Dweller Posted August 12, 2020 Share Posted August 12, 2020 I have asked this Q before but without much response so I am still trawling through webpages trying to work out where to split the money from the sale of our property until we buy another property. (I know the money in theory is protected but we all know that the FSCS couldn't provide bailout money for one big bank/building society let alone 2 or more). So does ethical equal safer? Whether a bank or building soc is ethical wont make much difference will it if there is a shed load of defaults on loans and repossessions due to mortgage defaults. Or does it make a difference? Do ethical banks /building societies have better models which will help them withstand the current recession? Coventry is up there in the ethical stakes but HPC posters have recently said that they see Coventry going along with Nationwide and Yorkshire. We don't want to put all our money in NS&I . Any ideas where we can put it for about a year? Thanks:O) Quote Link to comment Share on other sites More sharing options...
msi Posted August 12, 2020 Share Posted August 12, 2020 USD? Bitcoin? Nigerian Princes? Hummus? The Elites have rigged the casino, so what ever game you play you are still a sucker Quote Link to comment Share on other sites More sharing options...
richmondtw Posted August 14, 2020 Share Posted August 14, 2020 Why would it be safer ? Quote Link to comment Share on other sites More sharing options...
Dweller Posted August 14, 2020 Author Share Posted August 14, 2020 3 minutes ago, richmondtw said: Why would it be safer ? You have to remember that I know NOTHING about anything, but in my own completely muddled way I was thinking that MAYBE just MAYBE ethical banks/building societies would have better buffers/ better ways of lending balanced with deposits etc? I just wondered if the ethical feeds through to the organization of funds and a more responsible way of holding/lending money. Quote Link to comment Share on other sites More sharing options...
Will! Posted August 14, 2020 Share Posted August 14, 2020 On 12/08/2020 at 10:19, Dweller said: So does ethical equal safer? No, it's a marketing fig leaf. The 'ethical' Co-op Bank (for example) engaged in just as much sharp practice as any other UK retail bank. Quote Link to comment Share on other sites More sharing options...
captainb Posted August 14, 2020 Share Posted August 14, 2020 (edited) On 8/12/2020 at 10:19 AM, Dweller said: I have asked this Q before but without much response so I am still trawling through webpages trying to work out where to split the money from the sale of our property until we buy another property. (I know the money in theory is protected but we all know that the FSCS couldn't provide bailout money for one big bank/building society let alone 2 or more). So does ethical equal safer? Whether a bank or building soc is ethical wont make much difference will it if there is a shed load of defaults on loans and repossessions due to mortgage defaults. Or does it make a difference? Do ethical banks /building societies have better models which will help them withstand the current recession? Coventry is up there in the ethical stakes but HPC posters have recently said that they see Coventry going along with Nationwide and Yorkshire. We don't want to put all our money in NS&I . Any ideas where we can put it for about a year? Thanks:O) Realistically if FSCS didnt cover the first 85k of a bank that went under, after all the other controls had broken to enable the bank to collapse, we would more to worry about than bloomin house prices. It's not really about "cash reserves" of a scheme for that kind of event the government would step in with printed cash as a last resort. If its just safety for a year, premium bonds, then spread it around as many banks until you feel safe... Hassle but as current accounts are free and interest would be a pittance thats all you are losing. Anyone who sticks all their cash into bitcoin for safety... Just bizaree. Edited August 14, 2020 by captainb Quote Link to comment Share on other sites More sharing options...
winkie Posted August 14, 2020 Share Posted August 14, 2020 The nations saving bank national savings......any loss in interest will be made up from any savings made from falling property prices.....good luck.? Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted August 14, 2020 Share Posted August 14, 2020 (edited) On 12/08/2020 at 10:19, Dweller said: We don't want to put all our money in NS&I . Any reason?, other than they make Hitler look ethical. Edited August 14, 2020 by “Nasty Piece of work” Tablet ucked Quote Link to comment Share on other sites More sharing options...
“Nasty Piece of work” Posted August 14, 2020 Share Posted August 14, 2020 My halfpenny’s worth: Due to QE/FfL/vote buying, the IR’s rates on offer from ANY financial Institution are so poor you’re “better off” chucking the money in NSI, and bunging a “proper” charity some real money. Green washing is so common we would have seen Jimmy Savile babysitting. At least with NSI your know they can leave the copier on longer. Quote Link to comment Share on other sites More sharing options...
Dweller Posted August 14, 2020 Author Share Posted August 14, 2020 3 hours ago, “Nasty Piece of work” said: Any reason?, other than they make Hitler look ethical. Again, probably due to not understanding anything about financial institutions, it was based on spread and not putting all eggs in one basket. Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.