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Would you feel comfortable putting more than £85K with Natwest?
anotherquestion
Posts: 521 Forumite
Hi folks,
Taking into consideration that Natwest is big in the banking business and that the tax payer through the government is one of the big shareholders, would you feel comfortable putting more than the £85K (limit for FSCS) into one of Natwests competitive fixed rate ISA
Thanks a lot for any advice.
Taking into consideration that Natwest is big in the banking business and that the tax payer through the government is one of the big shareholders, would you feel comfortable putting more than the £85K (limit for FSCS) into one of Natwests competitive fixed rate ISA
Thanks a lot for any advice.
0
Comments
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No, but then I would never hold that much cash.2
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No I wouldn't personally.
RBS have the same account and their own separate £85k FSCS protection.1 -
No - I would split the ISA over multiple different financial institutions.
Even if you were just to split it in two, that would mean you won't have to worry about the FSCS limit for a very long time - possibly ever !1 -
The govt are a major shareholder in NatWest because they needed rescuing...2
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No I wouldnt.1
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there is no problem putting that into NatWest they are not going to fail1
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I would never put more than £85k into any financial institution.
1 -
Having endured the hassle of trying to set an ISA up with them , not sure I'd want to put £8.50 in an account of theirs.1
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Thanks very much everyone for very helpful replies, I wasn't aware that RBS had a separate comp scheme as I thought Natwest could come under the group umbrella. Thank you for this information which I take it accurate. I think the general consensus hereis to put anything above £85k into a different bank.fabsaver said:No I wouldn't personally.
RBS have the same account and their own separate £85k FSCS protection.
Thank you.0 -
If you want to be extra careful, then do not add as much as £85K as interest will be added at some point.anotherquestion said:
Thanks very much everyone for very helpful replies, I wasn't aware that RBS had a separate comp scheme as I thought Natwest could come under the group umbrella. Thank you for this information which I take it accurate. I think the general consensus hereis to put anything above £85k into a different bank.fabsaver said:No I wouldn't personally.
RBS have the same account and their own separate £85k FSCS protection.
Thank you.
On the other hand I would not be losing any sleep if I had £87K with NatWest.1
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