Would you feel comfortable putting more than £85K with Natwest?

jaypers

Also bear in mind that the limit is per person, so if it is joint accounts the limit is £170k

Alexland

No, they would probably start sharing my account details with the BBC...

subjecttocontract

I don't understand why anyone would want to put more than £85k into Nat West. They don't have any accounts that pay outstanding returns........or is there something I'm missing ?

wmb194

subjecttocontract said:

I don't understand why anyone would want to put more than £85k into Nat West. They don't have any accounts that pay outstanding returns........or is there something I'm missing ?

It's offering 5.9% AER on a two year fixed rate bond for balances of £100k+ which is not bad for a high street name most people will be comfortable with vs 6.05% AER at the moment with the market leaders for the same duration.

phillw

By holding > £85k you are risking

https://www.bankofengland.co.uk/freedom-of-information/2021/questions-about-bail-in-and-customer-deposits

In line with the creditor hierarchy, deposits not protected by the FSCS would only be subject to bail-in if losses are so high that subjecting all of the shareholders and a number of debt-holders to bail-in would not be sufficient (for further detail see page 19 of the Executing-bail-in-an-operational-guide-from-the-Bank-of-EnglandOpens in a new window). This is because of the preference in the creditor hierarchy from which certain deposits, including those of retail depositors, benefit.

VKE

No I wouldn't; if I'm asking this Q then there must be an element of doubt floating around so that would answer my Q without asking a bunch of people I don't actually know about my own money 

phillw

VKE said:

No I wouldn't; if I'm asking this Q then there must be an element of doubt floating around so that would answer my Q without asking a bunch of people I don't actually know about my own money 

I think the doubt is something to do with Nigel Farage wanting an exclusive bank account.

anotherquestion

wmb194 said:

subjecttocontract said:

I don't understand why anyone would want to put more than £85k into Nat West. They don't have any accounts that pay outstanding returns........or is there something I'm missing ?

It's offering 5.9% AER on a two year fixed rate bond for balances of £100k+ which is not bad for a high street name most people will be comfortable with vs 6.05% AER at the moment with the market leaders for the same duration.

Thanks, this is the ISA I am on about two years at 5.9% which only needs a minimum of £1k

[Deleted User]

phillw said:

VKE said:

No I wouldn't; if I'm asking this Q then there must be an element of doubt floating around so that would answer my Q without asking a bunch of people I don't actually know about my own money 

I think the doubt is something to do with Nigel Farage wanting an exclusive bank account.

Coutts has it's own banking license so the OP wouldn't be placing funds with NatWest Bank.

Richard1212

I highly rate Coutts and my experience with them has been of the very highest degree of excellence, especially as I have no  controversial views that they might not like