Gladys Posted September 15, 2008 Share Posted September 15, 2008 Eee lad, thas'll have to keep up. IOM Bank was acquired by NatWest eons ago, Nat West was bought up by RBS, ages ago. Both NatWest and IOM Bank have still traded under their own identity. If the PR is right, the only Manx bank is Conister. Link to comment Share on other sites More sharing options...
Tugger Posted September 15, 2008 Share Posted September 15, 2008 Even Conister's a bit questionable. It's a listed company, and the largest single shareholder is not Manx Link to comment Share on other sites More sharing options...
manshimajin Posted September 15, 2008 Share Posted September 15, 2008 These days the 'Bank Of Under The Mattress' is the safest one around - something to sleep on whilst you ponder the security of the others.... Link to comment Share on other sites More sharing options...
asitis Posted September 16, 2008 Share Posted September 16, 2008 Rumours abound on another financial forum that RBS are in the worst position at the moment and are going to europe for funding ! http://www.housepricecrash.co.uk/forum/ind...=67685&st=0 Link to comment Share on other sites More sharing options...
Lee54 Posted September 16, 2008 Author Share Posted September 16, 2008 On GMTN this morning they interviewed a top money expert and the advice given was to spread any money you have saved around different Banks. Surely this cant help the situation if savers start panicking and start withdrawing funds. Link to comment Share on other sites More sharing options...
Pontius Posted September 16, 2008 Share Posted September 16, 2008 re: Spreading it around ... but if savers only withdraw in order to spread their savings around, then some institutions will gain as savers re-invest. Swings and roundabouts. A problem will only arise if people stop saving, or take out the cash and keep it out - under the mattress for example. Then the real winners are the burglars! I'm off to buy a jemmy, striped jersey, swag bag and stocking mask! Link to comment Share on other sites More sharing options...
ai_Droid Posted September 16, 2008 Share Posted September 16, 2008 These days the 'Bank Of Under The Mattress' is the safest one around - something to sleep on whilst you ponder the security of the others.... Rot. Cash under the mattress will be losing 6% of it's value over time. Link to comment Share on other sites More sharing options...
Theodolite Posted September 16, 2008 Share Posted September 16, 2008 Better to lose 6% than 100% though, surely. Whether the removal of your stash be Pontius in fancy dress or some fat-cat financier in his fancy dress of red braces and those ridiculous pointy shoes. Which strangely enough is where my (non-Island based) pension went - matter right now being investigated by SFA and SFO . Link to comment Share on other sites More sharing options...
ai_Droid Posted September 16, 2008 Share Posted September 16, 2008 Better to lose 6% than 100% though, surely. Whether the removal of your stash be Pontius in fancy dress or some fat-cat financier in his fancy dress of red braces and those ridiculous pointy shoes. Which strangely enough is where my (non-Island based) pension went - matter right now being investigated by SFA and SFO . No, because my mattress doesn't have £15k of protection. Pension: it was invested not banked I'm guessing? Link to comment Share on other sites More sharing options...
manxy Posted September 16, 2008 Share Posted September 16, 2008 On GMTN this morning they interviewed a top money expert and the advice given was to spread any money you have saved around different Banks. Surely this cant help the situation if savers start panicking and start withdrawing funds. Reference the expert, wouldn't that defeat the object of having high interest accounts and the more money you have in one account, then the higher the percentage return? Link to comment Share on other sites More sharing options...
Tempus Fugit Posted September 16, 2008 Share Posted September 16, 2008 financial advisers, experts, .... at least Dick Turpin wore a mask Link to comment Share on other sites More sharing options...
bluemonday Posted September 16, 2008 Share Posted September 16, 2008 Question. Barclays Bank Offshore. Does that come under Manx or UK DCS if things go wrong? Link to comment Share on other sites More sharing options...
ai_Droid Posted September 16, 2008 Share Posted September 16, 2008 Question. Barclays Bank Offshore. Does that come under Manx or UK DCS if things go wrong? Manx, as they're operating under an FSC license: http://www.barclays.com/international/ii_isle_of_man.html DEPOSITS MADE WITH OFFICES OF BARCLAYS PRIVATE CLIENTS INTERNATIONAL LIMITED IN ISLE OF MAN ARE NOT COVERED BY THE UK FINANCIAL SERVICES COMPENSATION SCHEME. DEPOSITS MADE WITH AN ISLE OF MAN OFFICE OF BARCLAYS PRIVATE CLIENTS INTERNATIONAL LIMITED ARE COVERED BY THE DEPOSITORS COMPENSATION SCHEME CONTAINED IN THE BANKING BUSINESS (COMPENSATION OF DEPOSITORS) REGULATIONS 1991. Link to comment Share on other sites More sharing options...
Moomar65 Posted September 16, 2008 Share Posted September 16, 2008 Depositor's Compensation Schemes apply to the location of the account, therefore if you hold a Barclays account in the UK, that account is covered by the UK DCS and if the account is with Barclays Offshore, depending on which island the account is held depends on the DCS it falls under. Link to comment Share on other sites More sharing options...
bluemonday Posted September 16, 2008 Share Posted September 16, 2008 Cheers both, I'll pass that on. Link to comment Share on other sites More sharing options...
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