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No Hassle Savings
willmoneybags
Posts: 2 Newbie
Given the current EU euro zone crises is it more prudent to avoid investing savings with Spanish Banks for example. I know there is government protection up to £85,000 but I can imagine it would be a long drawn-out process to recover ones funds in an event that forced such a Bank to close.
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Comments
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The FSCS are confident that, in most cases, a settlement would be made within 7 days of a bank collapse.0
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Thats a lot quicker than I thought - I am assuming that you mean settlement = 100% of an individuals savings up to £85k0
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I know there is government protection up to £85,000
The protection is from the FSCS. Not the Government.but I can imagine it would be a long drawn-out process to recover ones funds in an event that forced such a Bank to close.
Wasnt in the case of Bradford & Bingley or Alliance & Leicester. It was seamless with them. However, manual claims are as O4U says.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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