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I just had an endowment pay out and am looking forward to (hopefully this year) building a long-awaited extension/loft conversion to my bungalow.

Where on earth do I put it for safe keeping in the meantime, bearing in mind the current situation with the Eurozone liable to crash spectacularly at any moment?

It's currently in a Santander saver account getting 2% interest but if it makes me feel safer, maybe I'll put it under the mattress? :lol:

Seriously folks, is Santander not a good idea (they're Spanish)? Someone told me that it's Santander-UK and really not a lot different to any other UK bank.

I have other banking with the Co-op, shall I just stick it in there?

Help!
 
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Mutual building society or premium bonds, I'd say.

All bank deposits are covered upto 50K in the UK, no?

If you've more then draw some out and put it in another bank.
 

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Morning Max, Nev:)

I had the same same problem in the 80`s.
Sought advice,ended up losig a third od my investments.
Then place faith in blocks of premium bonds,
which in truth have paid out on and off over the past years,
I still have fears of the finacial sector.to this day.

All the very best with quest.

John t L.
 

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RBS? 84% publicly owned. Surely that has to be safest? Rubbish interest rates but that is probably of secondary importance?
 

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Premium bonds for £30k. (that's where I'd start). If you put in less than £30k, then tick the box to automatically re-invest, that way you get more bonds when you win, rather than receiving cheques that you'll end up spending.

Your money will be safe in a UK bank up to £85k.

...the other thing to look at is if you have a flexible mortgage, then put the money into the mortgage or an offset account - it could save you quite a bit in mortgage payments in the future.
 

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I'll 'look after it' for ya, I'll PM my paypal details :thumbs:



:lol:
 
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Morning Max, Nev:)

I had the same same problem in the 80`s.
Sought advice,ended up losig a third od my investments.
Then place faith in blocks of premium bonds,
which in truth have paid out on and off over the past years,
I still have fears of the finacial sector.to this day.

All the very best with quest.

John t L.


Yike!

You're not the only one J, many people I know were
"advised" to invest and have ended up with less than
when they started.

Bet the "advisors" were okay though. :rolleyes:



Me? I just spend it. ;)
 

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But watch out for banks that are part of the same group, e.g. HBOS, so a Halifax account and a Bank of Scotland account may have your £85k 'shared' over the two accounts.
Yes - valid point, well made.

The term they use is "financial institution", in your example, you'd also have to include Lloyds, since they own HBOS.
 

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Yike!

You're not the only one J, many people I know were
"advised" to invest and have ended up with less than
when they started.

Bet the "advisors" were okay though. :rolleyes:



Me? I just spend it. ;)
Hi, Nev,
I still see the chap in his new Range rover.
Last Time out side the dentist
I thought of my past cash extractions, and the
inpending dental ones
Both placed a deep cavity in the old pocket.


John t l.
 

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You also have to be careful that where you put your money is indeed covered by the UK saver gaurantee, even if they appear to be British .

For example the post office is actually backed by the Bank of Ireland, and I am not sure the UK government would stump up compensation if that went bust.
Bradford and Bingley, as well as Abbey are owned by Santader, and you may not be covered there either.

My few quid is currently with ING and because they are dutch I am thinking of moving it to a British bank as I am not sure what their compensation rates are if the worst happens.
 

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You also have to be careful that where you put your money is indeed covered by the UK saver gaurantee, even if they appear to be British .

For example the post office is actually backed by the Bank of Ireland, and I am not sure the UK government would stump up compensation if that went bust.
Bradford and Bingley, as well as Abbey are owned by Santader, and you may not be covered there either.

Hi, Symon,
It`s a mine field out there
though I`m led too believe that
U.k.Gov; issue licence for
Santader,and as such you are covered
in the event of bank failure.

John t L.
 

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Good to see you back John :thumbs:



As for banks: Lebanese banks should be pretty solid, if today's (Dutch) newspaper is to be believed...
Hi, Al Faromeo,:)
Thank you kindly,
Funds anywhere away from the
pending upsets of the Euro
seem a good idea,
sleeping on a mattress of cash
might not be so rash as it sounds.

John t l.:eek:
 

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85k cash per institution FSCS > Deposit Limits

Lloyds Banking Group:
Lloyds TSB
Halifax
Bank of Scotland
C&G
St James's Place Bank

RBS group:
Royal Bank of Scotland
NatWest

Barclays:
Barclays Bank
Woolwich B/S

HSBC: on their own

Santander:
Santander
Abbey
Alliance & Leicester

Nationwide:
Nationwide b/s
Cheshire b/s
Dunfermline b/s
Derbyshire b/s
Portman b/s

Nothern Rock: on their own

Co-Operative group:
Co-Op bank
Britannia b/s

Plus there's all the other smaller ones - leeds b/s, norwich & peterborough etc



failing that there's always the highly-renowned bank of acapulco :thumbs:
 

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Nice couple of Rolex Iwearvestments) and a sorted classic Alfa (drivevestment):D

Sod investements in a bank etc. You could be dead tomorrow:(

Enjoy it while you can:)
 
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