All savings being withdrawn - tomorrow.

[minghis]

I have a very strange feeling about this whole banking/credit thing, so tomorrow I am going into town and I am withdrawing all my savings and ISA's from my Bank. Yes, I know it's 'protected' to a certain level but I wonder how long it'll take to actually get the money back if my bank folds - more than a while I reckon.

Is anyone else doing the same?

[funk odyssey]

minghis said:

I have a very strange feeling about this whole banking/credit thing, so tomorrow I am going into town and I am withdrawing all my savings and ISA's from my Bank. Yes, I know it's 'protected' to a certain level but I wonder how long it'll take to actually get the money back if my bank folds - more than a while I reckon.

Is anyone else doing the same?

where do you live?

[rfn]

So you actually WANT the building societies to collapse? Good work.

[Mc Lovin]

This is exactly what causes problems, like people panic buying at the petrol stations and supermarkets

[Timmy35]

If you let us know the bank and the time we'll all come along to mug protect you on your way home

[bigandclever]

Give us your address I'll give you a lift back from the bank.

[A1GOY]

All my affairs are in a local building soc - they only operate and invest within 30 ish miles of home. Hopefully should be ok...

[Einion Yrth]

I have this strange feeling that idiots like the OP will cause a run on the bank and drag down the entire economy thus making the cash they have withdrawn effectively worthless - good call.

[bigTee]

Panic withdrawals = we are all fked. Leave it where it is man.

[maix27]

minghis said:

I have a very strange feeling about this whole banking/credit thing, so tomorrow I am going into town and I am withdrawing all my savings and ISA's from my Bank. Yes, I know it's 'protected' to a certain level but I wonder how long it'll take to actually get the money back if my bank folds - more than a while I reckon.

Is anyone else doing the same?

Good plan Batman.

Let's just prey everyone else doesn't do the same.

You want to make sure your household insurance covers monetry theft too. Word gets out you have a stack of cash, mr robber might come calling.

[Davi]

minghis said:

Is anyone else doing the same?

No. If you're worried and have more than 50k in one account, or 100k in a joint account, why not just redistribute it amongst a few banks and say National Savings?

[Jinx]

On a similar note - I have a fair amount of debts spread amoung different financial institutions. Which bank or building society is most likely to go under so I can transfer all my debt to them?

[Zod]

Doing this would be sheer imbecility. If you want to find that your withdrawn savings have become worthless, then go ahead and encourage all your friends. If you want still to have some real money at the end of this, then leave the savings where they are (unless you were stupid enough to put them somewhere like Icesave, in which case it's too late).

[OJ]

minghis said:

I have a very strange feeling about this whole banking/credit thing, so tomorrow I am going into town and I am withdrawing all my savings and ISA's from my Bank. Yes, I know it's 'protected' to a certain level but I wonder how long it'll take to actually get the money back if my bank folds - more than a while I reckon.

Is anyone else doing the same?

I take it you're going to bury it in a pit somewhere... oh no wait, perhaps keep it under your mattress!

[Reidy10_0]

I heard the banks in Ireland are giving a 100% guarantee on savings.

[Irish]

All muppets are doing the same.

Like Northern Rock - people lined up to withdraw £500 causing panic.

Do you have more the £50K? Then salt.

If not save the petrol money.

SHEEEESH. END RANT

[Einion Yrth]

Jinx said:

On a similar note - I have a fair amount of debts spread amoung different financial institutions. Which bank or building society is most likely to go under so I can transfer all my debt to them?

And when dodgyloans inc. buys up the banks' debt books and sends the boys round, what then?

[Mc Lovin]

you do realise you posted this on a forum dont you. You now need to weigh up wether you'd rather chance it where it is, or see if you can make it home.

[Silent1]

Imagine if mortgage companies did the same; you're paying now, but what if you stop paying, rather than risk finding out we'll take your house away.

[HRG]

Stop... If you're concerned, put it in the Post Office. They use an Irish bank therefore the whole amount is protected