With all the financial disasters around e.g Northern Rock,Bradford +Bingley etc as well as the USA ones,I am getting worried about my UK savings which provide 50% of my retirement income.

Does anyone know the limit of a financial institutions liability in the event of a crash ?

I know that prior to the Northern Rock fiasco it was £30,000 per investor (so presumably with a joint account it was £60,000?) but the Government,to allay panic, announced that this was to be increased.

Do we know if it was, and if so to how much.

If not any ideas where to find out?

I have tried various financial sites to no avail.Any info gratefully received.

For cash deposits it's now £35k (last year was £31,700).

This is per investor, and also per institution, so if you have more than £35k (or £70k between you) you could always put the remainder in a different bank. Joint accounts would only be entitled to one payment.

Edit - my apologies, they have changed the scheme, and a joint account would qualify for 2 payments

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

I hope you have the maximum (30,000 GBP) in Premium Bonds. That is safe. You could consider National Savings or UK Guilts. Again both safe.

I would not like to have more than 35K in some of those smaller UK building societies. B&B look they will go to the wall soon.

But I am sure that the big Building Societies are O.K. (Nationwide/Britannia.)

Don't put all your eggs in one basket!

How would one go about getting 30,000 in premium bonds..and can it be done online ?

Froggs

Try the forum on business and banking - more people there who know about money - all we know is bars and birds - that's why we're Pattayans.

How would one go about getting 30,000 in premium bonds..and can it be done online ?

Froggs

Yes you can at http://www.nsandi.com/index.jsp

BB

Why don't you "invest" in a nice little "bar beer" plenty of opportunities right now?

I may be able to point you in the right direction, for a fee......

How would one go about getting 30,000 in premium bonds..and can it be done online ?

Froggs

I believe, but am open to correction, that £30,000 is the maximum you can hold without paying tax. Okay if you take your winnings but I would guess they'd also be taxed. A colleague has £20,000 in premium bonds and has the winnings reinvested as new bonds. If the total ever gets close to the 30k mark he just cashes some in.

Yes, despite what you hear to the contrary, Pattaya beer bars are a real good investment. Unfortunately just not good for the investor.

For cash deposits it's now £35k (last year was £31,700).

This is per investor, and also per institution, so if you have more than £35k (or £70k between you) you could always put the remainder in a different bank. Joint accounts would only be entitled to one payment.

Edit - my apologies, they have changed the scheme, and a joint account would qualify for 2 payments

http://www.fscs.org.uk/consumer/FAQs/Deposit_claims_FAQs/

Thanks so much,you told me all I need to know,and where to find it.

As for the investment advice from others ,I look at it ,and make my own decision.

I must add that this forum is brilliant as you can challenge it with anything from everyday life and get some valuable and relevant answers.

Long may it thrive

Surely the big banks such as HSBC are safe?

As this topic is neither Thailand related or Pattaya related then it is closed.

Please only post topics in the Pattaya forum which are revelvant to Pattaya.

Thanks.