100% safety

In_the_black_3

Hi. Just wondering which bank people would recommend putting money from a property sale in this economic climate? (Over 50k) 100% safety is more important than a high return for the moment. Northern Rock? Thanks.

whu

If you want safety put less than £50K in a couple of institutions as you are only protected upto £50k including interest - why not have a look at any of the banks who have been nationalised to some degree

tradetime

Northern Rock for now, until they lift the guarantee, otherwise NS&I

In_the_black_3

Thanks for the advice.

theGrinch

Yes Northern Rock and I think the irish banks; bank of ireland and AIB are 100% government backed until mid 2010. Bank of Ireland offer products via the Post Office also from my understanding.

gozomark

theGrinch wrote: »

bank of ireland and AIB are 100% government backed until mid 2010.

by the Irish, not the UK Govt

djohn2002uk

theGrinch wrote: »

Yes Northern Rock and I think the irish banks; bank of ireland and AIB are 100% government backed until mid 2010. Bank of Ireland offer products via the Post Office also from my understanding.

Irish Banks? No thank you.
Irish economy is in a worst state than ours and is teetering on the brink.

And tradetime, I think you need to do a bit of research too as NS&I also put your savings into Irish Banks.

gozomark

djohn2002uk wrote: »

And tradetime, I think you need to do a bit of research too as NS&I also put your savings into Irish Banks.

NS&I are UK Govt backed - nothing to do with Irish banks

as to whether Irish in more trouble than UK - moot point, given Ireland in Eurozone

JoeCrystal

@djohn2002uk National Savings & Investments used to be a government department although they are now executive agency within the Her Majesty's Treasury since 1996. You need to have HM Treasury to be bankrupt in order to destroy NS&I.

Thus, it is ultra safe, unless you doubt Her Majesty's Treasury ability to honour them.

@In the black Oh, you are looking for a bank so NS&I do not applies to your question.

sabretoothtigger

The confusion there is the post office sells some irish bank backed products apparently but they wont be marked ns&i

Just get the best rate and use more then one bank account, thats the flexibility of cash so you might as well

tradetime

And tradetime, I think you need to do a bit of research too as NS&I also put your savings into Irish Banks.

Really?
http://www.nsandi.com/about/ourstory.jsp