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Money matters

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how do you know if a fanancial institution is "safe" or about to implode?

1 reply

MamaChris · 21/11/2008 20:45

I would like to make sure our savings are in the safest places, and am thinking of moving my ISA from Egg (owned by Citigroup) to our local small building society (branch accounts only), with the idea that they're less likely to have got into the whole thing of borrowing money from the markets only to loan it out again in 125% mortgages. But DP says smaller is scarier.

So how can you tell? Is there a list somewhere of the financial health of various places?

OP posts:
Lubyloo · 21/11/2008 23:01

Your savings are guaranteed up to £50000. As long as you don't have more than £50k with any one bank then your savings will be safe.

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