Who will survive ?

[IceBoy]

With the current economic situation, which of the banks are safe if any ?

Looking at the LSE this morning they are all in free fall again.

Is HSBC and Barclays the safer options ?

IceBoy

[rsv gone!]

If the figures shown on Panorama a couple of weeks ago were accurate, HSBC seemed to be the healthiest of the lot, with Barlclays not too far behind*. None are immune to a run, though.

• Based upon the proportion of loans to assets

[jamesuk28]

rsv gone! said:

If the figures shown on Panorama a couple of weeks ago were accurate, HSBC seemed to be the healthiest of the lot, with Barlclays not too far behind*. None are immune to a run, though.

• Based upon the proportion of loans to assets

Looks that way, HSBC are shown to have more in deposits than loans

[sb-1]

Thank god we bank with HSBC then.

[pgilc1]

sb-1 said:

Thank god we bank with HSBC then.

Unless you have over £35K in a single account or over £70K in a joint account, any major bank is as good as any other.

[Ash 996 GT2]

Abbey seems safe.

[pgilc1]

Ash 996 GT2 said:

Abbey seems safe.

So did HBOS.

[Deva Link]

If even one bank was allowed to default then all bets would be off anyway.

[zadumbreion]

Errrrrrr

I've been assuming that the idea of losing one's money only applied to private accounts.

If you have more than £35K in a business account (limited company) - could you lose that just as easily??

[Timmy35]

Other than the nationalised ones, the only bank that isn't a bank, is the safest IMO..... Nationwide.

[anonymous-user]

zadumbreion said:

Errrrrrr

I've been assuming that the idea of losing one's money only applied to private accounts.

If you have more than £35K in a business account (limited company) - could you lose that just as easily??

One i'd be interested in, not Ltd but business account, surely they don't expect businesses to fart around with their ££?? Or because it's a business account do they not guarantee anything?!

[oedo]

Small businesses that meet the criteria look to be covered by the FSCS

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

Doesn't mention specific amounts on that page but I'm guessing the business is treated as an 'individual' and there is cover the same as the £35k for personal cash deposits?

ETA: Sorry, noticed this applies to Co's only.

Edited by oedo on Wednesday 1st October 16:37

[zadumbreion]

oedo said:

Small businesses that meet the criteria look to be covered by the FSCS

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

Doesn't mention specific amounts on that page but I'm guessing the business is treated as an 'individual' and there is cover the same as the £35k for personal cash deposits?

ETA: Sorry, noticed this applies to Co's only.

Edited by oedo on Wednesday 1st October 16:37

Rather amusingly - or worryingly - I called NatWest to ask about this - and they plugged me into to some recorded message (!) talking about how certain (small) businesses MAY qualify for FSCS compensation of UP TO £35K if a bank were to go bust.

Hmmmm.

[anonymous-user]

zadumbreion said:

oedo said:

Small businesses that meet the criteria look to be covered by the FSCS

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

Doesn't mention specific amounts on that page but I'm guessing the business is treated as an 'individual' and there is cover the same as the £35k for personal cash deposits?

ETA: Sorry, noticed this applies to Co's only.

Edited by oedo on Wednesday 1st October 16:37

Rather amusingly - or worryingly - I called NatWest to ask about this - and they plugged me into to some recorded message (!) talking about how certain (small) businesses MAY qualify for FSCS compensation of UP TO £35K if a bank were to go bust.

Hmmmm.

Well that's set my mind at rest, not!

[oggs]

IceBoy said:

Who will survive

[IceBoy]

What is going on ?!

Since yesterday most banks have lost 30% of their share price and I'm guessing of their market capital ??

HSBC are the only ones up today !

IceBoy

[Timmy35]

Barclays and RBS shares got suspended, IceSave has gone into Administration. Just another day in the markets. Ho hum.

[Piglet]

Timmy35 said:

Barclays and RBS shares got suspended, IceSave has gone into Administration. Just another day in the markets. Ho hum.

Yep it's going great, I have HBOS shares that I shoud have flogged a year ago and two Icesave accounts that are currently locked down including the transfer OUT I'd set up for tomorrow....

...and I work in a property related industry!