Seriously!!!!??

[scooterscot]

Two of my banks have posted / informed me with the message below. We're about to send the proceeds of our sale back to our Euro account. And now the UK introduces capital flight restrictions

No bank runs until I get my money out.

From 9am on Tuesday 15th January, there will be a 10,000 GBP limit on transfers to and from the UK. British MPs are voting on the UK Brexit deal, so the exchange rate may be volatile. We expect to remove this limit by 12pm on Wednesday 16th.

[tazdevil]

Typical for banks in that when its dodgy for you they're happy to take your money but when its dodgy for them not so much

[original PM]

Yeah I remember having a conversation with my bank manager

they seem to get the impression it is their money and not yours

[TwoWolves]

Yeah I remember having a conversation with my bank manager

they seem to get the impression it is their money and not yours

There are economists that argue that it is indeed theirs.

[Lance]

There are economists that argue that it is indeed theirs.

when you deposit in a bank you are lending them the money. It becomes their money, but they owe you the same amount back. If they can't afford to pay, you rely on the government under the FSCS to cover your loss.

So yes, it's their money.

[Hobosapien]

Yup, you're now legally just a creditor. Hence the risk of 'bail-ins' for amounts over the FSCS limit.

[scooterscot]

Yup, you're now legally just a creditor. Hence the risk of 'bail-ins' for amounts over the FSCS limit.

Well over the FSCS limit.

[Mordac]

Two of my banks have posted / informed me with the message below. We're about to send the proceeds of our sale back to our Euro account. And now the UK introduces capital flight restrictions

No bank runs until I get my money out.

Are you quite sure this is the best time to be converting Sterling to Euros? Perhaps stick it in Gold for a few months until things settle down? You can (I believe) move Gold around quite easily and sell it in Euros when you need the cash.

[Mordac]

Yeah I remember having a conversation with my bank manager

they seem to get the impression it is their money and not yours

It's their money, until it become Jeremy Corbyns money...

[tomtomagain]

What you need is some sort of "virtual" currency to allow you to change your "Fiat" into tokens back again in a different location.