Is carpetbagging stilla possibility for Britannia?

Testee · 4 November 2004 at 12:14AM

Several years ago when carpetbagging was a popular thing to do, I invested money in several of the building societies and got a few allocations of shares which was all well and good.

I still have money sitting in a Britannia Savings Account (earning virtually no interest!!!) and what I what to know is what are the feelings out there - do you think it's going to be worthwhile leaving it there, is there ever the chance of some shares getting allocated or am I just wasting my time and losing interest.

MA_10 · 4 November 2004 at 1:44AM

Or Anywhere else!!! The subject used to be in the papers every other week a few years back now all activity has died down!!!

Prehaps MSE members should join together and see what we can make happen

While im on the subject has anyone got any ide what the value of the Standard Life payout is likely to be???

Thks

MJSW · 4 November 2004 at 2:50AM

I'd definitely leave it in if I were you. If you only leave £100 there, it won't matter much that the interest is bad. If you're worried about the loss in interest you could switch to a better acount, eg the Easysaver pays 2.6% gross on £100 (and there's a 1% bonus on top for the first 3 months).

Even compared to the best rates available, you'd only be losing around 3% gross, or £2.40 a year after basic rate tax. Given that any windfall is likely to be at least £500 and possibly considerably more, I'd say that's a reasonable gamble. As long as they convert in the next 200 years, your windfall is likely to be more than the lost interest! (ignoring compounding of the interest)

badmumof1 · 6 November 2004 at 12:39AM

do you think its worth opening an account in the hope that they may become a bank and dish out shares ??

Robert5988 · 6 November 2004 at 6:19PM

I think most of the Building Societies have closed the carpetbagger's charter for new customers - you sign away your entitlement when opening account.

steady__eddie · 7 November 2004 at 3:21PM

This is true but only for the first five years of membership in the majority of cases. I notice that regular saver accounts are about the best of the bunch as far as interest rates go at the moment so my current strategy is to save £25/month with the favourites. After 5 years, take 17 or 18 hundred quids AFTER opening a paid up shares account with £100.