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Original poster

Is the RBS now 'safe' or is it still on thin ice?

28 replies

Oliveoil · 13/10/2008 11:42

only my equity is in it and I am a bit hmmmmm

it is a joint account so we are covered under the FSA deal

BUT I could do without having to wait ages and fill in forms to get it back under a compensation scheme

anyone in the know about?

Thanks!

OP posts:
Original poster
Oliveoil · 13/10/2008 13:08

....

OP posts:
enduringsurrey · 13/10/2008 13:52

This reply has been deleted

Message withdrawn

oranges · 13/10/2008 16:41

i'd move it - to abbey or hsbc or premium bonds, tbh. you are covered, but you are right it may take ages to get back

noddyholder · 13/10/2008 16:48

Don't move to the abbey or hsbc(sorry oranges0 NS and I or northern rock are safest atm.Esp until the dust settles as this bailout may work but nothing is 100%

MABS · 13/10/2008 16:56

it's safe, yes i am in the know.

Saggarmakersbottomknocker · 13/10/2008 16:58

Put it in a 'proper' building society or National Savings.

I have RBS shares and they aren't worth the paper they're written on at the moment. Twas part of ds2's uni fund so that's a bit of a problem.......

MABS · 13/10/2008 17:49

agree Saggar, but all bank shares are same at mo sadly,all bad

Original poster
Oliveoil · 13/10/2008 20:42

it is a worry isn't it all this bank stuff?

I have been investigating moving £ into $ but am a bit [gibber] as to what to do

it is all going to go tits up

OP posts:
BecauseImAWitch · 13/10/2008 20:44

I hope it's safe - DH works for one of the companies in the RBS group.

CHOOGIRL · 13/10/2008 21:28

Think we need to get a grip here. Media frenzy is not helpful. Our money is perfectly safe. RBS is the biggest bank by assets in the world. Unfortunately it relied too heavily on wholesale markets for funding hence when this dried up it meant it had to borrow from HM Gov. Share price has fallen dramatically which is not good news as it is DDs school fund, but at the end of the day as a shareholder I have enjoyed massive dividends over the years and benefited from increases in shareprice. As I've said before shares go down as well as up and whilst we may not like it when it goes down that is the risk.

EachPeachPearMum · 13/10/2008 21:36

Oh- when are you going oo? tis v soon yes?
Hope all goes well!

ilovemydog · 13/10/2008 21:39

Wonder if my overdraft is at risk?

CHOOGIRL · 13/10/2008 21:41

Nope. Risk will be to bank if you don't repay!! Seriously banks have taken this funding to allow them to continue lending to personal and small business customers without having to resort to wholesale markets which have dried up.

MABS · 14/10/2008 15:13

well written choogirl

furrycat · 14/10/2008 15:23

I'm with RBS - I think if it got into even more trouble the government would have to totally nationalise as it's so big that if it went bust the fall-out would be enormous.

If the gov did let it fail, there'd be a domino effect and every other bank in the country would fail too so your money wouldn't be safe anywhere

stewart2000 · 15/10/2008 10:10

Rbs is in a better position now because the government have bailed them out, they r now in the porsition where they will try to bring their lending up to date with figures such as last years.

All banks at the minute are being hit hard so i would not worry and i would not be moving your money to cause you more hassle.

Rbs is a very strong financial institution.

sameagain · 15/10/2008 10:25

MABS - how are you in the know? I work for RBS and tend to agree with choogirl's very rational analysis, but do feel we've been let down badly and lied to on several occasions.

edam · 15/10/2008 10:28

I'm toying with the idea of phoning them up and saying 'As one of your new owners, how about a place in the box at rugby?'

Have banked with them for 16 years, mostly because they are very helpful. I can actually call my branch and talk to a real person AND they used to contact me if we were about to go overdrawn (although they don't seem to be doing that any more).

sameagain · 15/10/2008 10:30

LOL Edam - do you know how many times they will have heard that this week?

MABS · 15/10/2008 11:08

family member is a director

Original poster
Oliveoil · 15/10/2008 11:56

money is being moved in austraian bank shortly anyhoo

I feel like a gambler working out should we/shouldn't we on the exchange rate

up down up down up down

OP posts:
sameagain · 15/10/2008 12:06

MABS - is that a director as in on the board - ie the one who've been lying to us (and poss themselves) for all this time, or what they call every other manager these days (like me)

MABS · 15/10/2008 14:03

real in Scotland, not getting involved in sarcasm tho I'm afraid.

sameagain · 15/10/2008 17:52

Sorry - MABS, I wasn't being sarcastic, almost all managers (in Commercial anyway) are called something Director now.

MABS · 15/10/2008 18:17

ok sameagain, actually i dislike this family member, he's a real twat