Should I take ds's savings out of the Coop Bank?

[Ginformation]

Disclaimer: I know shit all about banking and finance. Please advise me!

I would not want to make things worse if there is going to be a run on the bank or something (my knowledge of this comes from It's A Wonderful Life), but it is more angst making as ds is only a toddler and he knows even less than I do about these matters. He has almost £3000 from various sources/gifts/inheritance (lucky sod) and I don't want to jeopardise it. So, WIBU to move it out of the Coop Bank now the status has been downgraded to 'junk'?

YWBU. I think.

If everyone withdrew their money it would come crashing down. Your son's money might be what's keeping it going!

I know jack about finance but three grand would be protected by gov anyway.

you money is protected ...stay calm!

According to the expect on the news before there is no need to worry.

A certain amount is "safe" no matter what isn't it? Something like £20,000?

No reason to, savings are protected up to a certain value, £50k I think.

Moody's downgrades Coop Bank's debt rating

no need to pull your money out at ALL, it's perfectly safe where it is

Thanks, not really panicking, just musing I suppose. We don't have savings (just a money pit house) so it is not a dilemma I have had before.

Euphemia phew! A little more saving to go before we get to that point!

Yabu, unless you have over 85k in there