London Scottish Bank Probs

Wolf_Man

I was just about to apply for a bond from London Scottish Bank.

I tried the freephone number but no one answered, so I googled 'London Scottish Bank' it to see if the number was wrong.

I saw this come up http://www.reuters.com/article/rbssFinancialServicesAndRealEstateNews/idUSL2253122320080122

And a lot of other details about their share price falling.

Have I had a lucky escape? With a £13m shortfall, you would think that they would be sitting by the phone waiting for investors like me...

Rafter

Wolf Man,

Your money would still be protected by the savings guarantee, but the government might not be as quick to rush in to support a small bank like this than it was with say Northern Rock.

Personally I'd stick with a name you recognise and avoid anyone paying a savings rate that looks too good to be true. You might get lucky , but you might not and end up waiting years to get your money out - and loose interest while you are waiting too.

R.

Wolf_Man

Sounds like good advice, thank you.

10_66

Wolf_Man wrote: »

I was just about to apply for a bond from London Scottish Bank.

I tried the freephone number but no one answered, so I googled 'London Scottish Bank' it to see if the number was wrong.

...

Eeks. I took out a 1-year bond in November with them, so I just tried their freephone number but had no problems getting through. Worrying about the rest of the information though. Doesn’t seem fair that the Government will bale out some organisations but not others, if needed.

Wolf_Man

Was it easy to open an account with them? They certainly didn't answer the phone the times I tried.....But then I only have to phone a call center and their 'systems go down' are they all that unreliable or is it just me? whooooo...spooky

I have come a bit late to this forum, wish I had joined sooner, I now have all this money which I am trying to make secure...and so is everyone else.....waiting to pounce.. I mean if you not reading these forums, the way the bonds get snapped up, you haven't got a chance.

10_66

Yes, it was really easy. Just returned the application form with cheque and had the bond certificate more or less by return, it shows amount invested, interest rate applicable and date due to mature. I did ask them what would happen if bond was withdrawn whilst application in post, and they said they'd honour it.