Channel 4 news running a feature on risks of foreign banks

bristolleedsfan

during 7pm news

xiox

Interesting - I didn't know that the first 18k of Icesave accounts was guaranteed by the Icelandic regulators, not the FSA.

Stephenbw

And that the amount of compensation would be equivalent to over 30% of Iceland's GDP!

bristolleedsfan

I thought it was bizarre that Channel 4 made it the main feature story lasting 19 mins, me thinks UK authorities dont like all the billions of savings going into non UK Savings Providers at a time when some UK Savings Providers need all the funds they can get.

xiox

You get the impression the piece was organised by UK banks encouraging us to move our money back. Do the credit default swaps for the Icelandic banks actually mean they are more unsafe? They claim on their web pages they are very solvent.

chuckles1066

bristolleedsfan wrote: »

during 7pm news

Ah, so British banking institutions must be safer places to stash your cash?

Hang on, I keep hearing the words "Northern Rock"............

Patr100

It left me non the wiser. With innuendo from one side and reassurances from the Icelanders, still have no idea if their banks are actually stronger or weaker than many UK banks. If the "experts" can't agree than how is Mr Average going to know much better?

meatandtwoveg

What a load of old tosh, i do not have an account with the ICE Save people, but this is pure and utter scaremongering by the FSA.

They have caused the first run on a bank here in the UK, because Brown the clown introduced a three pronged system which does not work, and is run by clowns worse the the chief clown Brown.

The FSA want you to put all you cash in the British banks because they are in the !!!!!!, simple as that. The British banks are broke, and the Stalanist Goverment want you to put you cash in there f@cked up banking system.

This is media in the hands of the government, scare tatics, propaganda straight out of McFalls stupid dimwit of a mouth. I mean the guy is a joke.

I just cannot believe i just seen what i seen, if i were ICE Save i would look at the legal position of this programme, because it could be seen as illegal, if trying to pursuade the saver away from ICE Save using this type of propaganda?

xiox

What I don't understand is why the UK banks can't offer a competitive savings interest rate? Surely it's not that hard to set up a simple website based savings account. If other banks can rake in several billion of savings in a matter of months, couldn't they do the same? They must be able to make some money out of that, even if the interest rate is quite high. What's the rate they get lending money to other banks now?

1956

hi
i suspect Mr brown is not Your favourite politician then meatandtwoveg.LOL
i have a chunk of money in icesave and sleep very well at night. Been ripped off by british companies/banks (norwich union for example) worse!!!
"you pays your money and takes your chance!"

meatandtwoveg

xiox wrote: »

What I don't understand is why the UK banks can't offer a competitive savings interest rate? Surely it's not that hard to set up a simple website based savings account. If other banks can rake in several billion of savings in a matter of months, couldn't they do the same? They must be able to make some money out of that, even if the interest rate is quite high. What's the rate they get lending money to other banks now?

British banks = "GREED"