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good thread, i hope the mods leave this on for a while. please!

i think the problem we can face apart from the risks and keeping under safe limits, is that some non UK banks abroad wont allow deposits unless you live in their country. but hopefully this can be legally circumvented, i know some banks were or are paying 6 % or more in poland. i spoke to a pole once about saving here and he said "you must be joking, i get 8 % in poland" - i dont know what the current rates are there but probably >5 % on instant access

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This is a good thread given the news today about possible negative savings rates. I only have foreign bank acs because I lived abroad and kept them on. The only way I can see someone getting one is to try and live abroad for a while. Hope someone comes up with a better idea.

I have a Dutch visa card that actually earns 3% so maybe that is a route for some it certainly will be for me.

BTW tw@ts at LLoyds would only let me take max 5k out a few weeks ago even with one weeks notice and then cheeky fecker wanted to know what I was going to do with it. I was furious.

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This is a good thread given the news today about possible negative savings rates. I only have foreign bank acs because I lived abroad and kept them on. The only way I can see someone getting one is to try and live abroad for a while. Hope someone comes up with a better idea.

I have a Dutch visa card that actually earns 3% so maybe that is a route for some it certainly will be for me.

BTW tw@ts at LLoyds would only let me take max 5k out a few weeks ago even with one weeks notice and then cheeky fecker wanted to know what I was going to do with it. I was furious.

why only 5k? whats that about? worrying... :(

as for what you wanted to do with it, what business of theirs, tell them "down payment on a load of hash i'm gonna be dealing, what else did you think??"

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we don't need to move our money abroad , we need to unite as savers and target each individual bank say one a month starting with the taxpayer owned ones like n.r/lloyds/rbs and everybody withdraws their savings on the same day until the govt raises the interest rates back to normal levels , savers have done their part in all this mess now its time for the reckless to take some, we have the power in numbers we just need someone to organise it if i knew how to set up web site i would give it a go but unfortunately i am almost computer illiterate

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This is a good thread given the news today about possible negative savings rates. I only have foreign bank acs because I lived abroad and kept them on. The only way I can see someone getting one is to try and live abroad for a while. Hope someone comes up with a better idea.

I have a Dutch visa card that actually earns 3% so maybe that is a route for some it certainly will be for me.

BTW tw@ts at LLoyds would only let me take max 5k out a few weeks ago even with one weeks notice and then cheeky fecker wanted to know what I was going to do with it. I was furious.

Not sure on this but I believe that they have a duty to ask. "Mind your own business" is a satisfacory reply and all requirements have been fulfilled. They may have to report the response but I think that is the end of the matter.

p-o-p

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we don't need to move our money abroad , we need to unite as savers and target each individual bank say one a month starting with the taxpayer owned ones like n.r/lloyds/rbs and everybody withdraws their savings on the same day until the govt raises the interest rates back to normal levels , savers have done their part in all this mess now its time for the reckless to take some, we have the power in numbers we just need someone to organise it if i knew how to set up web site i would give it a go but unfortunately i am almost computer illiterate

Well, I withdrew mine recently, and I feel a lot better for it.

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All my monies was with overseas banks for a while

Capital One

Citigroup.

ICICI

and

Icesave

It was a deliberate effort not to use UK banks. Never had problems except for icesave obviously

Now im with building societies.

regardless of whether they have FSCS protection i dont intend to be using British Bank for a long time. Id sooner use Tesco if they develop a stand alone banking operation.

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Guest absolutezero
So, like me, you had a decent interest rate and all your money back. It could not have been bettered.

I would have preferred not to have the inconvenience and a few days' worry about whether my money had vanished down a black hole not to mention the lost interest.

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why only 5k? whats that about? worrying... :(

as for what you wanted to do with it, what business of theirs, tell them "down payment on a load of hash i'm gonna be dealing, what else did you think??"

next time tell them your chipping in to get a hitman working his way through the bankers of this land

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we don't need to move our money abroad , we need to unite as savers and target each individual bank say one a month starting with the taxpayer owned ones like n.r/lloyds/rbs and everybody withdraws their savings on the same day until the govt raises the interest rates back to normal levels , savers have done their part in all this mess now its time for the reckless to take some, we have the power in numbers we just need someone to organise it if i knew how to set up web site i would give it a go but unfortunately i am almost computer illiterate

Agreed. Just wish someone would. Unfortunately all us savers are a disparate group. But if we're not part of the solution then we're part of the problem!

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Be warned, ING direct compensation is 100,000 euro's however this is due to drop shortly to 50,000! Dont get caught out because they dont put it on their website.

Source?

(I have more than 50k Euro with Ing, so I have a definite interest in that).

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good thread, i hope the mods leave this on for a while. please!

i think the problem we can face apart from the risks and keeping under safe limits, is that some non UK banks abroad wont allow deposits unless you live in their country. but hopefully this can be legally circumvented, i know some banks were or are paying 6 % or more in poland. i spoke to a pole once about saving here and he said "you must be joking, i get 8 % in poland" - i dont know what the current rates are there but probably >5 % on instant access

Polish banks are safe but PLN is very strong so its bad time to invest. Best rates are 6% or 5% net for 3 months, with interest rates being 3.5%.

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we don't need to move our money abroad , we need to unite as savers and target each individual bank say one a month starting with the taxpayer owned ones like n.r/lloyds/rbs and everybody withdraws their savings on the same day until the govt raises the interest rates back to normal levels , savers have done their part in all this mess now its time for the reckless to take some, we have the power in numbers we just need someone to organise it if i knew how to set up web site i would give it a go but unfortunately i am almost computer illiterate

I like the cut of your jib. I wonder if we could get together enough people to negotiate better rates with the banks. It would be easy enough to get the people I imagine but I wonder whether the banks would actually negotiate a decent rate of interest. I reckon with all the STR funds around here, we would be quickly talking about tens of millions of pounds from just a few hundred people combined. What do you think Lloyds would say if we sat down and said we have 500 people willing to deposit a total of 25 million (£50,000 from each) - what is your best rate of interest? By the way, I'm serious.

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I like the cut of your jib. I wonder if we could get together enough people to negotiate better rates with the banks. It would be easy enough to get the people I imagine but I wonder whether the banks would actually negotiate a decent rate of interest. I reckon with all the STR funds around here, we would be quickly talking about tens of millions of pounds from just a few hundred people combined. What do you think Lloyds would say if we sat down and said we have 500 people willing to deposit a total of 25 million (£50,000 from each) - what is your best rate of interest? By the way, I'm serious.

This would be far more effective than a stupid online petition. Come on, if T-Mobile can get a load of people together for their advert or stupid flash mobs can organise and marshal a load of idiots to stand around Grand Union station and play statues, surely we can organise this, which is of infinetly more importance. Or are we really just a nation of apathetic moaners?

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I like the cut of your jib. I wonder if we could get together enough people to negotiate better rates with the banks. It would be easy enough to get the people I imagine but I wonder whether the banks would actually negotiate a decent rate of interest. I reckon with all the STR funds around here, we would be quickly talking about tens of millions of pounds from just a few hundred people combined. What do you think Lloyds would say if we sat down and said we have 500 people willing to deposit a total of 25 million (£50,000 from each) - what is your best rate of interest? By the way, I'm serious.

+ 1

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Guest absolutezero
This would be far more effective than a stupid online petition. Come on, if T-Mobile can get a load of people together for their advert or stupid flash mobs can organise and marshal a load of idiots to stand around Grand Union station and play statues, surely we can organise this, which is of infinetly more importance. Or are we really just a nation of apathetic moaners?

That's about the size of it.

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This would be far more effective than a stupid online petition. Come on, if T-Mobile can get a load of people together for their advert or stupid flash mobs can organise and marshal a load of idiots to stand around Grand Union station and play statues, surely we can organise this, which is of infinetly more importance. Or are we really just a nation of apathetic moaners?

I can't stand that advert! As I'm writing, it is also at the top of the forum on a T-Mobile advert - how infuriatingly smug they all look. And gormless.

Right, to gauge interest, why don't we have a vote and leave it a couple of days. If we get enough of a response, then I'd be happy to help organise it and build the site to orchestrate people.

Can the original poster add some vote categories. I'm thinking along the lines of:

Would you like to become part of a group to negotiate en mass with the banks for a preferred customer savings account. You have to have instant access to the funds.

1. Don't be daft - it'll never work

2. Yes, I can contribute £50,000 - £100,000

3. Yes, I can contribute £100,001 - £150,000

4. Yes, I can contribute £150,001 - £250,000

5. Yes, I can contribute £250,001 - £500,000

6. Yes, I can contribute £500,001 - £1,000,000

And just to be clear, this would be an agreement between the banks and the individual. The organisers would not (nor would they wish to) see any of the cash. They would just take details of individuals, amounts they'd be prepared to invest and discuss with banks on those terms. If successful, we'd pass on the details and the winning bank would have a shed load of new cash and we'd all have better savings rates.

Am I dreaming once again that any kind of organised action like this is possible? :huh:

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