Safe bank for large sum of money

Jez

Jez

Caporegime
Joined
18 Oct 2002
Posts
33,073
You could do the same in the UK, just split your cash across multiple UK banks - this is just a service offered that does that for you..

This can hardly be a rare service either, i bank with HL for example whose cash products can be split any way you please.
 
Joined
4 Aug 2007
Posts
21,386
Location
Wilds of suffolk
Actually an interesting thought. The £85k is in fact not, its 100K euros, some years ago the £85k was in fact £75k when the Euro was weaker against the pound. When the pound went down the exchange rate meant that in broad terms £85k was closest to 100k euros.

https://ec.europa.eu/info/business-...ial-institutions/deposit-guarantee-schemes_en

I wonder if the UK government will keep this once we properly leave the EU. I can imagine some will push for removal, its a very pleb friendly and arguably business restricting (since its a levy) thing.
If they do keep it will they change the amount, would be a bit of a anti Brexit taking back control banner to have our protection for depositors permanently linked to the amount it was when we left the EU.
 
Soldato
Joined
8 Nov 2006
Posts
22,966
Location
London
So it's basically like tailored investment advice, similar to an independent financial advisor?

An IFA isn't a bank. The best they can do is offer products in the market from various providers.

A private bank will give you tailored products with them, products an IFA may not even have visibility of. Obviously the degree to which is dependent on how wealthy you actually are.
 
Caporegime
Joined
29 Jan 2008
Posts
58,898
Actually an interesting thought. The £85k is in fact not, its 100K euros, some years ago the £85k was in fact £75k when the Euro was weaker against the pound. When the pound went down the exchange rate meant that in broad terms £85k was closest to 100k euros.

https://ec.europa.eu/info/business-...ial-institutions/deposit-guarantee-schemes_en

I wonder if the UK government will keep this once we properly leave the EU. I can imagine some will push for removal, its a very pleb friendly and arguably business restricting (since its a levy) thing.
If they do keep it will they change the amount, would be a bit of a anti Brexit taking back control banner to have our protection for depositors permanently linked to the amount it was when we left the EU.

UK deposit protection pre-dates that and was raised in response to Ireland not because we had to. You’ve got this backwards tbh... AFAIK pushing for deposit protection to be removed or reduced substantially isn’t on anyone’s agenda.

This isn’t an “interesting thought” it’s a naive one and just smacks of the usual Brexit derangement stuff.

In plenty of areas the UK has better rules than various EU countries, that’s unlikely to change. There is a reason why some dodgy financial firms for example look to places like Cyprus, Malta etc...
 
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