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Can't help being reminded of all those energy companies being granted licences only for them to go bust as soon as conditions got difficult and now one way or another we're all paying for their failure. Let's just hope the FCA has more sense than OFGEM did.Patr100 said:
Hmmm, Less than 3 months ago. What could possibly go wrong..?RG2015 said:Thumbs_Up said:StreamBank, never heard of them.StreamBank is a new specialist Bank that in July 2021 applied for a banking licence, since then it progressed the regulatory approval process and as of February 2023 were granted full authorisation.
The Bank was founded to serve specialist property and savings customers with the best financial solutions, through the combination of experience, judgement and desire to find a solution.
(yes I know there is the FSCS protection)3 -
OakNorth now at 4.92% for a 1 year fix and 4.96% for both 18 month and 2 year fixes.3
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Hell no! Far too dodgy.Thumbs_Up said:RG2015 said:Thumbs_Up said:StreamBank, never heard of them.StreamBank is a new specialist Bank that in July 2021 applied for a banking licence, since then it progressed the regulatory approval process and as of February 2023 were granted full authorisation.
The Bank was founded to serve specialist property and savings customers with the best financial solutions, through the combination of experience, judgement and desire to find a solution.
Top notch rates, have you invested?
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I opened up a Al Rayan 1 year fix, a week ago @ 4.75%, didn’t fund though, always trust you gut. Just opened a new 1 year fix, now 4.95%.
“ the sun has got his hat on hip hip hooray”
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What is dodgy about an FSCS protected account?RG2015 said:
Hell no! Far too dodgy.Thumbs_Up said:RG2015 said:Thumbs_Up said:StreamBank, never heard of them.StreamBank is a new specialist Bank that in July 2021 applied for a banking licence, since then it progressed the regulatory approval process and as of February 2023 were granted full authorisation.
The Bank was founded to serve specialist property and savings customers with the best financial solutions, through the combination of experience, judgement and desire to find a solution.
Top notch rates, have you invested?
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Expotter said:
Can't help being reminded of all those energy companies being granted licences only for them to go bust as soon as conditions got difficult and now one way or another we're all paying for their failure. Let's just hope the FCA has more sense than OFGEM did.Patr100 said:
Hmmm, Less than 3 months ago. What could possibly go wrong..?RG2015 said:Thumbs_Up said:StreamBank, never heard of them.StreamBank is a new specialist Bank that in July 2021 applied for a banking licence, since then it progressed the regulatory approval process and as of February 2023 were granted full authorisation.
The Bank was founded to serve specialist property and savings customers with the best financial solutions, through the combination of experience, judgement and desire to find a solution.
(yes I know there is the FSCS protection)
Yes, this deserves a repost.
The UK savings world does "feel" a bit "Wild West" at the moment, somewhat like the UK pre-covid retail energy market. New bank brands popping up every few weeks with a new wow deal.
Ofgem failed because it liberalized retail energy, but choked wholesale energy. Hopefully, the FCA has a better handle on retail and wholesale savings markets... 🤞1 -
FSCS protection.
It occurred to me that whilst we all feel assured about saving with FSCS registered firms, I wonder if there has ever been an instance where a financial institution has been delisted from the FSCS? I mean, if a company was delisted say 3 months into a 2 year bond, then I wonder what, if any, provision is made for any current savers?0 -
OakNorth take the lead
4.92 one year
4.96 two year1 -
The two post above make good comment. It very easy to get carried away with the recent interest rate rises. I broke a golden rule and invested 100k with Atom for a 6 month fix. Three months later reading news about small American banks going under, this ain’t over btw, this year we may hear more grim news, but coming from Europe. Make a note of this comment.
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Hint.Band7 said:
What is dodgy about an FSCS protected account?RG2015 said:
Hell no! Far too dodgy.Thumbs_Up said:RG2015 said:Thumbs_Up said:StreamBank, never heard of them.StreamBank is a new specialist Bank that in July 2021 applied for a banking licence, since then it progressed the regulatory approval process and as of February 2023 were granted full authorisation.
The Bank was founded to serve specialist property and savings customers with the best financial solutions, through the combination of experience, judgement and desire to find a solution.
Top notch rates, have you invested?
A mild profanity + alongside a (possibly facetious) comment = Humour, jocularity, un bon mot.
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