Fixed term bonds and money safety

Fen1

Ok, I understand about the 35k rule in savings accounts, but what about fixed bonds? If the bank or BS goes belly up during the term of my bond is my money safe over 35k? I don't really trust the thing of banks not going broke anymore - Barings?

Apologies for being a numpty.

whu

investments are protected to a higher amount - i think it is £48000 but a fixed 1 year bond would count as savings and you would only be protected for £35000 - i am sure someone with more knowledge could confirm the investment figure

dunstonh

Do you mean bonds or fixed term deposits?

Bonds (in their correct sense) come under the investments FSCS limits. Investment bonds come under life assurance FSCS limits. The fixed term deposits which some banks call bonds come under deposits FSCS limits.

I don't really trust the thing of banks not going broke anymore - Barings?

Barings didnt go broke. You will have a hard job naming the last UK retail bank that bust. (unless you spend some time googling and looking back in history).

RayWolfe

Oh, steady on dunstohn, there were quite a number in the 18th century.

ukdutypaid

Don't ever let it be said that this forum isn't educational..

"The Northern Rock crisis was the first significant run on a major bank since 1866 and the collapse of Overend, Gurney one of the biggest banks there had ever been." Over extended themselves and were caught with their pants down when the bubble burst, of the high tech of the time Dot com to Dot gone.... (Mixed metaphor record attempt there)

"shipyards and railways"

"As the news spread, restless crowds gathered on Lombard Street and the scene became one of panic."

RayWolfe

ukdutypaid wrote: »

... caught with their pants down when the bubble burst, of the high tech of the time Dot com to Dot gone....
(Mixed metaphor record attempt there)

A very successful attempt, I would say. Go to the top of the class.

Meltdown_2

ukdutypaid wrote: »

Don't ever let it be said that this forum isn't educational..

"The Northern Rock crisis was the first significant run on a major bank since 1866 and the collapse of Overend, Gurney one of the biggest banks there had ever been." Over extended themselves and were caught with their pants down when the bubble burst, of the high tech of the time Dot com to Dot gone.... (Mixed metaphor record attempt there)

Gibberish!
To keep the educational theme going, please quote your sources ...

earlgrey_3

ukdutypaid wrote: »

the first significant run on a major bank since 1866 and the collapse of Overend, Gurney one of the biggest banks there had ever been.

Ah yes, remember it well. Queued for 4 hours and got my 100 guineas out just in time.

dunstonh

Funny thing is Earlgrey, I can actually picture that

Meltdown_2

earlgrey wrote: »

Ah yes, remember it well. Queued for 4 hours and got my 100 guineas out just in time.

So that would make you the 3rd Earl Grey (Henry George) ....