Lesser of two evils?

freeasabird

ISA rates are rubbish but I'd like to try and get a little bit more than the 0.75% I'm getting now.

Am I right in thinking the Post Office are not fully covered under the scheme that repays you if a banking institution goes under? The Bank of Ireland connection worries me.

Not that comfortable with Santander but I assume I'd get my money from them if they went under? Looking at their 123 ISA.

Please note I'm putting money in a high interest current account so this is just to ensure I don't lose money on an old ISA by transferring it to a better rate.

Thanks

eskbanker

freeasabird wrote: »

Am I right in thinking the Post Office are not fully covered under the scheme that repays you if a banking institution goes under?

No, they are as well protected as any other UK institution under the FSCS £85K guarantee, see http://www.postoffice.co.uk/savings-accounts/your-savings-are-protected