Mega doomed - it could be you

[Ruprect]

Russian roulette - bank style:

http://news.bbc.co.uk/1/hi/business/7569903.stm

Spread your risk!!

[Xenophon]

Doomed, y'all.

[DimPrawn]

I've got £35K with Capital One savings (US bank, FSA protected here). Do you think it might be prudent to fetch the money out and put it somewhere else?

I've got so many bank accounts at £35K it's getting silly and I'm running out of FSA protected banks.

[TykeMerc]

I've got £35K with Capital One savings (US bank, FSA protected here). Do you think it might be prudent to fetch the money out and put it somewhere else?

I've got so many bank accounts at £35K it's getting silly and I'm running out of FSA protected banks.

My understanding is if the bank falls into the protection scheme the country of origin of the bank is irrelevant. You probably know better than many of us which are in the protection scheme as you've no doubt researched it.

[DiscoStu]

I've got £35K with Capital One savings (US bank, FSA protected here). Do you think it might be prudent to fetch the money out and put it somewhere else?

I've got so many bank accounts at £35K it's getting silly and I'm running out of FSA protected banks.

Stick the rest in Northern Rock, IIRC any amount deposited there is guaranteed by the Treasury.

[Xenophon]

You probably know better than many of us which are in the protection scheme as you've no doubt researched it.

Gaaaawd, don't pander to DP's ego, Tyke!

The fishy one is a veritable threaded for 2008 as it is!

[DimPrawn]

Thing is no one has ever claimed the £35K when a bank goes bust, so how likely is it to actually work in practice?

More likely it will take 10 yrs to get your money and it will be a postcode lottery.

I'd rather not risk it if I can.

And Northern Rock, how far do you trust the government to protect the savers beyond the £35K limit?

[moorfield]

Lehmans.

[KentPhilip]

Thing is no one has ever claimed the £35K when a bank goes bust, so how likely is it to actually work in practice?

More likely it will take 10 yrs to get your money and it will be a postcode lottery.

I'd rather not risk it if I can.

And Northern Rock, how far do you trust the government to protect the savers beyond the £35K limit?

Very wise advice.

[Bob Dalek]

The £35k thing: agreed, no way will everyone be paid if too many claim. Apart from ministers, naturally.