^OPM^

I currently keep most my cash at ICICI bank-but i waanna move it as i dont seem to be able to easily access their website at all times plus there is now higher rates about.
I want the highest rate i can but with instant access, be able to control account from internet and have faith that it is a safe bank, oh and a good rate with non of these introductory bonus things that run out after a year.

Im hearing things now about icelandic banks could be next in trouble so that rules out kaupthing edge account altho they pay a good rate-so where does that leave safe-funny enough northern rock springs to mind-before u mention has also to be an account that is open to folk in mid 30's an dnot just over 50's.

I know i can look on websites to find a high rate but what do u folk make of all this crisis hitting banks-is it best to avoid any foreign only banks?

bugeyeandy

ING are pretty good, i've had money with them for a couple of years now and it's been a fairly consistent 5% return.
They're not instant access as you need to wait 3-5 days for the bank transfer when you move funds via the website but still good access.
Website is very secure too, with login access that a keylogger wouldn't be able to crack.

lestippp

Northern Rock Seriously, it's government run now, so if anything happens, myself and all the other forum users will bail you out.... via our income tax

Defo safest place for your money just now

Paul3446

Can anyone translate the title of this thread for me?

Dunk

iTrader: (1)

Unless you're putting in excess of £35k there's no risk as the FSA covers it.

D

^OPM^

sorted-was multi tasking at time with several open windows

^OPM^

I know that-but i curently keep most of my cash with ICICI -but if say it went under ,what sort of hassles would you have trying to get your cash back etc-may take months and months of hassle to eventually get it back out with it being foreign.

what would scooby do

stack as much as legally allowed into instant access ISA (Bradford and Bingley did one), tip rest into savings account

andy97

iTrader: (1)

Put a bet on with a big betting firm asking for odds on your bank going under, once they have worked out the odds, which should be very long, then make the appropriate bet to cover your deposited money. In effect, a one off premium payment to cover your money in the event your bank collapses.

Andy

Graz

According to Savings Accounts: Earn 6.5% instant access & a rate guarantee until 2012....
this is the best deal at the moment Kaupthing Edge High Interest Savings Accounts and Online Banking

As for ING, they were good once but best avoided now ING Direct… A crash, a burn, a sell-out all in one! : Martin's Blog

Tiggs

No bank - and certainly not ICICI is going to go "under" - the £35k FSA security is nice but about as needed as "hit by lightening 4 times" insurance.

boxst

On the flip side of that, I have my mortgage with ING Direct and was of course happy they didn't pass on interest rates. It does seem an odd move to protect their mortgage base and the cost of their savings customers.

Steve

Deep Singh

ICICI is Indias largest bank, and afaik has no exposure to subprime

andy97

iTrader: (1)

What about those millions of shanty houses in downtown bombay

dpb

Matress

nooobyscoooby

Agreed - Northern Rock is the one! All the others are limited to guarantee of £30K payout if they go bust or £60K if it is a joint account - and it does not matter how many accounts or how much much you may have with that bank, those are the absolute limits.

In other words, if you had 10 accounts each with £20K in a bank, you would only get £30K if in a single name or £60K if in joint names.

john banks

It is £35k, but the total fund is only guarantees £4bn as of yesterday which is not enough even to cover a modest sized bank.

With Fitch putting Landsbanki on watch, I've emptied our Icesave account. The CDS rates are just too high for my liking, plus a foreign compensation scheme to deal with in a highly leveraged small economy (Iceland).

Deposit remains in ICICI, Sainsbury's, Alliance and Leicester for now, although I did pull from the latter when their share price took a dive around the time of the Northern Rock collapse.

Maybe I'm paranoid, but in the middle of a credit crunch, talk is cheap.

Deep Singh

The land they are on is probably worth more than the land your house is built on