Bonds...

scrooge4cash

How safe are Bonds? Would it be a better option to spread my cash into smaller amounts instead of having these? I have three very large Bonds, two with the Brittania Building Society, and one with Barclays Bank, are they safe?

Linton

scrooge4cash wrote: »

How safe are Bonds? Would it be a better option to spread my cash into smaller amounts instead of having these? I have three very large Bonds, two with the Brittania Building Society, and one with Barclays Bank, are they safe?

How large is very large? Fixed rate deposits are guaranteed per person per bank up to a total of £85000.

Where 2 banks are owned by the same company, eg Lloyds and Halifax, they may or may not be classed as separate banks. In your example this isnt an issue.

scrooge4cash

Thanks Linton... I have two that are for much larger amounts, it is true to say that if I spread them into £85000 amounts they would then be safe?

Linton

scrooge4cash wrote: »

Thanks Linton... I have two that are for much larger amounts, it is true to say that if I spread them into £85000 amounts they would then be safe?

Yes - if the £85000 amounts were deposited in different banks/building societies or under different customer names eg spouse, taking into account that where there is common ownership, some apparently different banks may (or may not) be regarded as the same.

You havent asked the question, but surely you can do something better with those sums than simple bank fixed rate accounts.

scrooge4cash

I'll get onto the case, and do some sniffing around. Thanks again.