Bank savings accounts vs. NS&I : which one is the safest ?

coachman12

max11 said:

Hi All,

I have a savings account that pays almost no interest after a recent change. I am thinking of moving the money (under £85k) to NS&I (where I already got something invested with) to get a decent return, but I wonder if I should keep it with the bank just not to put all the eggs in one basket.

I am aware that bank accounts are protected by the FCSC, while the sums invested with NS&I are 100% backed by the Treasury. 

The two protections are different: which one do you think is the safest protection ?

Thank you

Max

No need for eggs and baskets if you are moving money to NS&I. All protected and the 1.16% is the very best for any easy access account ( plus a rare 2 months warning if rate is to be reduced). 
Can't go wrong, Max. I've just transferred all the savings I need immediate access to into NS&I   (where I have already got quite a lot of existing longer-term Bonds). 
And as we are on a thread made too serious because of a particular input let's end with 

max11

Cheers. Yes I am going to move the money there too!