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

tradetime

home_alone wrote: »

All savings of £50K or 100K per couple in a government protected account are safe, why should savings of half that amount or any other lower amount not be safe. The only reason to split savings is if you believe that any bank/BS is likely to go under and the time it would take to get your cash back through the FSA could prove a hardship for you, but not many savers put all their cash away so that should not apply.

gary

Not sure what that adds to the discussion, who are you responding to? The OP is talking about going over the £50k, not splitting it.

withnell

I'd happily put over 50k into any of the "Government owned" banks, which is now most of them!

Wouldn't be happy going over with Santander - the s**t is about to hit the fan over in Spain because they're so tided up in real estate, which has bombed.

tradetime

withnell wrote: »

I'd happily put over 50k into any of the "Government owned" banks, which is now most of them!

Wouldn't be happy going over with Santander - the s**t is about to hit the fan over in Spain because they're so tided up in real estate, which has bombed.

Not sure how valid that is, hasn't the Spanish property market been bombing ahead of ours? In which case if Santander had excessive exposure it would have shown up by now, they wouldn't have been on an aquisition spree all over the world.

23rdian

Yes, no saver in a UK bank has lost a penny yet. And never will either.

Well maybe not directly but...

gozomark

but what ?

D1zzy

gozomark wrote: »

but what ?

Assume we all lose in the end. When 25% of GDP goes in supporting the banks; the Gov is printing money; and rampant inflation is likely as the £ devalues in the not too distant future - all savers lose.
Or am I just a pessimist.......

vits2008

I had all my money in an Icelandic bank and when they went bust the balance got transferred to ING who offer up to 100,000 Euro protection

evenasus

D1zzy wrote: »

evenasus wrote: »

I have this account too with £50K in. How is wish I had the confidence to put more in. But I always ere on the side of caution.:rolleyes:

I take it this account is no longer available?

No, I'm afraid it isn't available any longer.
It was one of those rare accounts, fixed at fairly good rate with no conditions. Grabbed it straight away.
Also got the BOS Instant Savings Account Rewward fixed at 5.8% for 12 months.
This I can add what and whenever I like and am allowed, I think, four withdrawals...Like I'd withdraw?
Would love to go over the £50K on both but just too squeamish. :rolleyes:

soulsaver

Yes in the Gov't backed ones: Lloyds Group, Northern R, RBS.
I'm well 'exposed' in LG, not in NR 'cos of poor rates, and under the limit with RBS.
I have the Halifax (LG) reward saver set up to take my maturing FTBs, giving 6.0% fix to November 09 & 4 withdrawals w/o penalty (with rules around funding in a qualifying c/a). I have been sitting on a recent ftb waiting for the toxic assets insurance to be done. Now it has been, I feel totally comfortable; so now on with the plan.

staffsuk

I have a fixed bond about to end soon and may transfer the majority of my savings to one institution. I have no qualms about placing more than 50k with a bank over which the goverment has the controlling stake. I mean - can any seriously imagine Lloyds Banking Group going under for example - seriously??! There is just no way I could ever see that happening