Bank scandal, do I need to move banks?

FVFMoney

I'm sure there are scandals with the big banks all the time, but when one comes to light do I need to consider moving to a different bank to protect my money and savings?
Thank you!

Barny1979

How much do you have in them? If more than £80k consider moving some money out.

societys_child

Huh? What scandal are you referring to?

eskbanker

FVFMoney said:

I'm sure there are scandals with the big banks all the time, but when one comes to light do I need to consider moving to a different bank to protect my money and savings?
Thank you!

No.

Barny1979

societys_child said:

Huh? What scandal are you referring to?

The Russian money laundering I assume

ratechaser

Oh !!!!!!. If I moved bank every time there was a scandal, I'd have run out of places to work at by now 

tacpot12

No, you don't need to move banks. The regulators might want to close a particular bank down, but they would take control and close it down in an organised fashion so that no-one lost any money. 

FVFMoney

Thank you to everyone who has commented. I dont have a lot, but I guess more than ever before the fear is losing anything, especially as I have all my accounts in one bank. 

John_

FVFMoney said:

Thank you to everyone who has commented. I dont have a lot, but I guess more than ever before the fear is losing anything, especially as I have all my accounts in one bank. 

Why do you think that you are at risk of losing anything?

Zanderman

FVFMoney said:

Thank you to everyone who has commented. I dont have a lot, but I guess more than ever before the fear is losing anything, especially as I have all my accounts in one bank. 

Unless you have more than £85k in one bank there's no need to worry. 
And if you are worrying that all your accounts are with one bank, open one or two with other banks.  It's very easy. 
And a sensible move anyway.

someone

Zanderman said:

[...] And if you are worrying that all your accounts are with one bank, open one or two with other banks.  [...]

 If the OP is worried about stability of the bank then you want to make sure you open it with a completely different bank and not just another retail arm of the same bank.  For example

* RBS, NatWest, Ulster Bank, Coutts are the same.

* Lloyds, Halifax, Bank of Scotland are the same.

There are more examples but these are the two big banking groups that have many high street names