First Save

Charity_Dalek

Would you invest up to £50000 with First Save the Nigerian-owned internet bank. I know they are covered by the FSA up to £50k.

But there's just a negative stigma in my mind attached to the fact that they are Nigerian owned.

Sould I be concerned?

Robert

Paul_Herring

Charity_Dalek wrote: »

Would you invest up to £50000 with First Save the Nigerian-owned internet bank. I know they are covered by the FSA up to £50k.

No. But it has nothing to do with the fact they're Nigerian (or, indeed, foreign.)

Steve_xx

Paul_Herring wrote: »

No. But it has nothing to do with the fact they're Nigerian (or, indeed, foreign.)

So then, why do you say no?

soulsaver

The founder was Liverpudlian?
I would - I did..and no probs. If you decide to, leave a bit of headroom in your deposit to earn most of the interest and stay under 50K.. so 48K; then in the unlikely event they roll you're sure to get your interest too.
Icici are better risk rated, tho' same advice.

Paul_Herring

Steve_xx wrote: »

So then, why do you say no?

Primarily abysmal customer service. I've used them in the past.

Steve_xx

soulsaver wrote: »

The founder was Liverpudlian?

What exactly does this imply?

Hungerdunger

Steve_xx wrote: »

What exactly does this imply?

Well I certainly wouldn't want to invest with these fellas.

soulsaver

Steve_xx wrote: »

What exactly does this imply?

The founder WAS Liverpudlian. What do you think it implies?

Steve_xx

soulsaver wrote: »

The founder WAS Liverpudlian. What do you think it implies?

I fail to see what it implies, please do enlighten me.

littlemrtinkle

dont these guys have tier 1 protection, if they do have no worries?

withnell

Paul_Herring wrote: »

Primarily abysmal customer service. I've used them in the past.

I'm suprised by this - I always had good serve from FirstSave / IceSave, and Newcastle BS (who run/ran the operations for both) tend to be rated fairly well!