Whats the consensus about how long to fix your cash ISA for.

Reaper

paul5046 wrote: »

Its a safety thing. Where are the only places people lost money.

BCCI
Icelandic banks
Barings

I assuming you are talking about savers not shareholders because Northern Rock shareholders etc lost their money.
BCCI - maybe, I'm not familiar with the details, but that was a long time ago
Icelandic banks - no UK savers lost their money
Barings - no UK savers lost their money

I think you learnt the wrong lesson from these events. Money is safe for UK savers putting their money with UK banks, online or offline. I expect you would have been happy to save with the Post Office because there was a branch in your High St but they would have given your money to the Bank of Ireland and it would have been subject to the Irish compensation scheme - and when things were looking grim there was a feeling that the Irish banks might go under and their government would have been unable to fund the guarantees.

It's your decision, but it means you miss out on some good savings accounts.

rb10

As IF are part of HBOS/Lloyds, if savers in IF lose their money, then so do those in Halifax, Bank of Scotland, Lloyds TSB, Birmingham Midshires .... the list goes on. They are all part of the same group.

financial_illiterate

paul5046 wrote: »

Its a safety thing. Where are the only places people lost money.

BCCI
Icelandic banks
Barings

No branches where i live.

I think it would be fairer to say its a confidence thing. Your money is not actually any safer in a branch than it is in an online account with the same banking group, but you feel as if it is. And I guess theres nothing wrong with that, but it does deny you access to the more competitive accounts at the moment.