Which Banks are Safe?

[BEDROCK]

Well, seeing as banks are no better than devil worshipping money steeling hell holes.

 

What are the safest banks to store your hard earned cash with that have harboured very little controversy?

 

I am with Halifax so how do they stand among the rest, which banks are you with?

[aaron1867]

There isn't any need to be questioning our banks, because our economy is nowhere near as bad as other countries, so need to worry.

[Phanerothyme]

That's right, we didn't need to bail out any failing banks in the UK, never happened.

[mossdog]

That's right, we didn't need to bail out any failing banks in the UK, never happened.

Can't decide who is the biggest wind up merchant you or Aaron!

[L00b]

What are the safest banks to store your hard earned cash with that have harboured very little controversy?

Cooperatives and mutuals, I would imagine.

I am with Halifax so how do they stand among the rest, which banks are you with?

In the UK, been with Yorkshire for a long time (since late 90s, was with Midlands before that...but they peed me off once. ONCE ).

 

YB are Australian-owned these days, and they and their AU parent have been doing just fine.

 

No capitalisation issues, and minute (if any) exposure to PPI claims and such-like. They look after their long-term clients (i.e. me ) well, I find, and they're old-fashioned (read: careful) as banks go, probably what I like about them.

[mjw47]

LOOb, been with the Yorkshire since it was The Yorkshire Penny Bank back in the Fifties. Used them both privately & for a business I used to own. Agree with your points about them, having said which, now that a precedent has been set I'm not totally sure any banks are 100% safe. Love a precedent do politicians, 'it's been done before so must be OK' seems to be the mindset.

 

aaron1867, did you leave the 'no' out before the 'need' deliberately or was that a 'Freudian slip' ?

[FACEBOOK]

You guys leave cash in the bank? More than say £3000, Is that some kind of joke?

[L00b]

Agree with your points about them, having said which, now that a precedent has been set I'm not totally sure any banks are 100% safe

Northern Rock (for those with little memory of still-earlier failed banks, e.g. BCCI and others) was all the precedent needed in modern times.

 

That taught anybody who would pay enough attention, that no bank was safe, just as the global crisis was only starting.

 

If you need to bank mainstream, follow the ages-old Christian maxim, "God help those who help themselves", i.e. use several banks and keep small deposits in each, build some redundancy in your own financial affairs if the banks/Gvt won't do it for you

[mjw47]

LOOb. Agree with you ,but it isn't quite as simple as that as I'm sure you're aware, you have to ensure that the banks you use are not part of a group which isn't always obvious.

Savings in several different banks which are owned by the same holding company are counted as a single deposit for the purposes of ripping you off, sorry, I meant calculating whether or not your money is guaranteed.

[llamatron]

Its all unbelievable.

 

I am unaffected though as I have no savings:cool:

 

 

 

doh!