Would you put over £85k in a bank account for a weekend?

unlucky67

Ok know I'm a bit paranoid about this...but...
I need to bank transfer from one account almost £200k on the 25th June...
Bank have said no problem to do it on the day - but for my peace of mind I would like to get it all together in one account on the Fri (22nd) so it is ready for transfer on the Mon (25th)...in fact maybe even transfer it on the Fri so it is done...
With current economic climate/ eurozone crisis etc - would you be happy to have more than the FSC guaranteed £85k in one account over that weekend? Is a complete meltdown is on its way? ...

Also if you did it - which would you feel to be safer a Nationwide or RBS account?

97trophy

unlucky67 wrote: »

Is a complete meltdown is on its way?

No....just inflation

Generali

unlucky67 wrote: »

Ok know I'm a bit paranoid about this...but...
I need to bank transfer from one account almost £200k on the 25th June...
Bank have said no problem to do it on the day - but for my peace of mind I would like to get it all together in one account on the Fri (22nd) so it is ready for transfer on the Mon (25th)...in fact maybe even transfer it on the Fri so it is done...
With current economic climate/ eurozone crisis etc - would you be happy to have more than the FSC guaranteed £85k in one account over that weekend? Is a complete meltdown is on its way? ...

Also if you did it - which would you feel to be safer a Nationwide or RBS account?

There is no certainty that there will be an economic meltdown and it is even less likely to happen on any specific weekend.

If you are worried avoid the weekend. Banks that go bust do so at the weekend because it gives everyone a couple of days to sort things out before markets etc open.

aardvaak

Why not - where else would you put it?

PasturesNew

I've probably already got that much in one all the time ... and am about to stick a bit more than that into another bank into an 18-month thingy.

Sometimes !!!! happens - and there's only so much time you can spend fretting about the details.

aardvaak

PasturesNew wrote: »

I've probably already got that much in one all the time ... and am about to stick a bit more than that into another bank into an 18-month thingy.

Sometimes !!!! happens - and there's only so much time you can spend fretting about the details.

Exactly I too have and have had for sometime a large sum in the bank!

As long as it's a large main bank - whats the problem

I suspect this was not a serious question just the op showing off has just aquired something!

unlucky67

Why not - where else would you put it?

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I've probably already got that much in one all the time ... and am about to stick a bit more than that into another bank into an 18-month thingy.

Do you have more than the FSC guranteed £85k with one bank?
Currently this money I'm talking about is in separate banks and in both my and my partner's name....none with more than £82k in ...
I always 'hope for the best, prepare for the worst'
-maybe I do worry too much?

unlucky67

Cross post - just seen aadvarks post - not showing off at all - serious worry...obviously if this was small change to me I wouldn't be worrying about it at all ...
Actually the majority of this isn't really my money but my partner's- he comes from a really poor background and he has worked hard for this money - I couldn't stand the guilt if he lost any of it through my stupidity/lack of foresight...

PasturesNew

If there are two of you, you get double bubble.... you're both protected to the £85k limit.

Me ... I simply gave up trying to find enough banks to shove my money and really keep meaning to round it all up and spread it about a bit better ... I just never get round to it. Some accounts I have £0 in, some £100 .... all sorts, loads of bl00dy bank accounts because of that daft rule ... and all I REALLY want is to have it all in one place... but that's too simple.

I'm also a trustee and a PoA and have had to spend time in the past week sorting out MORE !!!!!!!' accounts!! grrrr.

unlucky67

Unfortunately it needs to go from one account and we don't have a joint one...so only the £85k limit ....
The reason it is spread all over everywhere ...so it isn't straight forward to move it ....is the £85k limit...
To be honest - my partner leaves all the finances to me -and I feel out of my depth - this is to buy a house and a bit of me will be relieved that I won't have to worry anymore about some of it earning 0.35% interest because the fixed term bond expired and I haven't got round to reinvesting at a better rate....
With you on the trustees/charity bit - I do the accounts for a couple of small local charities - for one we have £6k in a contingency fund (third of total funds) - it earned 56p interest last year - the remainder earns no interest in a current account - but finding a better deal for them (trustees change every year) is proving such hard work that it keeps getting put on the back burner ....

pqrdef

Our banking and payments system can't cope with the amount of money involved in buying a house.

Given that, it seems an unreasonable requirement that you should get the money all into one lump. Why is that?