I know they are in the Irish protection scheme and in the UK one (FSCS). But would having 2 protection schemes just make it harder to get compensation, with each one sending me to the other.
Is having 2 protection schemes twice as safe or twice as risky?
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- Protection When You Have Savings And Debt With One Bank?
- How Can I Have Multiple Cds And Savings In A Bank And Still Be Fdic Safe?
- Which Is Good A Deposit In A Bank Or A Post Office Savings Scheme ?
Trust none of them.
Keep it under the bed these days is my thoughts.
Up to £50,000 is guaranteed on each account, so if you have £50,000 in your account, only ONE scheme will pay out on it. If you have MORE than £50,000 you can’t use both schemes for the one account. It’s best to divide your savings between more accounts to have a better chance of getting more of your money back.
nothing guaranteed nowadays but don’t exeed the linit that the government announced to protect in your country if you have more put the money in more than one bank to distribute the risk. Find out in your bank what is the manimum amount guaranteed by the government.
The Irish government recently “guaranteed” more money than the whole of the Irish economy, it’s very unwise to trust them I’d say.
Hobsons choice six of one and half a dozen of the other.
It’s safer than under your mattress.
“I say Paddy me boy, I can see your drive needs some work doing to it, ken yu see the dips and the way its draining into your brickwork. I can do you a nice job there and you’ll be well an truly pleased with it. When would you like me to start??”
“I say Paddy me boy, ken yu see yu way clear tu lending me a foiver??”.
Well that’s the backdrop and if you’ve never pushed your cash there before is it a good time to start now?
Anglo Irish are doing a Fixed Rate 1 year Bond now at 5% . Are you paying tax at std rate? Inland Rev form 85 could be relevant particulary in the case of a wife for gross interest.
Like a croupier you have to keep pushing your stick along carefully in these troubled times. Accept the fact that 6-7% rates are gone. I note that Cheshire Bldg Socy (08001 21 88 22) are doing 2 year fixed bond at 4.75%. There’s one area for you and you won’t need your drive doing !!