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emergency advice!

(29 Posts)
FellatioNelson Mon 26-Sep-11 09:20:20

I have rather a lot of money sitting in my current account at the moment. It is more than DH and I are protected against losing if the bank goes bust. I need to move some to more than one new account in a range of different 'financial groups' asap, especially with the euro crisis pending I am becoming a bit paranoid!

Here is my situation:

About to move abroad in a matter of days. Sold our old house, bought another as an investment, put the remainder of our equity into existing bank account.

Need to keep British bank account open for practical reasons, and return visits, DDs for utilities on investment house etc, so have transferred the address on existing bank account to my mother's, (with full permission and knowledge of the bank in question) so she can forward any important paperwork.

Am currently living in my new house but have not been here long enough to have sufficient 'proof' that it is my address in the UK.

Can only open an account in my own name as my DH is already living abroad and cannot be here to co-sign account opening documents.

DH is happy for me to transfer money into accounts opened in my name only. Current account is joint, so I can do that no problem.

DH doesn't want to transfer the money into our new foreign bank account because we will lose through FX rates apparently.

I tried to open an account with a building society the other day and they would not allow me to do it as I do not have sufficient proof of being a UK resident with a permanent UK address. How the fuck do people who flit from home to home manage this? A savings account would be sufficient, I don't need a current account!

Alouiseg Mon 26-Sep-11 20:41:49

You need a Private Bank I think - which "group" are you trying to break out from? St James Place are pretty good, they're under Lloyds umbrella though.

You could dump some in premium bonds, easy to buy. The max is 30k per adult.

Alouiseg Mon 26-Sep-11 20:43:22

First direct might be another possibility, account opening is all online.

FellatioNelson Mon 26-Sep-11 21:46:14

Yes! thank you Anna. I spke to C tonight and he said just buy PBs in both our names. Also can do it in D's name as he is under 16, and can do up to 30k each I think. Also remembered we have an account with C&G from some old ISAs or something, so we can transfer some money into there tomorrow. And I might just go and buy a new build house with cash tommorrow as well. grin

I Luuurve that I can say that. Get me. grin

FellatioNelson Mon 26-Sep-11 21:46:48

Sorry for crap spelling and punctuation there.

FellatioNelson Mon 26-Sep-11 21:47:52

I am getting sacred that the world will implode before I have a chance to move it all. That scary american trader on Youtube is frightening me. What would your DH do?

FellatioNelson Mon 26-Sep-11 21:50:37

C also told me to look at government bonds but it's all a bit much. I don't know what i am doing. confused Not that it's mega millions or anything but I'm still a bit over-awed.

FellatioNelson Mon 26-Sep-11 21:51:30

Am tryi8ng to move it away from NatWest BTW.

FellatioNelson Mon 26-Sep-11 21:51:46

crap typing again. grin

Alouiseg Mon 26-Sep-11 21:53:44

Dh is currently writing a long post on that thread!! He thinks the bloke on BBc/you tube is a bit slow on the uptake, tbh.

Buy a holiday rental on the Suffolk Coast for me I'd look after it ;-)

meditrina Mon 26-Sep-11 21:54:13

Look at National Savings. Their tax free index-linked bonds are often a good buy (fixed term, though).

But I think you actually need to see a proper IFA.

Alouiseg Mon 26-Sep-11 21:54:42

R said about Government Bonds. I did a hmm face grin

FellatioNelson Mon 26-Sep-11 21:56:11

I know, I do medrina, but I don't have time now. confused I'm naughty, I should have done it months ago but life got in the way.

A is DH's long post going to go under your name so you can take all the glory? wink

meditrina Mon 26-Sep-11 21:57:57

Or you could get totally paranoid and just buy gold.

Alouiseg Mon 26-Sep-11 22:00:11

Gold and silver have had their margins fiddled about with to devalue them!! Silver was shit this morning. Fiddled is obviously a technical term (I glazed over)

Dh has has started the post "this is A's husband". It's taken about half an hour so far hmm

FellatioNelson Mon 26-Sep-11 22:00:17

I said that to DH tonight (during our nightly emergency board meeting international phone call grin) but he said he's 'gorn orf' gold because he thinks it's peaked. I said people have been saying that for the last year....

What do we think?

FellatioNelson Mon 26-Sep-11 22:01:17

I can't wait to read that A. He is very thorough. grin

Alouiseg Mon 26-Sep-11 22:02:02

Apparently there is a wine fund which is out performing lots of confusing acronyms right now. Minimum spend is 50k.

FellatioNelson Mon 26-Sep-11 22:05:09

Well I read today that the thing to do is buy whatever 'rich Asians and Arabs want'. that is mostly collectable art (well done you) and 'shiny' stuff, and property in posh parts of India. But I can't really so that this week. confused

FellatioNelson Mon 26-Sep-11 22:05:37

do that this week, not 'so'. hmm

FellatioNelson Mon 26-Sep-11 22:06:08

I just could NOT sink money into wine. I am not that brave.

Alouiseg Mon 26-Sep-11 22:06:15

He's posted!

FellatioNelson Mon 26-Sep-11 22:07:27

ooh good, I'm over there like a groupie.

meditrina Mon 26-Sep-11 22:07:41

I doubt you'd lose on gold, unless you need to go in and out quickly and have little control of your timings. But it is something which can be immediately realised, which might suit.

When we were in similar (redundancy payment to park), we did a mixture of National Savings (3yr and 5 yr index linked tax free bonds), Premium Bonds (for fun and dreams, the return isn't exciting), a cash ISA, and a fixed rated 1 year bond (later reinvested). We're going to spend it probably next year on major house renovations!

meditrina Mon 26-Sep-11 22:10:31

Wine has had a couple of nasty scams, and it's not a market I'd feel comfortable in. I'd still prefer equities to futures (which is what wine essentially is).

But you have to pick your shares carefully - I wouldn't put too much there, but if you feel you can afford a punt, give it a try. With the ageing population, who makes Tena Lady?

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