DON'T save £35000 in 9 top accounts!!

isofa

That's daft? Really. :rolleyes: I assume you say that because you are possibly taking me seriously to put your money under the bed, that' that is daft. But as you paraphrase, each to their own.

Fact - the last bank to go bust with personal accounts did over 110 years ago.

(If someone now mentions BCCI or Barings, it'll show yet more ignorance on the subject.)

isofa

In addition, if you are seriously worried, review why you are research the subject, and try to avoid the tabloid news and press reports.

Zebedee69

BCCI or Barings

Sorry i couldnt resist! lol!

Former_MSE_Dan

Hi folks,

Technically this is right - if you don't nominate the interest to go to a current account at a differently FSA registered institution, it is not safe if it would make your balance exceed £35,000.

However, it is still possible to save £315,000 at top artes in nine seperate accounts, and don't forget that if you had £315,000 in one bank and it went bust, you would lose a lot more than just the interest.

WSe're working on a short line to add into the article to cover this. I'm closing this thread now, so that we can keep all this debate ion the main discussion for that article, here:

http://forums.moneysavingexpert.com/showthread.html?t=565058