[Mr P]

I'm hoping you guys can give me some advise.I recently moved some savings from ING as i was a bit spooked by them not coming under our Insurance if the euro went T@Ts up!! now its back in my Lloyds account i obviously want to move it somewhere that is safe.Some ideas would be appreciated.

[Lagarde's Drift]

Mr P, on 27 November 2011 - 10:42 PM, said:

I'm hoping you guys can give me some advise.I recently moved some savings from ING as i was a bit spooked by them not coming under our Insurance if the euro went T@Ts up!! now its back in my Lloyds account i obviously want to move it somewhere that is safe.Some ideas would be appreciated.

OK. Here are a few tips:

Be a savings tart (move your money around when the deals end). Cash is less of a hassle to move than ISAs with less risk of losing interest due to delays so this is ok.

Ensure you know who/what your bank or build soc is - ie how much are you covered for under the compensation scheme. A few of them are within the same group.

There are others who would suggest things like lending money to other people (via websites), not for me but perhaps something you could look at.

[browneconomy]

Priority: read MSE

http://www.moneysavi...gs/safe-savings


Gives details of compensation limits / linked banks etc

[scrappycocco]

Well I've been with santander paying a huge rate compared to the others and touch wood it hasn't gone bust yet....