Are these two banks ok

tele951

I was thinking of putting £30,000 in a bond with the london scottish bank and £20,000 in Anglo irish bank deposit account.Are the two ok

dunstonh

Didn't London Scottish breach their solvency requirements recently?

Mr_Mumble

Avoid London Scottish. They're currently not allowing depositors to close fixed-term accounts unless the bank considers it to be an "exceptional circumstance". Most recent FT report:
http://www.ft.com/cms/s/0/d0c0c7e6-c954-11dc-9807-000077b07658.html

tele951

Thank you dunstonh wont put money there then. I think I will go for B&B

10_66

Mr_Mumble wrote: »

Avoid London Scottish. They're currently not allowing depositors to close fixed-term accounts unless the bank considers it to be an "exceptional circumstance". Most recent FT report:
http://www.ft.com/cms/s/0/d0c0c7e6-c954-11dc-9807-000077b07658.html

Icesave fixed rate bond has the same clause.

Wolf_Man

I have had no problems with Anglo Irish Bank and have had a savings account with them for a year or so. I have now opened a bond with them.

Given that the bond is a very good rate, I was wondering why more people were not signing up for it? They are regulated by the FSA and you are covered by the compensation scheme.

[Deleted User]

No experience of london scottish but Anglo irish are fine, also think ICESAVE (lansbanki - iceland/guernsey) have good customer service with good bond rates.

gt94sss2

Mr_Mumble wrote: »

Avoid London Scottish. They're currently not allowing depositors to close fixed-term accounts unless the bank considers it to be an "exceptional circumstance". Most recent FT report:
http://www.ft.com/cms/s/0/d0c0c7e6-c954-11dc-9807-000077b07658.html

Are you sure?

The article actually says

Depositors are unable to withdraw their money, which is in fixed-term accounts, except in exceptional circumstances, so the bank has not suffered a run on its balances.

which is normal for most fixed rate bonds.. with any bank.

Regards
Sunil