Are your savings safe? article discussion
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we obviously didn't think about it enough at the time. just worried about what to do now though.0
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Nicky555;
If you are worried, then look at UK/Ireland savings and transfer asap....0 -
ScottishItalian wrote: »Hi, my apologies if this has already been answered but I couldn't find it through the search engine. Are non resident expats covered by the 35k guarantee too? I spoke to my bank today but they don't seem to have a clue...
Thanks!
You may find out the answer here : http://www.fscs.org.uk/consumer/key_facts/
My reading of it suggests that it is deposits in UK banks that are covered, i.e. the deposit, not the depositor (but you'll need to check)...0 -
You are unlikely to receive anywhere near that rate in Europe - did you ask yourselves why the interest rate was so much higher than UK/European-based accounts, when depositing?
"Turkey's inflation-fighting central bank brought to an end a three-month raising cycle on Thursday, leaving its key interest rates unchanged. Turkish inflation is currently in double digits, due to higher food prices and energy prices."
http://uk.reuters.com/article/rbssIndustryMaterialsUtilitiesNews/idUKLF6532420080815
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high inflation? sounds like Iceland and India.
Indian inflation has risen to a new 13-year high, hitting shares and weakening the rupee.The wholesale price index rose to 11% in the 12 months to 7 June, up from the previous week's 8.75%. The inflation rate is now at its highest since 1995.
http://news.bbc.co.uk/1/hi/business/7465029.stm
Iceland's central bank raised its benchmark interest rate for the second time in three weeks to shore-up the krona and douse inflation.
The key rate was raised by a half point to 15.5pc - the highest in Europe.
www.telegraph.co.uk/finance/newsbysector/banksandfinance/2787958/Icelandic-interest-rate-hits-15.5pc.html0 -
The Iceland rise was in April 2008...0
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Is it because they're trying to get inflation under control so they can join the EU?
The Central Bank is attempting to hold or reduce rates in order to combat inflation, as I read the article.0 -
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As everyone is so confident the money is safe in the bank accounts why is the FSCS limit not increased? Also why is this amount not guaranteed by the government and not put at risk by the FSCS £4Bn limit.
Take Ireland as an example
http://www.finance.gov.ie/Viewtxt.asp?DocID=5466&StartDate=1+January+2008
If there is no risk as the money is safe why not do this to boost confidence. Or is the money in saving not so safe after all ?0 -
altocumulus wrote: »The Iceland rise was in April 2008...
Their inflation is 14% now
http://www.sedlabanki.is/?pageid=1940 -
TheBigQuestion wrote: »As everyone is so confident the money is safe in the bank accounts why is the FSCS limit not increased? Also why is this amount not guaranteed by the government and not put at risk by the FSCS £4Bn limit.
Take Ireland as an example
http://www.finance.gov.ie/Viewtxt.asp?DocID=5466&StartDate=1+January+2008
If there is no risk as the money is safe why not do this to boost confidence. Or is the money in saving not so safe after all ?
Well, Gordon has today stated that a £50,000 guarantee is being considered ... a bit of a climb-down from his Chancellor's views a year ago that the government needed to 'bite the bullet' which would require a guarantee of £100,000 ... but of course we are now living in a bankrupt economy with an even more bankrupt government.
Dave.... DaveHappily retired and enjoying my 14th year of leisureI am cleverly disguised as a responsible adult.Bring me sunshine in your smile0
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