Are you taking any steps because of the Ukraine situation?

[DetailMouse]

The situation for those in the country is heartbreaking, I've sobbed at several news stories this morning and my heart aches for a Ukrainian friend whose family is still there.

On a far more selfish, practical level have you "done" anything to protect yourself and your own situation? If nothing else I can see an impending deepening of the financial crisis. A friend has taken all her money out of the bank, for example, but it's true she's prone to a bit of drama. Gas supply worries me a lot.

Is there anything we should be doing now to help a bit if the situation is prolonged or worsens?

Why has she taken her money out of the bank?

What is the point of taking money out of the bank?

I don’t think anyone in the U.K. needs to be doing anything at the moment other than being aware of the situation and paying attention to the news.

@Bagelsandbrie

What is the point of taking money out of the bank?

I don’t think anyone in the U.K. needs to be doing anything at the moment other than being aware of the situation and paying attention to the news.

She's scared there'll be a run on the banks if things worsen. I agree we're along way from that now, but once (if) we know that's coming it will be too late.

Runs on banks - no reason for that to happen. This is not a banking crisis and there is huge demand across the world to expand economies.

Now selling crypto - that’s something to do. Nations will move against crypto now because it’s a way to circumvent financial sanctions.

No. Taking all of your money out of the bank? So paying everything including mortgage and bills in cash? How's that going to work out? Does sound like needless drama.

Just keep up with the news from a reliable source. I hope your friend isn't on MN, and doesn't believe everything they read.

I imagine she means her life saving not the days to day money used to pay the mortgage

@DetailMouse

I imagine she means her life saving not the days to day money used to pay the mortgage

I'd say to ask them but it's best not to engage probably. They'll probably be out busy buying vast quantities of tinned tomatoes and toilet paper.

FFS no. I’m not going to do anything hysterical and I suggest you don’t either. It’s an extremely selfish attitude.

There'll be people in Ukraine now who wish they'd taken steps earlier. Full scale war is only a few miles away, if he goes over the border into a Nato country then we're all in.

The only thing I am doing is taking £50 out in case Santander goes down (again) but that has happened 3 times recently so if anything is likely to happen the Cyber threat seems the most realistic, even then I’m sure it’ll get resolved quickly. Otherwise no, I’ve not used cash for years!

Jesus christ. some people.

There’s nothing for us to do except pray for peace, and perhaps donate money for the inevitable refugee crisis.

I’ve cancelled my Mediterranean cruise in school holiday.

I am going to keep a small amount of cash in the house, enough for a week or 2 shopping, in case of a cyber-attack but that is all.

Yes it'd things like that FAQs, it's really not difficult to imagine that the situation could leave us without access to banks, fuel and some aspects of the supply chain for short periods even without it worsening.

Also the inflation situation worsening.

There's a government scheme that guarantees the first £75k (it may have gone up) of money in a bank.

Yes, my car will be 3/4 full of fuel at a times at my (pragmatic and sensible) fathers request. He wants me to be able to drive to where he lives in the country, away from the cities we live near.
He also advised on making sure we have good food supplies, particularly on grain products.

'Life savings' sounds quite dramatic. Her chances of being burgled are probably higher than the entire UK banking system collapsing.
Are we talking £3k or £30k plus?

I was thinking of taking some cash out, in case there’s a cyber attack on the banks or card systems go down for a bit.

Not loads but enough for a few food shops.

It's £85k and in a war like crisis might mean you get your money eventually, but there would certainly be long delays. If the banking infrastructure collapses for example, the government aren't going to be handing out cash.

Obviously this is all very black and unlikely but it is what's happened in other countries in times of crisis.

@DetailMouse

There'll be people in Ukraine now who wish they'd taken steps earlier. Full scale war is only a few miles away, if he goes over the border into a Nato country then we're all in.

And you think what exactly is going to protect you from a nuclear weapon? Money under your mattress certainly won’t. Neither will toilet roll.

No I haven’t done anything. But then, I’m not a Brexit hoarder or a Covid bog roll collector or a petrol guzzler… British people overreacting to things is such an American thing to do and I blame TikTok and other social media for making people turn into scaredy cat idiots.

Taking life savings out of the bank..ffs. Let’s hope she doesn’t get burgled.

Are you sure this 'friend' isn't you OP?

@Im2022

No I haven’t done anything. But then, I’m not a Brexit hoarder or a Covid bog roll collector or a petrol guzzler… British people overreacting to things is such an American thing to do and I blame TikTok and other social media for making people turn into scaredy cat idiots.

Taking life savings out of the bank..ffs. Let’s hope she doesn’t get burgled.

Yes, including threads on here like this one.

@NobodysGonnaKnow nuclear war doesn’t seem particularly likely though, if they bomb us we’ll bomb them and everyone dies (I did a lot of reading about the Cuban missile crisis).

I think cyber attacks could be much more likely though. Especially given pretty much everything is computerised.