Am I an idiot?

Eco_Miser

I have no photo ID. I've opened loads of accounts. The only bank I've had any trouble with is the one I've been using since 1956
Maybe because I was in branch instead of on-line. They accepted my debit card (from them) eventually.

junglejame911

May not apply, but if you have a joint account it doubles your limit with one institution.

PasturesNew

ranciduk wrote: »

I have NO photo I.d.

Eco_Miser wrote: »

I have no photo ID. .

I know it sticks in your throat .... but it's a fact that the world is a changing place and 'everybody' seems to want this darned photo ID nonsense.

If you're not short of a bob or two, I'd suggest that you simply sigh, shrug your shoulders and give in ... and get a passport purely for these nuisance ID moments.

I did that a couple of years back.

It's better/easier to get one now, when you don't "need" it as life's got a horrible way of creeping up on you and you will, at some point, find that you DO "need" photo ID urgently/fast and a passport can take some time/hassle to get organised and arrive.

Do it now .... it makes long-term sense.

Bogof_Babe

xylophone wrote: »

How can a regular poster not have seen the posts on 2 TSB Classic Plus in own name, two in partner's, two joint, 1 Nationwide Flex account each and one joint, two BOS Classic Vantage each and two joint.........etc

Don't regularly read this board unless something catches my eye when I click on the New Posts button.

The OP was talking about £95K, and if they are anything like me they wouldn't be wanting the faff of running half a dozen different current accounts. Last time I needed somewhere to put a matured bond it was £50K, the next one will be £85K. Tbh I might be missing out on the best rates, but I want to bung it away and forget about it - life's too short _party_ .

I just stuck my matured £66K Cash ISA in Lloyds for four years at 2%. I KNOW that was a cop-out but I get so stressed trying to decide between all the options, most of which are pretty rubbish. Besides, a lot of it is swings and roundabouts anyway.

jimjames

Bogof_Babe wrote: »

Don't regularly read this board unless something catches my eye when I click on the New Posts button.

The OP was talking about £95K, and if they are anything like me they wouldn't be wanting the faff of running half a dozen different current accounts. Last time I needed somewhere to put a matured bond it was £50K, the next one will be £85K. Tbh I might be missing out on the best rates, but I want to bung it away and forget about it - life's too short _party_ .

I just stuck my matured £66K Cash ISA in Lloyds for four years at 2%. I KNOW that was a cop-out but I get so stressed trying to decide between all the options, most of which are pretty rubbish. Besides, a lot of it is swings and roundabouts anyway.

If you're repeatedly "bunging away and forgetting about it" then have you considered using investments not cash accounts? Seems to be something that might be suitable if you don't need access to the money. Returns aren't guaranteed but long term should be far better than cash.

ranciduk

Thanks people. Plenty to think about there..

dealer_wins

I think is a negligible risk really, and if Lloyds was at real risk of going bust then it would be highly likely the government would take control of it.

But if it bothers you then open an account elsewhere, getting a passport if necessary.

ranciduk

Well, Lloyds group must have , I dunno the figures, around 10, 20 million customers ??

Surely the government of the day simply couldnt allow it to fail?

Lets hope we never get to find out

bigadaj

Surely lloyds have gone bust already.

Archi_Bald

ranciduk wrote: »

Surely the government of the day simply couldnt allow it to fail?

That is what people thought back in 2008 about Lehman Brothers. The world descended into a financial crisis, from which is has discovered relatively well now, and there is no more Lehman Brothers. No bank is indispensable.

People in Cyprus thought in 2012/13 that their government would not let the cypriot banks fail. Then people lost their deposits above the €100K guaranteed amount. And to the very day, no cypriot resident can get more than €5,000 out of Cyprus in a single transaction.

May be take these examples in the very recent history as a warning.

May be, if Lloyds descended into failure again, it would be cheaper for the UK to let it fail altogether. But even if the government could, or needed to, afford to rescue it, retail depositors like you and I would only have a right to £85K per person. It's not as if we have no choice, so why tempt fate.