Upcoming banking crash? 16 March at 2:03PM edited 16 March at 3:08PM in Budgeting & bank accounts 2 replies 272 views

SpitfireVcAR501

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.

danny13579

If it's under £85,000 it's protected under the Financial Services Compensation Scheme.

Shakin_Steve

SpitfireVcAR501 said:

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'.