Investboy
Member of DD Central
Trying to recover from P2P revolution
Posts: 564
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Post by Investboy on Nov 12, 2015 12:32:54 GMT
...With p2p isa it is not inconceivable that the fund gets up to 100m pounds in years to come. So where to put it ? In a bank savings account ? ... Put some in gold What happens to the PF if the bank it is deposited with goes bust? Is only the first 85K covered? 75k and then less and less every year. This is a hoax anyway to keep people from bank run. In case of collapse of major bank there are no money to return to people so the government will just print them.
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Post by westonkevRS on Nov 12, 2015 14:09:18 GMT
What happens to the PF if the bank it is deposited with goes bust? Is only the first 85K covered? Don't worry, it's with one of those "too big to fail" banks, the government will bail them (and us) out.... Kevin.
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adrianc
Member of DD Central
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Post by adrianc on Nov 12, 2015 16:19:11 GMT
Is only the first 85K covered? 75k and then less and less every year. It's the £ equivalent of the European-standardised €100k. If the £ weakens against the €, then the coverage will be increased again. At what price to inflation...? Mind you, if it all goes THAT south, that might be academic anyway.
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