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    Northern Rock to scrap 100% savings guarantee

    Northern Rocks guarantee that protects 100% of customers savings is likely to be removed within the next few weeks in preparation for an eventual sale of the nationalised lender.......................

    sharecast.com/cgi…405

    6 Comments

    best to move the savings asap to a safer bank or place.
    shocking though, so when they remove that, people who still have thousands of savings with them they may not be guaranteed to get the whole lot back

    Only applies to Savings over £50 000, under that amount all savings are guaranteed safe by legislation.

    Original Poster

    beth3735;7801852

    best to move the savings asap to a safer bank or place.:o shocking … best to move the savings asap to a safer bank or place.:o shocking though, so when they remove that, people who still have thousands of savings with them they may not be guaranteed to get the whole lot back



    Yup, so be the first in the que to get it out, at the moment Santander look the safest, but you can never tell as the Euro looks in deep shhhh. :?

    Banned

    Inactive;7802090

    Only applies to Savings over £50 000, under that amount all savings are … Only applies to Savings over £50 000, under that amount all savings are guaranteed safe by legislation.



    So would I be Ok if I opened seperate accounts and put the money in the kids names?

    As far as I can see this just removes extra protection that the other banks don't have anyway.

    Original Poster

    Spod;7802420

    As far as I can see this just removes extra protection that the other … As far as I can see this just removes extra protection that the other banks don't have anyway.



    You are right. So Peeps, need to now remove the extra over the 50k and treat Northern Rock as any other institution.
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