Checking bank stability etc

Jonny69 · 13-10-2008, 22:08

Is there anywhere I can check bank financial stability? Not exactly sure what I want to or can look up but I want to check my money is going to be safe and remain accessible. Basically opened an ING savings account and their money transfer system is a bit round-about. In the interim Icelandic banks have gone belly up and many other places are doing the same so my savings are sat in my current account waiting for me to do something with it.

Mark · 13-10-2008, 22:29

If you have much less than £50k, anywhere is safe. The worst you'll end up with is lost interest and a three-month wait to get at your money.

If you have more, spread your wealth around so that no one institution (not bank) holds more than £50k at any time, or shove it all in the Northern Rock or NS&I. The rate you get might suck, but your money is as safe as it gets in these times.

Matblack · 14-10-2008, 11:43

Any UK bank will be covered by the government as Mark says up to £50k, if you have more than that either spend it or give it to me

MB

Admiral Huddy · 14-10-2008, 11:49

ING is fine.. They are a member of the EEA scheme so you are safe up 50k or 100k depending on single or joint investment respectively.

All you need here:

http://www.fscs.org.uk/

chumpychops · 14-10-2008, 11:52

Quote:

Originally Posted by Jonny69

Is there anywhere I can check bank financial stability? Not exactly sure what I want to or can look up but I want to check my money is going to be safe and remain accessible. Basically opened an ING savings account and their money transfer system is a bit round-about. In the interim Icelandic banks have gone belly up and many other places are doing the same so my savings are sat in my current account waiting for me to do something with it.

To answer your question...another question - would any bank in their right mind say 'We're not safe'?

Sadly the first you'll hear is when your bank goes tits up. Just make sure that all your balances at below the guaranteed level and you'll be fine.

Pheebs · 14-10-2008, 12:37

Quote:

Originally Posted by Admiral Huddy

ING is fine.. They are a member of the EEA scheme so you are safe up 50k or 100k depending on single or joint investment respectively.

All you need here:

http://www.fscs.org.uk/

\o/

I was wondering about this the other day and had a minor panic.

As in.. I had a little panic myself. I didn't go find a child and make them panic.

*leaves thread*

Jonny69 · 14-10-2008, 22:05

Cool cheers. I think the problem is the 3 month wait and the interest loss in that order.

13-10-2008, 22:08	#1
Jonny69 Noob Join Date: Oct 2006 Location: Socialist Republik of Kent Posts: 5,032	Checking bank stability etc Is there anywhere I can check bank financial stability? Not exactly sure what I want to or can look up but I want to check my money is going to be safe and remain accessible. Basically opened an ING savings account and their money transfer system is a bit round-about. In the interim Icelandic banks have gone belly up and many other places are doing the same so my savings are sat in my current account waiting for me to do something with it. __________________

14-10-2008, 11:43	#3
Matblack Baby Bore Join Date: Jun 2006 Location: Svalbard Posts: 9,770	Any UK bank will be covered by the government as Mark says up to £50k, if you have more than that either spend it or give it to me MB __________________ "we had roots that grew towards each other underground, and when all the pretty blossom had fallen from our branches we found that we were one tree and not two"

14-10-2008, 11:49	#4
Admiral Huddy HOMO-Sapien Join Date: Jun 2006 Location: Chelmsford Posts: 6,692	ING is fine.. They are a member of the EEA scheme so you are safe up 50k or 100k depending on single or joint investment respectively. All you need here: http://www.fscs.org.uk/ __________________ I just got lost in thought.. It was very unfamiliar territory. Techie Talk \| My gaming Blog \| PC spec \| The Admirals log Last edited by Admiral Huddy; 14-10-2008 at 11:55.

14-10-2008, 22:05	#7
Jonny69 Noob Join Date: Oct 2006 Location: Socialist Republik of Kent Posts: 5,032	Cool cheers. I think the problem is the 3 month wait and the interest loss in that order. __________________

13-10-2008, 22:29	#2
Mark Screaming Orgasm Join Date: Jul 2006 Location: Newbury Posts: 15,194	If you have much less than £50k, anywhere is safe. The worst you'll end up with is lost interest and a three-month wait to get at your money. If you have more, spread your wealth around so that no one institution (not bank) holds more than £50k at any time, or shove it all in the Northern Rock or NS&I. The rate you get might suck, but your money is as safe as it gets in these times.