Mizrahi Tefahot Bank Ltd

Bostonerimus1

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

masonic

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

The main lesson to learn from the Icelandic bank debacle is to make sure you stick with FSCS protected accounts. Which is rather the point of this thread. It seems like we are in the descent to scaremongering. People do not need to accept the derisory rates offered by the big banks in order to sleep at night. If the FSCS fails, then nobody's money will be safe.

Eyeful

masonic said:

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

The main lesson to learn from the Icelandic bank debacle is to make sure you stick with FSCS protected accounts. Which is rather the point of this thread. It seems like we are in the descent to scaremongering.

Do not forget
New Cross Building Society & Northern Rock!
Both the above happened, those two were not scaremongering!


Gordon Brown at lest did one good thing.

masonic

Eyeful said:

masonic said:

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

The main lesson to learn from the Icelandic bank debacle is to make sure you stick with FSCS protected accounts. Which is rather the point of this thread. It seems like we are in the descent to scaremongering.

Do not forget
New Cross Building Society & Northern Rock!

Gordon Brown at lest did one good think.

Yes, and there are numerous failures that require FSCS assistance every year, plus others that get absorbed into other firms. Mainly credit unions and investment firms.

Sea_Shell

Maybe don't have all your nuts in one basket.

Bury them in a variety of different places 😉

Just in case they aren't available when you're hungry.

🐿️🐿️

Bostonerimus1

masonic said:

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

The main lesson to learn from the Icelandic bank debacle is to make sure you stick with FSCS protected accounts. Which is rather the point of this thread. It seems like we are in the descent to scaremongering. People do not need to accept the derisory rates offered by the big banks in order to sleep at night. If the FSCS fails, then nobody's money will be safe.

Yes the lack of protection is a difference, but a similarity is using interest rate as the primary factor in choosing an institution rather than familiarity and history of the brand. My primary criteria would be confidence in the bank and customer service and I'd give up a bit of interest rather than going with a relatively unknown institution even with FSCS protection.

friolento

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

Nobody in the UK permanently lost any money in the Icelandic debacle, did they? 

IIRC, the FSCS cover has also improved substantially since 2008, as has people’s understanding of the importance of it. Back in the financial crisis, many of us were still in the “banks are as safe as houses” mindset

Bostonerimus1

friolento said:

Bostonerimus1 said:

subjecttocontract said:

Bostonerimus1 said:

miss_curly said:

I'm a new investor having recently been left some money.

I see Mizrahi Tefahot Bank Ltd mentioned one MSE and via Raisin. I'm not familiar with the bank and wondered if I can really trust that its covered by the FSCS guarantee ?

Does anyone have experience of this bank please and especially if accessed through Raisin?

Looking for reassurance I guess

Seriously? why would you even consider this when Halifax etc is around the corner?

I would have thought that was obvious....... Halifax are paying a lower interest rate.

...and there you have the reason why so many people get scammed. I'm not saying that this bank is a scam, but people are often bad at assessing risk. Just ask anyone who had an Icelandic saving account.

Nobody in the UK permanently lost any money in the Icelandic debacle, did they? 

IIRC, the FSCS cover has also improved substantially since 2008, as has people’s understanding of the importance of it. Back in the financial crisis, many of us were still in the “banks are as safe as houses” mindset

It comes down to comfort and being able to sleep well at night, so I would use a well known UK institution with a track record of good customer service rather than a new to me Israeli bank. Not everyone will agree with me.

Eyeful

From what I remember the Icelandic Depositors Guarantee Fund did not have sufficient to compensate the UK savers who have their savings with Landsbanki went into receivership. If it was not for Gordon Brown, then those savers would have lost money.

masonic

Eyeful said:

From what I remember the Icelandic Depositors Guarantee Fund did not have sufficient to compensate the UK savers who have their savings with Landsbanki went into receivership. If it was not for Gordon Brown, then those savers would have lost money.

That's correct, the political decision made was to use the money for residents and not seek financial support to meet obligations to foreigners. The UK govt also seized control of Kaupthing Edge and transferred it to ING Direct. A very creative use of anti-terror legislation IIRC.