How foolish is it...

[Burnham]

..to keep slightly more than the maximum insured funds in a single bank account (single bank License)?

I think the limit is £80k (please correct me if I'm wrong!). It would likley only be for the short term, circa 6 months, before I need to reinvest it, so I want to avoid opening another account with an entirely different bank ideally.

Its in the Halifax btw.

[Eric Mc]

Is Halifax going bust anytime soon?

[RemainAllHoof]

I'll help.



(Actually, I am trustworthy.)

[shakotan]

Worst "I've got a spare £100k lying around" post ever.

[Burnham]

Eric Mc said:

Is Halifax going bust anytime soon?

Hope not, but I wouldnt have expected Northern Rock to have gone pair shaped either!

RemainAllHoof said:

I'll help.



(Actually, I am trustworthy.)

..funny, cos you were going to be my 2nd choice if Halifax didnt want it

shakotan said:

Worst "I've got a spare £100k lying around" post ever.

I thought this would have been the 1st response, and really you should be telling me to buy a Gallardo with it....PH is not what it used to be! Its not 100k sadly, but I think its right on the safe limit. Its nice to have it, but I now dont have a house either...

[RemainAllHoof]

Burnham said:

RemainAllHoof said:

I'll help.



(Actually, I am trustworthy.)

..funny, cos you were going to be my 2nd choice if Halifax didnt want it

I thought so. The Hippofax ad campaign is going well.

Burnham said:

shakotan said:

Worst "I've got a spare £100k lying around" post ever.

I thought this would have been the 1st response, and really you should be telling me to buy a Gallardo with it....PH is not what it used to be! Its not 100k sadly, but I think its right on the safe limit. Its nice to have it, but I now dont have a house either...

Worst I've-just-sold-a-really-cheap-house thread in the world ever.

[Burnham]

RemainAllHoof said:

Worst I've-just-sold-a-really-cheap-house thread in the world ever.

It wasnt a cheap house, I just had very little equity in it!

[RemainAllHoof]

Burnham said:

It wasnt a cheap house, I just had very little equity in it!

I guessed as much. Stop ruining my joke and I'll stop ruining your thread.

[Burnham]

RemainAllHoof said:

Burnham said:

It wasnt a cheap house, I just had very little equity in it!

I guessed as much. Stop ruining my joke and I'll stop ruining your thread.

Ha, you carry on! Hey, maybe you could give me some advice too?!

[northandy]

I don't see the Halifax going bust in the next 6 months so I wouldn't worry.


Maybe after 7 months though

[ukshooter]

Why not take a punt and buy some premium bonds with the excess? Probably get a better return over the 6 months than the bank interest anyway! No new account opening needed, just a short form and a cheque.

Sorry for spoiling thread with serious answer

[Burnham]

ukshooter said:

Why not take a punt and buy some premium bonds with the excess? Probably get a better return over the 6 months than the bank interest anyway! No new account opening needed, just a short form and a cheque.

Sorry for spoiling thread with serious answer

I had thought about this for the whole lot, but heard mixed opinions. Certainly more fun than leaving it in the bank anyway I guess. What's the most you can invest? Is it quite easy to get the funds back out (they just send a cheque back?)

Thanks

[Burnham]

£30k max...maybe it's worth a shot!

[ukshooter]

Typically will take about 10 days to get money back. You've already seen the £30k max limit.

[matsmith]

Burnham said:

I think the limit is £80k (please correct me if I'm wrong!)

Okay, the limit is £85k.

[Eric Mc]

[quote]I wouldnt have expected Northern Rock to have gone pair shaped either!
[/quote]

Pear Shaped





Pair Shaped

[Burnham]

Nice one, cheers Matt.

And thank you too Eric