Stash The Cash

[LaoPo]

The problem with many houseowners/households is that those owners have a mortgage -most of them (not me) with a certain bank; if this bank collapses and is not saved by it's Government, the houseowner has a big problem if he (also) has a savings account with that same back; a savings account from his wife and/or children will be wiped away at the same time...

LaoPo

If a bank collapses in which you have a mortgage loan doesn't that mean you get the house for free since there's no more bank to pay off the mortgage to?

In fact, according to a news show I saw in the UK, IF you have savings in the same bank, then you don't get those savings back, they actually just deduct the amount from your outstanding mortgage debt. They were therefore advising people move their saving to a bank other than the bank they had their mortgage with. Odd times we live in for sure! You would not lose out, you just would not have cash in hand.

Correct; I edited my message, explaining, here:

http://www.thaivisa.com/forum/Stash-Cash-t...40#entry2258540

LaoPo

[pkrv]

The problem with many houseowners/households is that those owners have a mortgage -most of them (not me) with a certain bank; if this bank collapses and is not saved by it's Government, the houseowner has a big problem if he (also) has a savings account with that same back; a savings account from his wife and/or children will be wiped away at the same time...

LaoPo

If a bank collapses in which you have a mortgage loan doesn't that mean you get the house for free since there's no more bank to pay off the mortgage to?

In fact, according to a news show I saw in the UK, IF you have savings in the same bank, then you don't get those savings back, they actually just deduct the amount from your outstanding mortgage debt. They were therefore advising people move their saving to a bank other than the bank they had their mortgage with. Odd times we live in for sure! You would not lose out, you just would not have cash in hand.

Correct; I edited my message, explaining, here:

http://www.thaivisa.com/forum/Stash-Cash-t...40#entry2258540

LaoPo

For the people in the UK it is worse than this! There was a good article published, asked my dad to scan in and send but there are limitations and of course paradoxes - I did not spot! Dad is sending it by post - Life

[dsfbrit]

I am just travelling back from a 3 weeks stay in the UK. I have all my savings with HBOS, onshore and offshore. I wandered around several banks to set up some other accounts. I kept bumping into the same people doing the same thing. They were lucky and able to set up onshore accounts of 50,000 pounds with different banks, so they are protected. As a non-resident I could just set up offshore accounts. The protection on these is not as clear cut as onshore accounts.

My fixed term savings accounts can be closed down losing 6 days interest for each month I close down early. I could close down the majority of the accounts for a relatively small amount compared to what I could lose if one of these major banks went bust(unlikely). Do I want to do this??? Who knows. It would just mean money offshore with HSBC instead of HBOS and no real guarantee of anything if the World as I know it collapses.

HSBC did offer me an onshore account (Premier) with a deposit of 50000 pounds. I thought about it, but the interest rate was so poor (4 per centish with the Premier account 'bonus'') I gave it a miss. I only went in there to get them to witness my passport and address details of my current account I hold with them so I could open an HSBC offshore account. I came out of there without the signature I needed and the feeling I had just had a hard sell I did not expect.

I think I will just hope the Lloyds TSB takeover will be successful - Gordon Brown has put all his weight behind it - so it should go ahead then

Anyway we shall see.

There are two things to be concerned about here for both of us, since I also have some funds with HBOS offshore. The first is whether the Lloyds deal will go through (I think it will since the major institutional investors have already give it the nod) and the second is whether the newly formed Lloyds/HBOS can survive, given the state of the combined mortgage book! In the case of the latter I come back to earlier points to suggest that it will survive - the UK government is actively involved to ensure deposits are not lost so the bigger the bank, the more effort they are likely to put in. Secondly, If Lloyds/HBOS were to fail the UK would be a totally different place because of the large number of people effected. Governments don't like to see banks fail because it would almost certainly involve the death of their party for the next fifty years or more! Can you imagine in ten years time, vote Labour they would say - ah yes, that's the party that lost the savings of a few million citizens, no chance the population would say.

Having said those things, next time you have a chance you perhaps want to think about splitting your savings between a few banks.

I agree in general with what you say. The trouble is though, I am an Expat and therefore cannot legally open an onshore UK bank account. Also, even if I could, I would have to close fixed term bank accounts with financial penalties.

I am also not sure that the UK electorate could give a stuff about an Expat losing his money in an offshore account.

The UK government may well explicitly guarantee ALL UK deposits over the next few days, but that will not explicitly include offshore accounts.

The current guarantees relating to offshore accounts are poor to useless IMHO. Perhaps HSBC is better than most, they seem to say they cover offshore deposits, whereas HBOS just have a letter of understanding to cover liabilites - whatever that means!!!

I guess if the UK government guarantees all savings for onshore UK accounts, then despite the penalty, I will close down my offshore accounts and move them all to my current onshore HBOS savings accounts. At least then they are 'safe'.

What will you do??? These are odd times - I never thought my savings with HBOS, onshore or offshore would cause me any loss of sleep!!

It's a big boat we're both in and we're not alone in it! I'm going to stay as is until I see the world differently. I'm not comfortable but I'm not overly worried either and the last thing I'm going to do is panic - let's just wait and see how it continues to unfold and perhaps exchange notes again later?

I am with you CM. I wish you hadn't mentioned boats though - I immediately think of the Titanic.

The Daily Telegraph is asking people to ask questions that their 'experts' will reply to. I asked what they thought I should do - be interesting to see if they reply.

Edited October 7, 2008 by dsfbrit

[dsfbrit]

The problem with many houseowners/households is that those owners have a mortgage -most of them (not me) with a certain bank; if this bank collapses and is not saved by it's Government, the houseowner has a big problem if he (also) has a savings account with that same back; a savings account from his wife and/or children will be wiped away at the same time...

LaoPo

If a bank collapses in which you have a mortgage loan doesn't that mean you get the house for free since there's no more bank to pay off the mortgage to?

In fact, according to a news show I saw in the UK, IF you have savings in the same bank, then you don't get those savings back, they actually just deduct the amount from your outstanding mortgage debt. They were therefore advising people move their saving to a bank other than the bank they had their mortgage with. Odd times we live in for sure! You would not lose out, you just would not have cash in hand.

Correct; I edited my message, explaining, here:

http://www.thaivisa.com/forum/Stash-Cash-t...40#entry2258540

LaoPo

Fair enough, I admit I did not look at the link as it did not affect me. Interesting though just how the system works.

[lannarebirth]

I use Anglo Irish and believe me have been trying to get to the bottom of it.My Money is in the Isle of Man and is safe under the Irish Governments 2 year thing.Guess that means offshore.

EPG.

Never check these banks are fakes you will be crying soon.

They are all owned by New York Bankers

Really? And which ones aren't then?

Let me us know with your answer...

I have an icelandic account.

Internet online and its pretty good

Phone home.

http://www.thaivisa.com/forum/index.php?s=...t&p=2260918

[chiang mai]

I am just travelling back from a 3 weeks stay in the UK. I have all my savings with HBOS, onshore and offshore. I wandered around several banks to set up some other accounts. I kept bumping into the same people doing the same thing. They were lucky and able to set up onshore accounts of 50,000 pounds with different banks, so they are protected. As a non-resident I could just set up offshore accounts. The protection on these is not as clear cut as onshore accounts.

My fixed term savings accounts can be closed down losing 6 days interest for each month I close down early. I could close down the majority of the accounts for a relatively small amount compared to what I could lose if one of these major banks went bust(unlikely). Do I want to do this??? Who knows. It would just mean money offshore with HSBC instead of HBOS and no real guarantee of anything if the World as I know it collapses.

HSBC did offer me an onshore account (Premier) with a deposit of 50000 pounds. I thought about it, but the interest rate was so poor (4 per centish with the Premier account 'bonus'') I gave it a miss. I only went in there to get them to witness my passport and address details of my current account I hold with them so I could open an HSBC offshore account. I came out of there without the signature I needed and the feeling I had just had a hard sell I did not expect.

I think I will just hope the Lloyds TSB takeover will be successful - Gordon Brown has put all his weight behind it - so it should go ahead then

Anyway we shall see.

There are two things to be concerned about here for both of us, since I also have some funds with HBOS offshore. The first is whether the Lloyds deal will go through (I think it will since the major institutional investors have already give it the nod) and the second is whether the newly formed Lloyds/HBOS can survive, given the state of the combined mortgage book! In the case of the latter I come back to earlier points to suggest that it will survive - the UK government is actively involved to ensure deposits are not lost so the bigger the bank, the more effort they are likely to put in. Secondly, If Lloyds/HBOS were to fail the UK would be a totally different place because of the large number of people effected. Governments don't like to see banks fail because it would almost certainly involve the death of their party for the next fifty years or more! Can you imagine in ten years time, vote Labour they would say - ah yes, that's the party that lost the savings of a few million citizens, no chance the population would say.

Having said those things, next time you have a chance you perhaps want to think about splitting your savings between a few banks.

I agree in general with what you say. The trouble is though, I am an Expat and therefore cannot legally open an onshore UK bank account. Also, even if I could, I would have to close fixed term bank accounts with financial penalties.

I am also not sure that the UK electorate could give a stuff about an Expat losing his money in an offshore account.

The UK government may well explicitly guarantee ALL UK deposits over the next few days, but that will not explicitly include offshore accounts.

The current guarantees relating to offshore accounts are poor to useless IMHO. Perhaps HSBC is better than most, they seem to say they cover offshore deposits, whereas HBOS just have a letter of understanding to cover liabilites - whatever that means!!!

I guess if the UK government guarantees all savings for onshore UK accounts, then despite the penalty, I will close down my offshore accounts and move them all to my current onshore HBOS savings accounts. At least then they are 'safe'.

What will you do??? These are odd times - I never thought my savings with HBOS, onshore or offshore would cause me any loss of sleep!!

It's a big boat we're both in and we're not alone in it! I'm going to stay as is until I see the world differently. I'm not comfortable but I'm not overly worried either and the last thing I'm going to do is panic - let's just wait and see how it continues to unfold and perhaps exchange notes again later?

I am with you CM. I wish you hadn't mentioned boats though - I immediately think of the Titanic.

The Daily Telegraph is asking people to ask questions that their 'experts' will reply to. I asked what they thought I should do - be interesting to see if they reply.

That should be a riveting read that leads to a path of enlightenment! I hope you share it regardless and don't worry too much in the meantime.

[LaoPo]

I use Anglo Irish and believe me have been trying to get to the bottom of it.My Money is in the Isle of Man and is safe under the Irish Governments 2 year thing.Guess that means offshore.

EPG.

Never check these banks are fakes you will be crying soon.

They are all owned by New York Bankers

Really? And which ones aren't then?

Let me us know with your answer...

I have an icelandic account.

Internet online and its pretty good

Phone home.

http://www.thaivisa.com/forum/index.php?s=...t&p=2260918

OUCH....the Honourable Knight wrote that just 5 days ago...how the world can change.... ....in a matter of hours....

It's pretty HOT in Iceland at the moment....

LaoPo

[pkrv]

Ah! I have the copy of the article on UK banking (delivered by Royal Mail!) - I don't like nor read the paper, but a good article IMO for those in the UK who may have to juggle 'the quirks' of compensation from 'UK' banks. Forewarned - Forearmed!

[LaoPo]

Ah! I have the copy of the article on UK banking (delivered by Royal Mail!) - I don't like nor read the paper, but a good article IMO for those in the UK who may have to juggle 'the quirks' of compensation from 'UK' banks. Forewarned - Forearmed!

Maybe it's better to read this way...

hmmm..odd.... if I click it's still coming the way you posted; someone better than me please ?

LaoPo

Edited October 7, 2008 by LaoPo

[pkrv]

you don't think you can guide the markets without learning a trick or two do you ];-)

Edited October 7, 2008 by pkrv

[LaoPo]

you don't think you can guide the markets without learning a trick or two do you ];-)

If your Dad would have told you it was written by Sylvia Morris...it would have saved your Dad money and time for you

http://www.dailymail.co.uk/home/search.htm...om=&dateTo=

Now, who's learning a trick or two here ?

LaoPo

[pkrv]

you don't think you can guide the markets without learning a trick or two do you ];-)

If your Dad would have told you it was written by Sylvia Morris...it would have saved your Dad money and time for you

http://www.dailymail.co.uk/home/search.htm...om=&dateTo=

Now, who's learning a trick or two here ?

LaoPo

Ha! - You don't by any chance read this stuff do you ];-) I hope the technology I just used, added you - PKRV

[LaoPo]

Ha! - You don't by any chance read this stuff do you ];-) I hope the technology I just used, added you - PKRV

I read the more serious and important stuff...with boobbles

http://www.dailymail.co.uk/tvshowbiz/artic...s-boob-job.html

Until recently I wasn't aware such serious newspapers even existed.

LaoPo

[Naam]

I use Anglo Irish and believe me have been trying to get to the bottom of it.My Money is in the Isle of Man and is safe under the Irish Governments 2 year thing.Guess that means offshore.

EPG.

Never check these banks are fakes you will be crying soon.

They are all owned by New York Bankers

Really? And which ones aren't then?

Let me us know with your answer...

I have an icelandic account.

Internet online and its pretty good

Phone home.

http://www.thaivisa.com/forum/index.php?s=...t&p=2260918

OUCH....the Honourable Knight wrote that just 5 days ago...how the world can change.... ....in a matter of hours....

It's pretty HOT in Iceland at the moment....

LaoPo

i didn't want to add a negative comment at that time. reason: Klingons admire bravery.

[pkrv]

Well the UK gave its 'non transparent' answer to the market crisis (in market terms a great means to make money because no one can ever fully understand it! Therefore you can utterly screw them). No mention of protecting all savings whatsoever. This is of course reflected in unsurprising results for the market. Do you know walking down the street just now someone who knows all about this stuff just questioned me on putting his savings in the Nationwide. But oddly they too have signed up to 'aspects' of the plan - I wonder which ones? Stop the panic - cretins - I think they just made it much, much worse.

http://news.bbc.co.uk/1/hi/business/7658277.stm

Edited October 8, 2008 by pkrv

[Naam]

go Nationwide, you save 20 Baht ATM fee!

[pkrv]

go Nationwide, you save 20 Baht ATM fee!

A Klingon Warrior Cheer Leader - - Well what the hel_l this is the world!

[dsfbrit]

I am just travelling back from a 3 weeks stay in the UK. I have all my savings with HBOS, onshore and offshore. I wandered around several banks to set up some other accounts. I kept bumping into the same people doing the same thing. They were lucky and able to set up onshore accounts of 50,000 pounds with different banks, so they are protected. As a non-resident I could just set up offshore accounts. The protection on these is not as clear cut as onshore accounts.

My fixed term savings accounts can be closed down losing 6 days interest for each month I close down early. I could close down the majority of the accounts for a relatively small amount compared to what I could lose if one of these major banks went bust(unlikely). Do I want to do this??? Who knows. It would just mean money offshore with HSBC instead of HBOS and no real guarantee of anything if the World as I know it collapses.

HSBC did offer me an onshore account (Premier) with a deposit of 50000 pounds. I thought about it, but the interest rate was so poor (4 per centish with the Premier account 'bonus'') I gave it a miss. I only went in there to get them to witness my passport and address details of my current account I hold with them so I could open an HSBC offshore account. I came out of there without the signature I needed and the feeling I had just had a hard sell I did not expect.

I think I will just hope the Lloyds TSB takeover will be successful - Gordon Brown has put all his weight behind it - so it should go ahead then

Anyway we shall see.

There are two things to be concerned about here for both of us, since I also have some funds with HBOS offshore. The first is whether the Lloyds deal will go through (I think it will since the major institutional investors have already give it the nod) and the second is whether the newly formed Lloyds/HBOS can survive, given the state of the combined mortgage book! In the case of the latter I come back to earlier points to suggest that it will survive - the UK government is actively involved to ensure deposits are not lost so the bigger the bank, the more effort they are likely to put in. Secondly, If Lloyds/HBOS were to fail the UK would be a totally different place because of the large number of people effected. Governments don't like to see banks fail because it would almost certainly involve the death of their party for the next fifty years or more! Can you imagine in ten years time, vote Labour they would say - ah yes, that's the party that lost the savings of a few million citizens, no chance the population would say.

Having said those things, next time you have a chance you perhaps want to think about splitting your savings between a few banks.

I agree in general with what you say. The trouble is though, I am an Expat and therefore cannot legally open an onshore UK bank account. Also, even if I could, I would have to close fixed term bank accounts with financial penalties.

I am also not sure that the UK electorate could give a stuff about an Expat losing his money in an offshore account.

The UK government may well explicitly guarantee ALL UK deposits over the next few days, but that will not explicitly include offshore accounts.

The current guarantees relating to offshore accounts are poor to useless IMHO. Perhaps HSBC is better than most, they seem to say they cover offshore deposits, whereas HBOS just have a letter of understanding to cover liabilites - whatever that means!!!

I guess if the UK government guarantees all savings for onshore UK accounts, then despite the penalty, I will close down my offshore accounts and move them all to my current onshore HBOS savings accounts. At least then they are 'safe'.

What will you do??? These are odd times - I never thought my savings with HBOS, onshore or offshore would cause me any loss of sleep!!

It's a big boat we're both in and we're not alone in it! I'm going to stay as is until I see the world differently. I'm not comfortable but I'm not overly worried either and the last thing I'm going to do is panic - let's just wait and see how it continues to unfold and perhaps exchange notes again later?

I am with you CM. I wish you hadn't mentioned boats though - I immediately think of the Titanic.

The Daily Telegraph is asking people to ask questions that their 'experts' will reply to. I asked what they thought I should do - be interesting to see if they reply.

That should be a riveting read that leads to a path of enlightenment! I hope you share it regardless and don't worry too much in the meantime.

CM, this is interesting. The Isle Of Man guarantee is better than the Jersey guarantee at the moment, but steps in the right direction.

http://www.bankofscotland-international.co...tion-scheme.asp

This is taken from here:

http://www.bankofscotland-international.co...ore-banking.asp

[chiang mai]

I am just travelling back from a 3 weeks stay in the UK. I have all my savings with HBOS, onshore and offshore. I wandered around several banks to set up some other accounts. I kept bumping into the same people doing the same thing. They were lucky and able to set up onshore accounts of 50,000 pounds with different banks, so they are protected. As a non-resident I could just set up offshore accounts. The protection on these is not as clear cut as onshore accounts.

My fixed term savings accounts can be closed down losing 6 days interest for each month I close down early. I could close down the majority of the accounts for a relatively small amount compared to what I could lose if one of these major banks went bust(unlikely). Do I want to do this??? Who knows. It would just mean money offshore with HSBC instead of HBOS and no real guarantee of anything if the World as I know it collapses.

HSBC did offer me an onshore account (Premier) with a deposit of 50000 pounds. I thought about it, but the interest rate was so poor (4 per centish with the Premier account 'bonus'') I gave it a miss. I only went in there to get them to witness my passport and address details of my current account I hold with them so I could open an HSBC offshore account. I came out of there without the signature I needed and the feeling I had just had a hard sell I did not expect.

I think I will just hope the Lloyds TSB takeover will be successful - Gordon Brown has put all his weight behind it - so it should go ahead then

Anyway we shall see.

There are two things to be concerned about here for both of us, since I also have some funds with HBOS offshore. The first is whether the Lloyds deal will go through (I think it will since the major institutional investors have already give it the nod) and the second is whether the newly formed Lloyds/HBOS can survive, given the state of the combined mortgage book! In the case of the latter I come back to earlier points to suggest that it will survive - the UK government is actively involved to ensure deposits are not lost so the bigger the bank, the more effort they are likely to put in. Secondly, If Lloyds/HBOS were to fail the UK would be a totally different place because of the large number of people effected. Governments don't like to see banks fail because it would almost certainly involve the death of their party for the next fifty years or more! Can you imagine in ten years time, vote Labour they would say - ah yes, that's the party that lost the savings of a few million citizens, no chance the population would say.

Having said those things, next time you have a chance you perhaps want to think about splitting your savings between a few banks.

I agree in general with what you say. The trouble is though, I am an Expat and therefore cannot legally open an onshore UK bank account. Also, even if I could, I would have to close fixed term bank accounts with financial penalties.

I am also not sure that the UK electorate could give a stuff about an Expat losing his money in an offshore account.

The UK government may well explicitly guarantee ALL UK deposits over the next few days, but that will not explicitly include offshore accounts.

The current guarantees relating to offshore accounts are poor to useless IMHO. Perhaps HSBC is better than most, they seem to say they cover offshore deposits, whereas HBOS just have a letter of understanding to cover liabilites - whatever that means!!!

I guess if the UK government guarantees all savings for onshore UK accounts, then despite the penalty, I will close down my offshore accounts and move them all to my current onshore HBOS savings accounts. At least then they are 'safe'.

What will you do??? These are odd times - I never thought my savings with HBOS, onshore or offshore would cause me any loss of sleep!!

It's a big boat we're both in and we're not alone in it! I'm going to stay as is until I see the world differently. I'm not comfortable but I'm not overly worried either and the last thing I'm going to do is panic - let's just wait and see how it continues to unfold and perhaps exchange notes again later?

I am with you CM. I wish you hadn't mentioned boats though - I immediately think of the Titanic.

The Daily Telegraph is asking people to ask questions that their 'experts' will reply to. I asked what they thought I should do - be interesting to see if they reply.

That should be a riveting read that leads to a path of enlightenment! I hope you share it regardless and don't worry too much in the meantime.

CM, this is interesting. The Isle Of Man guarantee is better than the Jersey guarantee at the moment, but steps in the right direction.

http://www.bankofscotland-international.co...tion-scheme.asp

This is taken from here:

http://www.bankofscotland-international.co...ore-banking.asp

Interesting but as useful as a chocolate firescreen! It's become painfully evident that offshore UK savings represents a risk that is possibly too high, in the current climate. It's all about parent child relationships - if the UK government can continue to support the onshore parent the offshore child is likely to be reasonably safe, that does not however prevent the parent from selling the child, as in the case of HBOS in Australia and this can be done at any time and without recourse. Fortunately the children are mostly just deposit takers and not "real" banks per se. It's clear from the article you attached that if the worst were to happen then money on deposit in the IOM would spare the childs arm or leg whilst deposits in Guernsey, despite the good standing of its resident population, would be history.

My current plans are to abandon any notion of AIB or any other questionable deposit taker and to begin to move my funds onshore to within range of the UK governments insurance umbrella and that includes funds on deposit with Nationwide IOM. I'm not thinking of canceling any fixed rate deposits yet but that remains an option. Initially I have transferred surplus liquid funds to the likes of Abbey and am seriously toying with the idea of bringing all funds onshore and changing my tax and residency status, albeit on a temporary basis.

[dsfbrit]

CM, we continue to think alike.

I have already moved my non-fixed funds back onshore.

I happened to have to speak to Bank Of Scotland International yesterday at the Isle Of Man as I have a fixed rate account maturing next month.

The poor guy who worked at BOSI sounded really down. He had friends at the local Iceland banks which had suddenly closed. He went through the usual blurb about Lloyds TSB takeover, but his heart was not in it - he was very worried he would be made redundant. Odd phone call really!

I checked out all the rules about shutting down my offshore accounts, I have to pay 6 days interest per month I shut down early - perhaps time to do so - although where to put the funds - HSBC??? They offer Premier accounts for deposits over 60000 pounds (50000 pounds onshore).

Here is a link you may find interesting, it is about the poor sods at the Iceland banks with accounts in IOM. Even if they get compensation then it would take many many years to pay as the IOM scheme works such that it needs furture money (250,000 per bank) to pay current claims.

http://www.moneysupermarket.com/community/...spx?PageIndex=1

Some of these poor sods have lost everything!!

I keep replacing 'kaupthing' with 'BOSI' when I read this. Even now though, I cannot imagine BOSI going the same way!

Will I hold my nerve ???

[Bizz]

The Irish Goverment is extending the guarantee for banks to all banks with a major interest in Ireland that includes Bank of Scotland. Halifax. First Active, IIB

http://www.rte.ie/business/2008/1009/saving.html

[philstone]

The Irish Goverment is extending the guarantee for banks to all banks with a major interest in Ireland that includes Bank of Scotland. Halifax. First Active, IIB

http://www.rte.ie/business/2008/1009/saving.html

Now is the time to invest no need to be cowards. Remember Phil's advice people on this board like Thai stocks when Set 1000. This is a bargain your children and wifes family.

I am glad to say I took down a large amount of stock today onward to greater riches.

Edited October 10, 2008 by philstone

[cmsally]

This is a difficult one to call really. I saved my skin by selling the majority of equities last year, thinking cash was safe. Now it's a bit like having the grim financial reaper following you around. Just when you thought you were safe here he is again.

There is going to be a turn around sooner or later, but just when you think bottom has been reached it's down the chute again.

It's a real hassle to go onshore and have to deal with all that. I wonder if its going to come to that though.

As much as they talk about economy, it does depend a lot on psychology, maybe if the Democrats get voted in it will turn it around. Who knows.

[dsfbrit]

The Irish Goverment is extending the guarantee for banks to all banks with a major interest in Ireland that includes Bank of Scotland. Halifax. First Active, IIB

http://www.rte.ie/business/2008/1009/saving.html

Now is the time to invest no need to be cowards. Remember Phil's advice people on this board like Thai stocks when Set 1000. This is a bargain your children and wifes family.

I am glad to say I took down a large amount of stock today onward to greater riches.

Go for it

The trouble is that I invested my cash 'risk free'. I worked out how much I would need to have a good life - then aimed to achieve that income. With my lifestyle I don't even touch the capital, so a small bit of interest (2 to 5 percent) is fine. I retired at 50 and do not need extra cash nor the 'thrill' of the chase to get extra income.

For me and people like me, to suddenly find that putting cash into a High Street UK bank, makes us 'risk takers' is not something I ever expected in my life time.

Sure I have some money offshore as well, but that was because as an Expat I could not open a UK bank account as the UK authorities think I might be a terrorist or money launderer.

So I will continue to try to put my cash somewhere 'safe', if after this shambles, I actually have some cash to 'stash'.

I hope you make lots of dosh though - I believe this is what you movers and shakers call a 'buying opportunity'.

Edited October 10, 2008 by dsfbrit

[philstone]

I use Anglo Irish and believe me have been trying to get to the bottom of it.My Money is in the Isle of Man and is safe under the Irish Governments 2 year thing.Guess that means offshore.

EPG.

Never check these banks are fakes you will be crying soon.

They are all owned by New York Bankers

Really? And which ones aren't then?

Let me us know with your answer...

I have an icelandic account.

Internet online and its pretty good

Sorry I tried to tell the truth but I guess you had a investor bank (crook) who you trusted. Shame Shame if you lost money Never trust anybody with your money Pm me for advice.

Hope I can help

[philstone]

A pledge too far?

Oct 1st 2008

From the Economist Intelligence Unit ViewsWire

Thanks for posting the above Economist article, Taxexile--hadn't seen it yet.

Separately, anyone have knowledge on deposit guarantees regarding cash in HSBC Jersey offshore accounts? Had a look at the Jersey Financial Services Commission website, where it says:

Q: Does Jersey have a depositor-protection scheme?

A:There is presently no depositor-protection scheme in Jersey but the introduction of such a scheme is being considered.

As the UK's GBP35k protection doesn't extend to offshore places like Jersey, my initial guess is there's no protection.

Cheers, Misty

Who knowns if these offshore banks have the money in good times. Or if they even banks by your country standards. They should be closed down they are frauds soon a lot of crying from holders of this junk

[chiang mai]

A pledge too far?

Oct 1st 2008

From the Economist Intelligence Unit ViewsWire

Thanks for posting the above Economist article, Taxexile--hadn't seen it yet.

Separately, anyone have knowledge on deposit guarantees regarding cash in HSBC Jersey offshore accounts? Had a look at the Jersey Financial Services Commission website, where it says:

Q: Does Jersey have a depositor-protection scheme?

A:There is presently no depositor-protection scheme in Jersey but the introduction of such a scheme is being considered.

As the UK's GBP35k protection doesn't extend to offshore places like Jersey, my initial guess is there's no protection.

Cheers, Misty

Who knowns if these offshore banks have the money in good times. Or if they even banks by your country standards. They should be closed down they are frauds soon a lot of crying from holders of this junk

For f*cks sake Phil, why don't you go play in somebody else's back yard, you speak a load of bollux.

[philstone]

A pledge too far?

Oct 1st 2008

From the Economist Intelligence Unit ViewsWire

Thanks for posting the above Economist article, Taxexile--hadn't seen it yet.

Separately, anyone have knowledge on deposit guarantees regarding cash in HSBC Jersey offshore accounts? Had a look at the Jersey Financial Services Commission website, where it says:

Q: Does Jersey have a depositor-protection scheme?

A:There is presently no depositor-protection scheme in Jersey but the introduction of such a scheme is being considered.

As the UK's GBP35k protection doesn't extend to offshore places like Jersey, my initial guess is there's no protection.

Cheers, Misty

Who knowns if these offshore banks have the money in good times. Or if they even banks by your country standards. They should be closed down they are frauds soon a lot of crying from holders of this junk

For f*cks sake Phil, why don't you go play in somebody else's back yard, you speak a load of <deleted>.

Before you call me <deleted> check the facts. Check my records of profits for 2006 2007 and yes my profits even for 2008 you will amaze of my total wealth. My system is simple do the opposite of what the messes of Thai visa say about the markets. Thank and your kind for making me richer. PM and we can meet and you can eat up your heart about my profits maybe you can learn a few things. Glad I can help you God bless you you need God

Edited October 10, 2008 by philstone

[dsfbrit]

This is the new IOM compensation scheme.

http://www.bankofscotland-international.co...-depositors.pdf

So I guess if you have 50000 with HBOS onshore and 50000 with BOS International Offshore (IOM), then you get back all your cash:

- 50000 from UK authorites

- 50000 from IOM authorities.

However I don't understand the list of Exempted Deposit Takers at the bottom of the document - they don't take part then??

I have sent an email to BOSI to clarify the compensation scheme rules.

[chiang mai]

This is the new IOM compensation scheme.

http://www.bankofscotland-international.co...-depositors.pdf

So I guess if you have 50000 with HBOS onshore and 50000 with BOS International Offshore (IOM), then you get back all your cash:

- 50000 from UK authorites

- 50000 from IOM authorities.

However I don't understand the list of Exempted Deposit Takers at the bottom of the document - they don't take part then??

I have sent an email to BOSI to clarify the compensation scheme rules.

Well that's certainly an improvement of its predecessor, question is now will Guernsey follow. If they do it will certainly ease the strain a little.

Agreed, I don't understand the list of Exempted Deposit takers - they are all now mostly foreign owned banks but HSBC is UK owned.