Alliance & Leicester In Trouble?

Kitchener

I've seen reports that A&L are in trouble and may be the next Northern Rock. Any truth to these rumours?
If so, what advice regards money in savings accounts with them?

Liz_the_Whizz

I hope there aren't going to be too many more rumours about banks in trouble.

My mattress is so stuffed full of the money I've queued up to withdraw from savings accounts that my nose is nearly touching the ceiling;)

tawse57

Ben Bernanke said yesterday that some banks will go bust before this credit crisis is over.

free4440273

tawse57 wrote: »

Ben Bernanke said yesterday that some banks will go bust before this credit crisis is over.

Welcome to reality Ben:rotfl:. And Mr Bernanke's next thesis will be on....'How the Dollar could collapse' :rotfl:

adgupta

Al_Mac wrote: »

Do you have more than 35k with them?

Is it 35k per account or 35k per customer?

I have got two savings accounts with them - one ISA and the other online eSaver. Each account has less than 35k, but combined I have more than 35k with A&L. Is my deposit protected under FSCS?

Thanks,
adgupta

purch

Any truth to these rumours?

:eek:

Yeah, like this Forum would be the first place they would announce anything !!!

BenL

Its per financial institution, so neither

http://www.moneysavingexpert.com/savings/safe-savings

Martins article goes through it.

Some accounts are run by banks for a non financial company e.g Sainsburys so these come under the banks £35K.

As it stands you would lose some of your money.

If you are worried shift your excess to another institution.

There are better deals anyway elsewhere.

macgyver

adgupta wrote: »

Is it 35k per account or 35k per customer?

I have got two savings accounts with them - one ISA and the other online eSaver. Each account has less than 35k, but combined I have more than 35k with A&L. Is my deposit protected under FSCS?

Thanks,
adgupta

It is 35k per customer per institution (not Bank)

HTH

Liz_the_Whizz

BenL wrote: »

There are better deals anyway elsewhere.

Despite its constraints, you have to look hard to do better than the eSaver @ 6.5% - only the even dodgier banks offer more;)

PBA

Kitchener wrote: »

I've seen reports that A&L are in trouble and may be the next Northern Rock.

And what's the problem with that? It was the savers withdrawing their money from NR that caused the major problems, otherwise they were doing just fine (with Govt assistance).

The Govt have just proven with NR that they're not going to let a British bank go to the wall, the "trouble" people refer to is that some banks might make millions, rather than their usual billions, this year

Stavros_3

Its scaremongering headline posts like this that causes rumours to spread around the www like wildfire, I've more than 35k in the A & L which I am quite comfortable with.