbc, santander, barclays, rbs and lloyds.

Others no.

castle96

yes with Coventry (6.25% fixed/rolling)

gozomark

yes................

claire07

What about with Bank of Scotland? I've got one of their Reward accounts which you can add to at a fixed rate of 4.64 net till November. I've also got several fixed rate bonds maturing this month which I'm being offered rubbish rates for. So I'm tempted to go over the 50k while the rates fixed but I don't know if that's too risky. What do you think?

tradetime

Yes I have done, but I really don't feel comfortable telling anyone else they should, if you are doing it to secure an extra .?% then I would suggest you don't, but if it's because administrating swathes of banks has become a pain, then I'd go ahead, but I'd avoid foreign banks such as ICICI et al for this.

tradetime

claire07 wrote: »

What about with Bank of Scotland? I've got one of their Reward accounts which you can add to at a fixed rate of 4.64 net till November. I've also got several fixed rate bonds maturing this month which I'm being offered rubbish rates for. So I'm tempted to go over the 50k while the rates fixed but I don't know if that's too risky. What do you think?

If Bank of Scotland is RBS then it's virtually nationalized anyway, so I'd say you are safe there, they'll bankrupt the country before they let that go down.

D1zzy

claire07 wrote: »

What about with Bank of Scotland? I've got one of their Reward accounts which you can add to at a fixed rate of 4.64 net till November. I've also got several fixed rate bonds maturing this month which I'm being offered rubbish rates for. So I'm tempted to go over the 50k while the rates fixed but I don't know if that's too risky. What do you think?

Exactly my position except my equivalent Halifax pays 5.2% 'til Dec - so tempting to add the maturing bonds to it. ( wish they'd just get on and nationalise it !!)