New banks.

[Deleted User]

refluxer said:

[Deleted User] said:

ATOM  Bank looks good deal?
1 year fix and can add cash??

Atom are great - I've had a number of fixed rate accounts with them in recent years (as well as their Instant Saver easy access account) and never had any problems. 

You just need to ensure you don't let your phone's Android or iOS operating system get too far out of date in order that it can still run the app, as Atom don't have an online banking website.

Their fixed rate accounts have a 7 day funding window.

Maybe go for one then.
Funny you mentioned  the Phone l have 3 mainstream bank app and although  my phone is only a year old l feel its getting glitchy,  if that's a word.

Shylock_249

friolento said:

Check that 

1. they are on the FCA Register and 
2. are offering FSCS protection
3. that you are on their actual website / use their app from an official app store, rather than a cloned site.

Note, there are about a dozen others offering better rates than Streambank

Shouldn't one also look to see if the bank is linked to another bank/bs especially if you are saving in more than one, let's say two where if the worst came to the worst and and they both went bust you'd only get back a maximum of 85k even if you had 85k in each.  Doesn't the same apply to mergers but I believe in that case  the banks/bs give notice so you'd be able to move your money?

friolento

Shylock_249 said:

friolento said:

Check that 

1. they are on the FCA Register and 
2. are offering FSCS protection
3. that you are on their actual website / use their app from an official app store, rather than a cloned site.

Note, there are about a dozen others offering better rates than Streambank

Shouldn't one also look to see if the bank is linked to another bank/bs especially if you are saving in more than one, let's say two where if the worst came to the worst and and they both went bust you'd only get back a maximum of 85k even if you had 85k in each.  Doesn't the same apply to mergers but I believe in that case  the banks/bs give notice so you'd be able to move your money?

Yes, if you are lucky enough to have more than £85k to worry about. Though it is very rare that two companies share the same licence, and there are not a lot of sensible reasons for holding more than £85k in cash.

Albermarle

[Deleted User] said:

refluxer said:

[Deleted User] said:

ATOM  Bank looks good deal?
1 year fix and can add cash??

Atom are great - I've had a number of fixed rate accounts with them in recent years (as well as their Instant Saver easy access account) and never had any problems. 

You just need to ensure you don't let your phone's Android or iOS operating system get too far out of date in order that it can still run the app, as Atom don't have an online banking website.

Their fixed rate accounts have a 7 day funding window.

Maybe go for one then.
Funny you mentioned  the Phone l have 3 mainstream bank app and although  my phone is only a year old l feel its getting glitchy,  if that's a word.

It is a word   

Malchester

friolento said:

Shylock_249 said:

friolento said:

Check that 

1. they are on the FCA Register and 
2. are offering FSCS protection
3. that you are on their actual website / use their app from an official app store, rather than a cloned site.

Note, there are about a dozen others offering better rates than Streambank

Shouldn't one also look to see if the bank is linked to another bank/bs especially if you are saving in more than one, let's say two where if the worst came to the worst and and they both went bust you'd only get back a maximum of 85k even if you had 85k in each.  Doesn't the same apply to mergers but I believe in that case  the banks/bs give notice so you'd be able to move your money?

Yes, if you are lucky enough to have more than £85k to worry about. Though it is very rare that two companies share the same licence, and there are not a lot of sensible reasons for holding more than £85k in cash.

It is quite common for more than one company to share the same licence as many banks / financial institutions are linked, more than you think. Also remember that if you have accounts through Raisin or other savings platforms money in any banks through them have to be included appropriately

Barkin

friolento said:

Shylock_249 said:

friolento said:

Check that 

1. they are on the FCA Register and 
2. are offering FSCS protection
3. that you are on their actual website / use their app from an official app store, rather than a cloned site.

Note, there are about a dozen others offering better rates than Streambank

Shouldn't one also look to see if the bank is linked to another bank/bs especially if you are saving in more than one, let's say two where if the worst came to the worst and and they both went bust you'd only get back a maximum of 85k even if you had 85k in each.  Doesn't the same apply to mergers but I believe in that case  the banks/bs give notice so you'd be able to move your money?

there are not a lot of sensible reasons for holding more than £85k in cash.

Lots of reasons aren't necessary - one's sufficient. 

What should an eminently sensible, but risk averse individual do with amounts >£85k?

Hookers & gin? 

gravel_2

With present interest rates now is not an awful time to hold cash...