Which instant access account for a decent sum ?
Discussion
Will the deposit be held in an individuals name? Or that of company, trust, pension etc?
We could offer 2.05 for a ninty day account? Realise you said 30 days but rates are minimal for that level of access. Any funds withdrawn without 90 days notice would lose 90 days interest, but the remaining balance would be unaffected.
We are part of RBS group, but have our own banking licence
We could offer 2.05 for a ninty day account? Realise you said 30 days but rates are minimal for that level of access. Any funds withdrawn without 90 days notice would lose 90 days interest, but the remaining balance would be unaffected.
We are part of RBS group, but have our own banking licence
Fair enough, as stable as we are we do have RBS lurking in the background as 100% owners.
Have you considered splitting the sum and placing with 2 or 3 banks to reduce the risk? You clearly think there may be further bad news to come, which if so is likely to effect more than just the state owned banks. I for one having had a really good look at Barclays accounts think it amazing that a group so dependent on its IB operation survived so well. Either that or they really did plan everything to perfection.
If it were me I would take the best rate HSBC were offering, wouldn't touch Santander with a barge pole.
Have you considered splitting the sum and placing with 2 or 3 banks to reduce the risk? You clearly think there may be further bad news to come, which if so is likely to effect more than just the state owned banks. I for one having had a really good look at Barclays accounts think it amazing that a group so dependent on its IB operation survived so well. Either that or they really did plan everything to perfection.
If it were me I would take the best rate HSBC were offering, wouldn't touch Santander with a barge pole.
I'm with hsbc and I'm getting 0.5% (I think) for instant access or if I lock it for 3 months they give 1.75% gross. Also with barclays and its similar.
I'm tempted by santander 2.75% instant access e-saver, what's so bad about them? They have the same credit rating as HSBC I think. Their current account says something about 5% but not sure how that works.
I'm tempted by santander 2.75% instant access e-saver, what's so bad about them? They have the same credit rating as HSBC I think. Their current account says something about 5% but not sure how that works.
Ah, now I understand the need for 100% security.
While not immune to value fluctuations, but secure none the less - Gilts?
Or for something a little different, do you have a mortgage? Use some of the
funds to reduce/repay your mortgage then remortgage to release equity when they find there new place.
While not immune to value fluctuations, but secure none the less - Gilts?
Or for something a little different, do you have a mortgage? Use some of the
funds to reduce/repay your mortgage then remortgage to release equity when they find there new place.
In theory Split it between different banks and joint account it.
The guarentee is £50k per person named on the account per banking licence.
Lloyds banking group have 6 licences
In reality if a big bank fails the you'll have more than your £500k to worry about as the whole of europe will be bust and have to be bailed out by china.
4.8 trillion debt and almost 50% of the uk being empolyed/supported by the government
And little uk industry actually making anything
The guarentee is £50k per person named on the account per banking licence.
Lloyds banking group have 6 licences
In reality if a big bank fails the you'll have more than your £500k to worry about as the whole of europe will be bust and have to be bailed out by china.
4.8 trillion debt and almost 50% of the uk being empolyed/supported by the government
And little uk industry actually making anything
Premium bonds. Unless they're some kind of Jonahs they're bound to get a few wins to offset the inflation loss, and I think £1m is the max holding allowed these days. Plus, premium bonds are old fashioned.
If I was them I'd spend at least half of it on riotous living, and the other half buying the nicest cottage in Calabria to live in.
Actually I'm lying. If I was them I'd buy a red LHD 599GTO, a click of real white, and a LV suitcase of summer clothes. Then point the car south and see what happens next. If, a year later, nothing had happened, I'd sell the 599, buy a Hayabusa, 2 rucksacks, and a click of Manali. Then head back down the road. If, a year later, STILL nothing had happened, I'd sell the Haya, buy 200 valium and a bottle of Bison Green Leaf vodka.
Alternatively, one could slowly fester to death-by-boredom somewhere in english suburban dullsville safe in a coccoon of debt-free life-by-proxy.........oi! Keef! Wearzatjoint??
....anyway, premium bonds. Dull, safe, easily bought and easily encashed. Plus, the enormous excitement of checking for wins, and, with a large purchase, the strong likelihood of some (albeit small) wins actually happening.
If I was them I'd spend at least half of it on riotous living, and the other half buying the nicest cottage in Calabria to live in.
Actually I'm lying. If I was them I'd buy a red LHD 599GTO, a click of real white, and a LV suitcase of summer clothes. Then point the car south and see what happens next. If, a year later, nothing had happened, I'd sell the 599, buy a Hayabusa, 2 rucksacks, and a click of Manali. Then head back down the road. If, a year later, STILL nothing had happened, I'd sell the Haya, buy 200 valium and a bottle of Bison Green Leaf vodka.
Alternatively, one could slowly fester to death-by-boredom somewhere in english suburban dullsville safe in a coccoon of debt-free life-by-proxy.........oi! Keef! Wearzatjoint??
....anyway, premium bonds. Dull, safe, easily bought and easily encashed. Plus, the enormous excitement of checking for wins, and, with a large purchase, the strong likelihood of some (albeit small) wins actually happening.
Edited by groak on Thursday 18th November 00:36
custardkid said:
The guarentee is £50k per person named on the account per banking licence.
Lloyds banking group have 6 licences
I didn't know that - does that mean you could have £300K with "Lloyds" or does it have to be with different Lloyds group companies?Lloyds banking group have 6 licences
custardkid said:
In reality if a big bank fails the you'll have more than your £500k to worry about as the whole of europe will be bust and have to be bailed out by china.
I told my Mum that when we tried to pull her ISAs togther which would have put her over £50K in one place and she thought I was some kind of lunatic. Deva Link said:
Ribol said:
Deva Link said:
........or does it have to be with different Lloyds group companies?
FSCS limit goes up to €100k at the end of the year so that should keep your mum happy
Sorry know nowt about banking as such, just throwing in a link.
Egg.com
2.50% gross pa/AER variable - includes a 12 month fixed bonus rate of 2.00% gross pa/AER from the date you open your account. No interest payable on balances over £1,000,000 during the first 12 months.
Then move to our underlying internet rate for this account; currently 0.50% gross pa/AER (variable).
No penalties for withdrawals.
http://new.egg.com/visitor/0,,3_11093--View_401,00...
Egg.com
2.50% gross pa/AER variable - includes a 12 month fixed bonus rate of 2.00% gross pa/AER from the date you open your account. No interest payable on balances over £1,000,000 during the first 12 months.
Then move to our underlying internet rate for this account; currently 0.50% gross pa/AER (variable).
No penalties for withdrawals.
http://new.egg.com/visitor/0,,3_11093--View_401,00...
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