Upcoming banking crash?

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SpitfireVcAR501
SpitfireVcAR501 Posts: 1 Newbie
edited 16 March 2023 at 4:08PM in Budgeting & bank accounts
I have savings in a cash account with my bank and am worried that this could disappear if the banks go tits up again. Should I take most of it out and put it into something like Premium Bonds to protect it? It isn't much but it has taken me a long time to save it. Thanks to all for any advice.

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  • danny13579
    danny13579 Posts: 402 Forumite
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    If it's under £85,000 it's protected under the Financial Services Compensation Scheme.
  • Shakin_Steve
    Shakin_Steve Posts: 2,716 Forumite
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    I have savings in a cash account with my bank and am worried that this could disappear if the banks go tits up again. Should I take most of it out and put it into something like Premium Bonds to protect it? It isn't much but it has taken me a long time to save it. Thanks to all for any advice.
    As far as I'm aware, no personal savings disappeared last time the banks went 'tits up'.
    I came into this world with nothing and I've got most of it left.
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