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Abbey Direct Isa


T_V
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I haven't seen this account discussed anywhere here.

It offers 6.25% (variable I know) without in/out restrictions.

Is there any reason it should be avoided?

Abbey along with Bradford and Bingley and a host of others, especially the Icelandic banks are regarded as among the riskiest. Hence why you won't find much discussion about their savings apart from "avoid".

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Abbey along with Bradford and Bingley and a host of others, especially the Icelandic banks are regarded as among the riskiest. Hence why you won't find much discussion about their savings apart from "avoid".

Can you explain what you mean by "riskiest" and how you measure that risk?

If CDS ratings are anything to go by Santander (owns Abbey) is in the same league as RBS, certainly not as good as Lloyds or HSBC but definitely not at the same level as B&B. Also putting Abbey on a par (risk wise) with the Icelanding banks is stretching it a bit IMHO.

Edit: Typo

Edited by T_V
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Can you explain what you mean by "riskiest" and how you measure that risk?

If CDS ratings are anything to go by Santander (owns Abbey) is in the same league as RBS, certainly not as good as Llloyds or HSBC but definitely not at the same level as B&B. Also putting Abbey on a par (risk wise) with the Icelanding banks is stretching it a bit IMHO.

I am just going on by the discussions that have been had here in the past.

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I was going to put some money into Abbey a few months ago as a way of spreading my STR fund around. Thanks to someone on here I was directed to the BBC Watchdog website which had quite a bit of negative info on Abbey.

By chance, the same week I was browsing the Daily Mail's financial website and they had an article about Abbey. Some woman had been receiving all the bank details - statements, cards, pin numbers - to someone else who banked at Abbey. She had contacted Abbey several times to stop this but the stuff kept on coming to her house. In the end she had to contact the Daily Mail to get them to contact Abbey to stop it. If she had been a crook that other person could have lost everything.

Do a search in this forum for 'Abbey' and you should find some good links and info.

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