Stay or move from the Bradford+Bingley?

freddysmith

campins wrote: »

I might take up their third issue internet saver offer, what do you think

I have recently applied (opened for £1) , seems a good rate for easy access through BACS.
Go for it, but keep an eye on rates from time to time to benifit from higher/better interest rates from other Banks & BS.
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equitydealer

B&B are safe (for savers...not shareholders)

1) The Government set a precedent with Northern Rock - no UK bank or building society can go bust. How can could they treat B&B depositors differently from Northern Rock's?

2) The FSA and Bank of England arranged a deal with Texas Pacific Group for them to inject £200m into Bradford and Bingley 2 weeks go

http://www.economist.com/world/britain/displaystory.cfm?story_id=11637431

3) The FSA and Bank of England 'encouraged' the big 5 UK banks to buy £100m of B&B shares in the rights issue

http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/06/10/cnbradford110.xml

4) It would be political suicide to let B&B go bust and for depositors to lose their savings (>£35k of course)

Stourbridge_Steve

I have had some savings with Bradford & Bingley at my local branch for over 13 years. To be honest they took over my previous building society branch. Its entirely my fault that I have not until now tried to move my savings with them to higher, better interest accounts. But I called them yesterday and went round hoping simply to move my funds to their new better ones. Simple internal transfers reducing paperwork and penalties? Wrong!. No they wont move to anything other than a bond without penalties and no they dont have access to any of the internet rates so I would have to settle for about 1.5% less than I could otherwise obtain. Essentially they seem to operate as 2 or 3 separate companies. I have verified this with them by email. So I am shifting all my savings to someone who appreciates them tomorrow.

campins

Sh********t :eek: :eek: :eek: :mad: http://news.bbc.co.uk/1/hi/business/7488945.stm

amcluesent

LOL, the rescue has been rescued.:eek:

TPG backed away from providing the new money after Moody's, the credit rating agency, decided it was downgrading the debt of Bradford & Bingley.

Peston says the City institutions behind the rescue are the ones that were behind Clive Cowdery's recent attempt to take control of B&B!

Banking sector should be wiped out when the FTSE opens, I expect the HBOS offer will be under water...

Banderman

another dodgy bank gets its comeuppance. ah well, that's life

campins

It's the best rate payer I can find with instant access :mad:

campins

33.5p per share at close of business today :mad:

campins

This is a nail in the coffin if ever there was one ! http://www.economist.com/finance/displaystory.cfm?story_id=11692974&CFID=12428141&CFTOKEN=15912109