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Drunken Tiger

If Cash Is King...

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If, like me, you're sticking to cash, where's the safest place to squirrel it away? (at a decent return, of course)

Mine is in:

Nationwide internet account

ISAs

About 10% in a Euro account in Switzerland

Bits and bobs in other UK accounts

Any suggestions?

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If, like me, you're sticking to cash, where's the safest place to squirrel it away? (at a decent return, of course)

Mine is in:

Nationwide internet account

ISAs

About 10% in a Euro account in Switzerland

Bits and bobs in other UK accounts

Any suggestions?

The safest place is government bonds, although the rates are not fantastic right now. If you're a higher rate tax payer, NS&I index linked bonds are a very good deal, totally safe and an index linked tax free return although you can only hold 30K maximum right now (15K in each of the current issues).

Next down the list would be any of the very big clearing banks. Nationwide appear very solid also unless they're hiding something, which I don't think they are.

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In August I went for a maximum of 35K in ten or so financial institutions.With hindsight I should have settled for the lot in NSand I Income bonds at 5.4%.To be honest the FSA insurance scheme is a bit of a joke.Rather like the Pru trying to honour its policies after a Nuclear war.Unfortunately the likes of Rachel Lomax may have launched a nuclear missile on the banking system with that 3.5% rate a few years ago.

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Your first £30k each year should go £15k each into the NS&I index linked bonds (3yr and 5yr respectively).

After that it'll change week by week, following a comment on this forum yesterday I've just stuck some cash in a 7.05% bond with Stroud & Swindon (issue 57, runs to December 2008).

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hi,

i stashed my str fund sold 27/7/07 :D in various accounts up to 35k each , but am now in process of sending them all to nsi income bonds until things become clear. :unsure:

it will be easy to send them back to the accounts i opened at a later date.

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