£500,000 cash...

[bigee]

Just musing what with all the EU and banking shenanigans....If (and i have not !) you had said amount in cash,how best to 'protect' it ? Is it merely a matter of spreading it around enough different banks to keep each deposit under the 85k so called protected amount? What if you had more money than the 500k so that there was not enough uk banks to spread it? Oh,and for the sake of the thread lets assume you wanted to keep the money as cash and not invested...As i say just thinking aloud really,what to do to keep your cash safe?

[fido]

Barclays, Lloyds, RBS, HSBC, Nationwide - £85k in each. The rest in a low rate Building Society.

[Terminator X]

Under the matress? Interest rates from bank accounts is so low to make it pointless surely.

TX.

[fido]

I still think it's safer in a UK Bank than under the mattress where it could be stolen or destroyed accidentally.

[cuprabob]

fido said:

Barclays, Lloyds, RBS, HSBC, Nationwide - £85k in each. The rest in a low rate Building Society.

The Spanish bank omitted, I like your style:-)

[Fat hippo]

Premium bonds and UK government bonds if you had more

[GTRStage1]

Invest it in shares.

The only way you will be truly protected from inflation over time.

[RSoovy4]

http://www.bullionuk.com/products/gold/bars/400oz_...


12.5 kilos.

Easy to hide. Fungible. Mobile.

Half a million quid give or take.

[bigee]

GTRStage1 said:

Invest it in shares.

The only way you will be truly protected from inflation over time.

Fair point,but, i was merely asking re: cash holding? Is anywhere actually safe for physical cash?
Say 1 mill? seems crazy to have to spread that between say 11 banks/societys and even then i suppose its not protected should Dave and George fancy introducing a new tax....

[mrmr96]

bigee said:

GTRStage1 said:

Invest it in shares.

The only way you will be truly protected from inflation over time.

Fair point,but, i was merely asking re: cash holding? Is anywhere actually safe for physical cash?
Say 1 mill? seems crazy to have to spread that between say 11 banks/societys and even then i suppose its not protected should Dave and George fancy introducing a new tax....

You might want to put some of it abroad, i.e. beyond their grasp.

[RSoovy4]

bigee said:

GTRStage1 said:

Invest it in shares.

The only way you will be truly protected from inflation over time.

Fair point,but, i was merely asking re: cash holding? Is anywhere actually safe for physical cash?
Say 1 mill? seems crazy to have to spread that between say 11 banks/societys and even then i suppose its not protected should Dave and George fancy introducing a new tax....

Safety deposit box?

[bigee]

RSoovy4 said:

Safety deposit box?

you know what,that sounds like the only realistic way....crazy isn't it?

[RSoovy4]

bigee said:

RSoovy4 said:

Safety deposit box?

you know what,that sounds like the only realistic way....crazy isn't it?

Until the police get a warrant and bust it open.

Gold. Small, fungible, mobile.

[Amirhussain]

RSoovy4 said:

bigee said:

RSoovy4 said:

Safety deposit box?

you know what,that sounds like the only realistic way....crazy isn't it?

Until the police get a warrant and bust it open.

Gold. Small, fungible, mobile.

What if gold prices take a big drop?

[bigee]

Amirhussain said:

What if gold prices take a big drop?

and that in essence is where my mind is...whatever option you would take seems a risk, hence i though just keeping physical cash(even allowing for inflation..) would be 'safest'...question is where/how? Safe deposit box? Big safe? though not necessarily in a bank,after all you would be basically lending them your money for next to no return and have most of your funds at risk..hmmm....

[RSoovy4]

Amirhussain said:

RSoovy4 said:

bigee said:

RSoovy4 said:

Safety deposit box?

you know what,that sounds like the only realistic way....crazy isn't it?

Until the police get a warrant and bust it open.

Gold. Small, fungible, mobile.

What if gold prices take a big drop?

Well that's the risk you run. A better risk than you having loads of cash in your house and it burns down!! At least gold won't melT!!

[bigee]

Dammit Soov,never thought of that either !

[RSoovy4]

bigee said:

Dammit Soov,never thought of that either !

And if you ever have to do a runner, it goes in your pocket.

[bigee]

have you thought of this scenario before?

[eldar]

RSoovy4 said:

Fungible.

Excellent word