Banks? No thanks!

[Turk182]

Once you find out that they are thinking of raiding our bank accounts
too, it will be too late to get your cash!

Evidence is that some people with large bank balances are already
taking steps to prepare for that possibility!

Are you?

Turk182

[Nightjar]

Why would anybody have a large amount of money in a bank, with the
interest rates they pay?

Colin Bignell

[AlanG]

Anyone old enough to just want their savings protected against
inflation. There are still banks offering accounts that have interest
rates a couple of precent above inflation rates for those with large
amounts to invest

[Norman Wells]

Oh? Do tell us which.

[AlanG]

On Thu, 28 Mar 2013 10:33:21 -0000, "Norman Wells" <h...@unseen.ac.am>
wrote:

Do your own research

[Martin Brown]

You made the absurd claim it is up to you to support it with evidence.

Feb RPI 3.2% CPI 2.8%

Best interest bearing UK bank account I know of is 3% you might get a
bit more by tying your money up for longer but not another 2%. Investec
helpfully list the highest bearing UK savings account by month on their
website as below:

http://www.investec.co.uk/products-and-services/banking-services/personal-savings-accounts/investec-high-5-account/2013.html

Your turn to demonstrate a UK bank account bearing 5% or above.
(and isn't junk bond with money put at risk)

--
Regards,
Martin Brown

[Nightjar]

The question still stands as that is far from the best option. To take a
simple example, buy an industrial unit to rent out and you would expect
to get at least 8.5% return on capital.

Colin Bignell

[John]

"Nightjar" wrote

> The question still stands as that is far from the best option. To take a
> simple example, buy an industrial unit to rent out and you would expect to
> get at least 8.5% return on capital.

That is one possibility, but you could be opening yourself to non-paying
tennants etc..

John.

[R. Mark Clayton]

"Martin Brown" <|||newspam|||@nezumi.demon.co.uk> wrote in message
news:zZV4t.268998$PC7.2...@newsfe03.iad...

You will easily get 4% on the high street.

[Nightjar]

In which case you send in the bailiffs to seize property to cover the
value of the rent, or, if it is permitted in the lease, chuck them out
and keep the deposit. If the tenant is a limited company, you can issue
a statutory demand and, if that doesn't get your money in 21 days, a
winding up petition. That is a very good way to focus the minds of the
directors. Alternatively, you could give a licence to occupy with
payment in advance, rather than lease the property, or you find another
way to make more than the banks offer; letting commercial property was
only one example.

Colin Bignell

[Martin Brown]

> You will easily get 4% on the high street.

Please tell me more. Most banks I see round here are offering 1.6% or
less on deposits and some are doing a miserly 0.1% on savings.

Or do I need to deposit at least �10M+ to get that 4% rate?

--
Regards,
Martin Brown

[Norman Wells]

> You will easily get 4% on the high street.

Oh? Do tell us where.

[AlanG]

2 seconds
http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html

[Nightjar]

On 28/03/2013 18:52, AlanG wrote:
> On Thu, 28 Mar 2013 11:39:05 +0000, Martin Brown
> <|||newspam|||@nezumi.demon.co.uk> wrote:

...

>> Your turn to demonstrate a UK bank account bearing 5% or above.
>> (and isn't junk bond with money put at risk)
>
> 2 seconds
> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html

Introductory offers are hardly representative.

Colin Bignell

[Martin Brown]

If you have shit for brains I can see why you might be taken in by that.

--
Regards,
Martin Brown

[Alex Heney]

On Thu, 28 Mar 2013 08:49:45 +0000, AlanG <inv...@invalid.co.uk>
wrote:

No there aren't.

You won't find any bank (or building society) savings accounts paying
out more than about 2.5%, maybe 3% but I haven't seen any.
--
Alex Heney, Global Villager
Never call a man a fool. Instead, borrow from him.
To reply by email, my address is alexDOTheneyATgmailDOTcom

[Alex Heney]

>You will easily get 4% on the high street.
>

Not from anywhere that will be in existence long enough for you to
reclaim the money.

[Alex Heney]

On Thu, 28 Mar 2013 18:52:51 +0000, AlanG <inv...@invalid.co.uk>

That is a current account, not a savings account.

You have to have at least �1000 per month paid in from an external
source (i.e. not from another Nationwide account), and it is only a
special 12 month introductory offer , after which the rate drops to
1%. and it is only payable on the first �2500 - the rate is zero on
balances over �2500.

--
Alex Heney, Global Villager

Rubber bands have snappy endings!

[Martin Brown]

On 28/03/2013 21:23, Alex Heney wrote:
> On Thu, 28 Mar 2013 08:49:45 +0000, AlanG <inv...@invalid.co.uk>
> wrote:
>
>> On Thu, 28 Mar 2013 00:11:20 +0000, Nightjar
>> <c...@insert.my.surname.here.me.uk> wrote:
>>
>>> On 27/03/2013 23:02, Turk182 wrote:
>>>> Once you find out that they are thinking of raiding our bank accounts
>>>> too, it will be too late to get your cash!
>>>>
>>>> Evidence is that some people with large bank balances are already
>>>> taking steps to prepare for that possibility!
>>>>
>>>> Are you?
>>>
>>> Why would anybody have a large amount of money in a bank, with the
>>> interest rates they pay?
>>>
>> Anyone old enough to just want their savings protected against
>> inflation. There are still banks offering accounts that have interest
>> rates a couple of precent above inflation rates for those with large
>> amounts to invest
>
> No there aren't.
>
> You won't find any bank (or building society) savings accounts paying
> out more than about 2.5%, maybe 3% but I haven't seen any.

3% on Santanders 123 current account with balance �3k - �20k.
(T&C apply ISRT 2x DD and pay in �500 pcm)
Spanish Bank in UK that was Abbey National once long ago.

There are some with headline rates in the adverts of 5% including first
year bonuses but if you read the small print their true effective rate
is more like 2.5% or less. Banking is very caveat emptor these days.

--
Regards,
Martin Brown

[Curlytop]

Turk182 set the following eddies spiralling through the space-time
continuum:

If only I had the need to take such precautions. :(
--
ξ: ) Proud to be curly

Interchange the alphabetic letter groups to reply

[Turk182]

I understand that th British Governments £80,000 protection for people
with money in British banks has now gone. Is that correct?

Turk182

[Nightjar]

Still trying to spread needless panic?

It is not £80,000 and it is not all British banks, but the first £85,000
of money per person per British *regulated* institution is protected by
the Financial Services Compensation Scheme.

http://www.moneysavingexpert.com/savings/safe-savings

Colin Bignell

[Norman Wells]

Nightjar wrote:
> On 28/03/2013 23:05, Turk182 wrote:
>> On 28 Mar, 21:53, Curlytop <pvstownsend.zyx....@ntlworld.com> wrote:
>>> Turk182 set the following eddies spiralling through the space-time
>>> continuum:
>>>
>>>> Once you find out that they are thinking of raiding our bank
>>>> accounts too, it will be too late to get your cash!
>>>
>>>> Evidence is that some people with large bank balances are already
>>>> taking steps to prepare for that possibility!
>>>

>> I understand that th British Governments £80,000 protection for
>> people with money in British banks has now gone. Is that correct?
>
> Still trying to spread needless panic?
>
> It is not £80,000 and it is not all British banks, but the first
> £85,000 of money per person per British *regulated* institution is
> protected by the Financial Services Compensation Scheme.
>
> http://www.moneysavingexpert.com/savings/safe-savings

The Cypriots and all members of the EU have exactly the same guarantee
backed by the European Central Bank up to €100,000.

The problem, as was highlighted in the first proposal from Cyprus, which
was to raid all bank accounts above a much lower figure, was that the
'guarantee' covers bank collapse but does not protect you from any
'tax'. So a 'tax' raid on all accounts would not have contravened the
guarantee, and all depositors could have lost their money perfectly
legally with no compensation.

Obviously, fearing riots on the streets, they sensibly decided to apply
the theft tax only to accounts over €100,000 so as to give the
appearance that the guarantee was effective when, in reality, it was
unrelated. It also had the convenient effect that it was only
"Russians' laundered money" (TM) that was being taken, so that's alright
then. Russians bailing out the Eurozone? Perfect!

The fact that no laundering of money had been established, and that it
would have been illegal for any Cypriot bank to handle it and make money
out of it if it was, were rather glossed over, I thought.

[Nightjar]

As I pointed out earlier, if you have that sort of money to invest,
putting it into a bank is not a particularly good option anyway.

Colin Bignell

[AlanG]

I never claimed anything was representative. I said some retired
people would be happy to keep their savings in an account that paid
above inflation and that such accounts were available for some people.
Then I got the ignoramus brigade shouting that there were no such
accounts. They are wrong

[AlanG]

On Thu, 28 Mar 2013 21:06:23 +0000, Martin Brown

Are you claiming they will not pay 5% if all conditions are met?

[AlanG]

On Thu, 28 Mar 2013 21:29:39 +0000, Alex Heney <m...@privacy.net>

It is an account that pays above inflation

[GB]

On 29/03/2013 11:32, AlanG wrote:

>>>>>>>>
>>>>>>>> Why would anybody have a large amount of money in a bank, with the
>>>>>>>> interest rates they pay?

>>> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html
>>
>> If you have shit for brains I can see why you might be taken in by that.
>
> Are you claiming they will not pay 5% if all conditions are met?

It's a come-hither rate for the first �2.5k. With due respect, that's
not the 'large amount' previously referred to.

[Nightjar]

I don't think you have done the sums on that offer. If you don't pay in
�1,000 a month, there is a �5 charge, which would reduce the interest
earned in a year on a single deposit of �2,500 to �65 or 2.6%. If you
pay in �1,000 a month, with no initial deposit, and keep the amount in
the account above �2,500 after it reaches that amount, you earn �114.09
on the �12,000 you have paid in.

Colin Bignell

[Martin Brown]

On 29/03/2013 11:32, AlanG wrote:
> On Thu, 28 Mar 2013 21:06:23 +0000, Martin Brown
> <|||newspam|||@nezumi.demon.co.uk> wrote:
>
>> On 28/03/2013 18:52, AlanG wrote:
>>> On Thu, 28 Mar 2013 11:39:05 +0000, Martin Brown
>>> <|||newspam|||@nezumi.demon.co.uk> wrote:
>>>
>>>> On 28/03/2013 11:24, AlanG wrote:
>>>>> On Thu, 28 Mar 2013 10:33:21 -0000, "Norman Wells" <h...@unseen.ac.am>
>>>>> wrote:
>>>>>
>>>>>> AlanG wrote:
>>>>>>> On Thu, 28 Mar 2013 00:11:20 +0000, Nightjar
>>>>>>> <c...@insert.my.surname.here.me.uk> wrote:
>>>>>>>
>>>>>>>> On 27/03/2013 23:02, Turk182 wrote:
>>>>>>>>> Once you find out that they are thinking of raiding our bank
>>>>>>>>> accounts too, it will be too late to get your cash!
>>>>>>>>>
>>>>>>>>> Evidence is that some people with large bank balances are already
>>>>>>>>> taking steps to prepare for that possibility!
>>>>>>>>>
>>>>>>>>> Are you?
>>>>>>>>
>>>>>>>> Why would anybody have a large amount of money in a bank, with the
>>>>>>>> interest rates they pay?
>>>>>>>>
>>>>>>> Anyone old enough to just want their savings protected against
>>>>>>> inflation. There are still banks offering accounts that have interest
>>>>>>> rates a couple of precent above inflation rates for those with large
>>>>>>> amounts to invest

If you really believe that �2500 is a large amount of money for your
entire life savings then I think you have already lost the plot. It is
completely bizarre to have so little savings if you can meet the �1000
net monthly income criterion to qualify for using the account.

>>>>>> Oh? Do tell us which.
>>>>>
>>>>> Do your own research
>>>>
>>>> You made the absurd claim it is up to you to support it with evidence.
>>>>
>>>> Feb RPI 3.2% CPI 2.8%
>>>>
>>>> Best interest bearing UK bank account I know of is 3% you might get a
>>>> bit more by tying your money up for longer but not another 2%. Investec
>>>> helpfully list the highest bearing UK savings account by month on their
>>>> website as below:
>>>>
>>>> http://www.investec.co.uk/products-and-services/banking-services/personal-savings-accounts/investec-high-5-account/2013.html
>>>>
>>>> Your turn to demonstrate a UK bank account bearing 5% or above.
>>>> (and isn't junk bond with money put at risk)
>>>
>>> 2 seconds
>>> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html
>>
>> If you have shit for brains I can see why you might be taken in by that.
>
> Are you claiming they will not pay 5% if all conditions are met?

The conditions are sufficiently restrictive and onerous that they are
almost impossible for most pensioners to meet, so as a way of protecting
their life savings from inflation it is completely useless. The amount
it allows is way too low to be useful and the monthly salary too high -
certainly it is very clever marketing on their part.

The limit of the banks exposure is at most �2500 x 5% = �125 even if you
managed the account perfectly and it reverts to 1% after a year.

And unless you are very cunning they get to borrow another �500 off you
on average since you cannot let the balance drop below �2500 and have to
have �1000 pcm paid in to qualify (and out again every month).

--
Regards,
Martin Brown

[AlanG]

On Fri, 29 Mar 2013 14:39:37 +0000, Nightjar

I said there were accounts that paid above inflation rate if you could
meet the conditions. That is all I claimed.

[Nightjar]

But that one doesn't. It only appears to at first sight.

Colin Bignell

[AlanG]

On Fri, 29 Mar 2013 17:19:18 +0000, Nightjar

If you meet their conditions they will pay you 5% interest. To not do
so would be illegal

[Turk182]

The great British public are already voting with their cash.

I have spoken to pensioners who are now accumulating cash. Banks are
criminal organisations, and people know this now.

The government is in collusion with banks, Trust none of them; they
have already stolen zillions from the public by raiding pensions and
giving near zero interest in bank accounts.

The banks already have contingencies for a big switch off, and
security companies are being consulted over 'what if'' - fact!

http://www.standard.co.uk/business/money/money-hoarding-may-seem-safe-as-houses-but-its-not-secure-8530779.html

Turk182

[Nightjar]

Indeed, but, as I point out above, the other conditions on the account
mean that you won't end up at year end with 5% of the amount of money
you put into the account, even though you get paid an AER of 5% on
�2,500. If you keep �2,500 in the account and keep putting in and taking
out the same �1,000 every month you could, just, edge the annual profit
above the RPI, but after a year, when the rate drops to 1%, you are
going to have to find another way to earn interest on the money. Also,
if you are going to go to that much trouble, you really would do better
to look to other investments that would give better returns for less
effort from the start.

Colin Bignell

[Alex Heney]

On Fri, 29 Mar 2013 11:31:44 +0000, AlanG <inv...@invalid.co.uk>

wrote:

>On Thu, 28 Mar 2013 19:10:21 +0000, Nightjar
><c...@insert.my.surname.here.me.uk> wrote:
>
>>On 28/03/2013 18:52, AlanG wrote:
>>> On Thu, 28 Mar 2013 11:39:05 +0000, Martin Brown
>>> <|||newspam|||@nezumi.demon.co.uk> wrote:
>>...
>>>> Your turn to demonstrate a UK bank account bearing 5% or above.
>>>> (and isn't junk bond with money put at risk)
>>>
>>> 2 seconds
>>> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html
>>
>>Introductory offers are hardly representative.
>>
>I never claimed anything was representative. I said some retired
>people would be happy to keep their savings in an account that paid
>above inflation and that such accounts were available for some people.
>Then I got the ignoramus brigade shouting that there were no such
>accounts. They are wrong

No they aren't.

The account you posted details of is NOT suitable for keeping ones
savings in.

--
Alex Heney, Global Villager

People own dogs. Cats own people.

[Alex Heney]

On Fri, 29 Mar 2013 15:47:31 +0000, AlanG <inv...@invalid.co.uk>
wrote:

Well then you were claiming something rather pointless.

We were discussing places to put your savings.

That is not such a place.

--
Alex Heney, Global Villager

If you think education is expensive, try ignorance.

[Alex Heney]

On Fri, 29 Mar 2013 11:33:27 +0000, AlanG <inv...@invalid.co.uk>

It is certainly not an account which comes anywhere remotely close to
meeting the conditions *you* set out in your first post in this
thread:

>>>>>>> Anyone old enough to just want their savings protected against
>>>>>>> inflation. There are still banks offering accounts that have interest
>>>>>>> rates a couple of precent above inflation rates for those with large
>>>>>>> amounts to invest

The above account doesn't come close to meeting that, since it is no
use for savings (only income), and even if it did continue to pay out
when if you weren't putting in �1000 per month, �2500 is hardly a
"large amount".

Now find us an account into which you can pay a "large" amount and no
other payments, and get 4.5% plus on the whole amount.

Then you will have met the condition *you* set up.

--
Alex Heney, Global Villager

Keyboard Not Found - Press [F1] to Continue

[Alex Heney]

I said there might be some at 3%, but that one is again not a savings
account, which is what was initially being talked about above.

>There are some with headline rates in the adverts of 5% including first
>year bonuses but if you read the small print their true effective rate
>is more like 2.5% or less. Banking is very caveat emptor these days.

Indeed.

It always was to a fair extent, but does seem to be worse in spite of
laws supposed to protect consumers more.

--
Alex Heney, Global Villager

Mary had a little lamb. The doctor was surprised.

[Alex Heney]

On Fri, 29 Mar 2013 11:57:32 -0700 (PDT), Turk182
<digital...@aol.com> wrote:

>On 29 Mar, 09:35, Nightjar <c...@insert.my.surname.here.me.uk> wrote:
>> On 28/03/2013 23:05, Turk182 wrote:
>>
>>
>>
>>
>>
>>
>>
>>
>>
>> > On 28 Mar, 21:53, Curlytop <pvstownsend.zyx....@ntlworld.com> wrote:
>> >> Turk182 set the following eddies spiralling through the space-time
>> >> continuum:
>>
>> >>> Once you find out that they are thinking of raiding our bank accounts
>> >>> too, it will be too late to get your cash!
>>
>> >>> Evidence is that some people �with large bank balances are already
>> >>> taking steps to prepare for that possibility!
>>
>> >>> Are you?
>>
>> >>> Turk182
>>
>> >> If only I had the need to take such precautions. :(
>> >> --

>> >> ?: ) Proud to be curly

>>
>> >> Interchange the alphabetic letter groups to reply
>>
>> > I understand that th British Governments �80,000 protection for people
>> > with money in British banks has now gone. �Is that correct?
>>
>> Still trying to spread needless panic?
>>
>> It is not �80,000 and it is not all British banks, but the first �85,000
>> of money per person per British *regulated* institution is protected by
>> the Financial Services Compensation Scheme.
>>
>> http://www.moneysavingexpert.com/savings/safe-savings
>>
>> Colin Bignell
>
>The great British public are already voting with their cash.
>
>I have spoken to pensioners who are now accumulating cash.

I know. The media have a lot to answer for over this.

It is really a rather stupid thing to do, since it will earn *some*
interest in savings accounts, while it earns NONE as cash.

> Banks are
>criminal organisations, and people know this now.

Stupid people believe that.

Nobody actually "knows" it, even if they think they do.

>
>The government is in collusion with banks, Trust none of them; they
>have already stolen zillions from the public by raiding pensions and
>giving near zero interest in bank accounts.

Well so long as the base rate is as low as it currently is, the
interest rates are going to be very low on savings.

The pensions raids (by the government, not the banks) I fully accept.

>
>The banks already have contingencies for a big switch off, and
>security companies are being consulted over 'what if'' - fact!
>
>http://www.standard.co.uk/business/money/money-hoarding-may-seem-safe-as-houses-but-its-not-secure-8530779.html
>

Your link had nothing to do with the preceding paragraph.

And in fact was a strong and sensible argument *against* accumulating
cash.

Do you have any evidence for the statement in your last paragraph, or
is that just yet more scaremongering on your part?

--
Alex Heney, Global Villager

The hangman let us down.

[AlanG]

On Sat, 30 Mar 2013 01:10:03 +0000, Alex Heney <m...@privacy.net>

Yes it is

[AlanG]

On Sat, 30 Mar 2013 01:08:39 +0000, Alex Heney <m...@privacy.net>
wrote:

>On Fri, 29 Mar 2013 11:31:44 +0000, AlanG <inv...@invalid.co.uk>
>wrote:
>
>>On Thu, 28 Mar 2013 19:10:21 +0000, Nightjar
>><c...@insert.my.surname.here.me.uk> wrote:
>>
>>>On 28/03/2013 18:52, AlanG wrote:
>>>> On Thu, 28 Mar 2013 11:39:05 +0000, Martin Brown
>>>> <|||newspam|||@nezumi.demon.co.uk> wrote:
>>>...
>>>>> Your turn to demonstrate a UK bank account bearing 5% or above.
>>>>> (and isn't junk bond with money put at risk)
>>>>
>>>> 2 seconds
>>>> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html
>>>
>>>Introductory offers are hardly representative.
>>>
>>I never claimed anything was representative. I said some retired
>>people would be happy to keep their savings in an account that paid
>>above inflation and that such accounts were available for some people.
>>Then I got the ignoramus brigade shouting that there were no such
>>accounts. They are wrong
>
>No they aren't.
>
>The account you posted details of is NOT suitable for keeping ones
>savings in.

Yes it is

[AlanG]

On Sat, 30 Mar 2013 01:14:59 +0000, Alex Heney <m...@privacy.net>

It pays above inflation
>

[Martin Brown]

If you have miniscule life savings and a very high pension income.

Only if your lifetime savings amount to no more than �2500 *AND* you
have a monthly income of at least �1000 or are prepared to faff about
looping money between accounts with direct debits to fulfil the banks
requirements. The maximum you can hope to gain by this is a mere �125.

In the latter case you are already down to tying up �3500 to get the
deal so the headline rate has already dropped to 5/7*5% = 3.57%.

The scope of the original claim you made was that *LARGE* amounts of
savings could be placed in banks earning interest 2% above inflation. We
were talking about the risk for balances above �85k at the time.

Finding absolutely risk free decent interest investments for elderly
parents modest life savings is a major challenge these days. They have a
tendency to be very loyal to their bank who rip them off with 0.1% and
will not tolerate even the slightest risk to capital.

--
Regards,
Martin Brown

[Nightjar]

I am a pensioner and that is the last thing I would be doing. I want my
money to grow.

> Banks are
> criminal organisations, and people know this now.

A remarkably stupid comment.

> The government is in collusion with banks, Trust none of them; they
> have already stolen zillions from the public by raiding pensions

I started making my own pension arrangements when I was 19. I knew than
that the state pension was never going to be adequate. What surprises me
is that this is news to anybody.

> and
> giving near zero interest in bank accounts.

Which is why I asked, in the first place, why would anybody have a large
amount of money in a bank, with the interest rates they pay? I have
already pointed out a relatively safe way to earn a return of 8.5% on
capital.

>
> The banks already have contingencies for a big switch off, and
> security companies are being consulted over 'what if'' - fact!

People who end their comments with 'fact' usually do so because they
don't have any evidence to back up their assertions.

> http://www.standard.co.uk/business/money/money-hoarding-may-seem-safe-as-houses-but-its-not-secure-8530779.html

An average of £200 per household held in cash? Probably more in my case,
but for convenience, not because I am hoarding it. I have a cash float
to top up my wallet for the increasingly smaller number of things it is
not worth getting a card out for and I always have Euro ready for when I
get a sudden urge to drive to somewhere on mainland Europe.

Colin Bignell

[tim.....]

"Nightjar" <c...@insert.my.surname.here.me.uk> wrote in message
news:O_adnYqkOqgxF87M...@giganews.com...

> On 27/03/2013 23:02, Turk182 wrote:

>> Once you find out that they are thinking of raiding our bank accounts
>> too, it will be too late to get your cash!
>>
>> Evidence is that some people with large bank balances are already
>> taking steps to prepare for that possibility!
>>
>> Are you?
>

> Why would anybody have a large amount of money in a bank, with the
> interest rates they pay?

Because every reasonable alternative has the very real risk of negative
interest

tim

[tim.....]

"R. Mark Clayton" <nospam...@btinternet.com> wrote in message
news:CbSdndN9JqJJ78nM...@bt.com...
>
> "Martin Brown" <|||newspam|||@nezumi.demon.co.uk> wrote in message
> news:zZV4t.268998$PC7.2...@newsfe03.iad...

>> On 28/03/2013 11:24, AlanG wrote:
>>> On Thu, 28 Mar 2013 10:33:21 -0000, "Norman Wells" <h...@unseen.ac.am>
>>> wrote:
>>>>>>
>>>>> Anyone old enough to just want their savings protected against
>>>>> inflation. There are still banks offering accounts that have interest
>>>>> rates a couple of precent above inflation rates for those with large
>>>>> amounts to invest
>>>>
>>>> Oh? Do tell us which.
>>>
>>> Do your own research
>>
>> You made the absurd claim it is up to you to support it with evidence.
>>
>> Feb RPI 3.2% CPI 2.8%
>>
>> Best interest bearing UK bank account I know of is 3% you might get a bit
>> more by tying your money up for longer but not another 2%. Investec
>> helpfully list the highest bearing UK savings account by month on their
>> website as below:
>>
>> http://www.investec.co.uk/products-and-services/banking-services/personal-savings-accounts/investec-high-5-account/2013.html
>>

>> Your turn to demonstrate a UK bank account bearing 5% or above.
>> (and isn't junk bond with money put at risk)
>>

>> --
>> Regards,
>> Martin Brown
>
> You will easily get 4% on the high street.

2 years ago you could

but not any more

tim

[tim.....]

"Martin Brown" <|||newspam|||@nezumi.demon.co.uk> wrote in message

news:Mv_4t.142187$Nl5....@newsfe07.iad...

> On 28/03/2013 16:42, R. Mark Clayton wrote:
>> "Martin Brown" <|||newspam|||@nezumi.demon.co.uk> wrote in message
>> news:zZV4t.268998$PC7.2...@newsfe03.iad...
>>> On 28/03/2013 11:24, AlanG wrote:
>>>> On Thu, 28 Mar 2013 10:33:21 -0000, "Norman Wells" <h...@unseen.ac.am>
>>>> wrote:
>>>>>>>
>>>>>> Anyone old enough to just want their savings protected against
>>>>>> inflation. There are still banks offering accounts that have interest
>>>>>> rates a couple of precent above inflation rates for those with large
>>>>>> amounts to invest
>>>>>
>>>>> Oh? Do tell us which.
>>>>
>>>> Do your own research
>>>
>>> You made the absurd claim it is up to you to support it with evidence.
>>>
>>> Feb RPI 3.2% CPI 2.8%
>>>
>>> Best interest bearing UK bank account I know of is 3% you might get a
>>> bit
>>> more by tying your money up for longer but not another 2%. Investec
>>> helpfully list the highest bearing UK savings account by month on their
>>> website as below:
>>>
>>> http://www.investec.co.uk/products-and-services/banking-services/personal-savings-accounts/investec-high-5-account/2013.html
>>>
>>> Your turn to demonstrate a UK bank account bearing 5% or above.
>>> (and isn't junk bond with money put at risk)
>>

>> You will easily get 4% on the high street.
>

> Please tell me more. Most banks I see round here are offering 1.6% or less
> on deposits and some are doing a miserly 0.1% on savings.
>
> Or do I need to deposit at least �10M+ to get that 4% rate?

Not that I have 10M to invest, but IME, once above de minimis amounts
deposit rates do not go up significantly the more that you have to invest.
They only go up due to the length of time you want to invest, or amount of
notice you are prepared to give.

Though with 10M you might have enough money to pay someone to make risk-free
arbitrage trades for better returns.

tim

[tim.....]

"AlanG" <inv...@invalid.co.uk> wrote in message
news:ib49l8dgt2dl5prlb...@4ax.com...

> On Thu, 28 Mar 2013 11:39:05 +0000, Martin Brown
> <|||newspam|||@nezumi.demon.co.uk> wrote:
>
>>On 28/03/2013 11:24, AlanG wrote:
>>> On Thu, 28 Mar 2013 10:33:21 -0000, "Norman Wells" <h...@unseen.ac.am>
>>> wrote:
>>>
>>>> AlanG wrote:

>>>>> On Thu, 28 Mar 2013 00:11:20 +0000, Nightjar
>>>>> <c...@insert.my.surname.here.me.uk> wrote:
>>>>>

>>>>>> On 27/03/2013 23:02, Turk182 wrote:
>>>>>>> Once you find out that they are thinking of raiding our bank
>>>>>>> accounts too, it will be too late to get your cash!
>>>>>>>
>>>>>>> Evidence is that some people with large bank balances are already
>>>>>>> taking steps to prepare for that possibility!
>>>>>>>
>>>>>>> Are you?
>>>>>>
>>>>>> Why would anybody have a large amount of money in a bank, with the
>>>>>> interest rates they pay?
>>>>>>

>>>>> Anyone old enough to just want their savings protected against
>>>>> inflation. There are still banks offering accounts that have interest
>>>>> rates a couple of precent above inflation rates for those with large
>>>>> amounts to invest
>>>>
>>>> Oh? Do tell us which.
>>>
>>> Do your own research
>>
>>You made the absurd claim it is up to you to support it with evidence.
>>
>>Feb RPI 3.2% CPI 2.8%
>>
>>Best interest bearing UK bank account I know of is 3% you might get a
>>bit more by tying your money up for longer but not another 2%. Investec
>>helpfully list the highest bearing UK savings account by month on their
>>website as below:
>>
>>http://www.investec.co.uk/products-and-services/banking-services/personal-savings-accounts/investec-high-5-account/2013.html
>>
>>Your turn to demonstrate a UK bank account bearing 5% or above.
>>(and isn't junk bond with money put at risk)
>

> 2 seconds
> http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-bumps-credit-rate-5-FlexDirect.html

On 2 and a half grand!.

So that's 40 quid better off I shall be sticking such a piddly amount in one
specific account. That's hardly worth the time spent opening the account.
I could earn then same amount doing an hour's overtime at work!

tim

[tim.....]

"Nightjar" <c...@insert.my.surname.here.me.uk> wrote in message

news:qu2dnfhNFr_O1MnM...@giganews.com...

> On 28/03/2013 08:49, AlanG wrote:
>> On Thu, 28 Mar 2013 00:11:20 +0000, Nightjar
>> <c...@insert.my.surname.here.me.uk> wrote:
>>
>>> On 27/03/2013 23:02, Turk182 wrote:
>>>> Once you find out that they are thinking of raiding our bank accounts
>>>> too, it will be too late to get your cash!
>>>>
>>>> Evidence is that some people with large bank balances are already
>>>> taking steps to prepare for that possibility!
>>>>
>>>> Are you?
>>>
>>> Why would anybody have a large amount of money in a bank, with the
>>> interest rates they pay?
>>>
>> Anyone old enough to just want their savings protected against
>> inflation. There are still banks offering accounts that have interest
>> rates a couple of precent above inflation rates for those with large
>> amounts to invest
>>
>

> The question still stands as that is far from the best option. To take a
> simple example, buy an industrial unit to rent out and you would expect to
> get at least 8.5% return on capital.

This would be the commercial property sector that's in so much **** ATM that
many professional investors won't touch it with a barge pole

And you're recommending it to private investors.

Hm

tim

[Nightjar]

Actually, I said industrial unit, not commercial unit, and I have no
problems with the returns I get from them. They are doing better than my
BRIC investments and much better than commodities.

> And you're recommending it to private investors.

I'm not recommending anything to anyone. I am simply pointing out the
returns that can be expected by putting money somewhere other than a
bank. If anybody has that sort of money to invest, they really ought to
get themselves an independent financial advisor, who can assess what
risk level the client is willing to accept and advise accordingly. IME
they are well worth the fees.

Colin Bignell

[Nightjar]

Individual areas can go down, but, IME if you have a decent spread of
investments, the overall effect will be a better gain than you get
though leaving money in the bank. Of course, if you don't understand
investment or don't have a good advisor and are totally risk averse,
then the minuscule amounts the banks pay may suit you better.

Colin Bignell

[Alex Heney]

On Sat, 30 Mar 2013 08:05:23 +0000, AlanG <inv...@invalid.co.uk>

If you have no real savings, but a decent income, perhaps.

Though even then it is questionable.

--
Alex Heney, Global Villager

A fool and his money are my two favourite people.

[Alex Heney]

On Sat, 30 Mar 2013 08:05:59 +0000, AlanG <inv...@invalid.co.uk>

Only to a moron, or somebody with *very* unusual circumstances.

--
Alex Heney, Global Villager

A fool and his money are my two favourite people.

[Alex Heney]

On Sat, 30 Mar 2013 08:07:21 +0000, AlanG <inv...@invalid.co.uk>

So what?

Your initial point was

"There are still banks offering accounts that have interest rates a
couple of precent above inflation rates for those with large amounts
to invest"

It does NOT meet that point.

If you can find a bank offering 4.8% or more (i.e. a couple of percent
over current CPI inflation rate of 2.8%) for those with "large amounts
to invest", please do let us know.

--
Alex Heney, Global Villager

A little inaccuracy sometimes saves tons of explanation.

[Judith]

On Fri, 29 Mar 2013 11:57:32 -0700 (PDT), Turk182 <digital...@aol.com>
wrote:

<snip>

>The great British public are already voting with their cash.
>
>I have spoken to pensioners who are now accumulating cash.

How much interest are they getting?

[Theodore Pike]

On Mar 30, 9:07 am, AlanG <inva...@invalid.co.uk> wrote:
> On Sat, 30 Mar 2013 01:14:59 +0000, Alex Heney <m...@privacy.net>
> wrote:
>
>
>
>
>

> >On Fri, 29 Mar 2013 11:33:27 +0000, AlanG <inva...@invalid.co.uk>

> >wrote:
>
> >>On Thu, 28 Mar 2013 21:29:39 +0000, Alex Heney <m...@privacy.net>
> >>wrote:
>

> >>>On Thu, 28 Mar 2013 18:52:51 +0000, AlanG <inva...@invalid.co.uk>

> >>>>>http://www.investec.co.uk/products-and-services/banking-services/pers...

>
> >>>>>Your turn to demonstrate a UK bank account bearing 5% or above.
> >>>>>(and isn't junk bond with money put at risk)
>
> >>>>2 seconds

> >>>>http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-...

>
> >>>That is a current account, not a savings account.
>
> >>>You have to have at least £1000 per month paid in from an external
> >>>source (i.e. not from another Nationwide account), and it is only a
> >>>special 12 month introductory offer , after which the rate drops to
> >>>1%. and it is only payable on the first £2500 - the rate is zero on
> >>>balances over £2500.
>
> >>It is an account that pays above inflation
>
> >It is certainly not an account which comes anywhere remotely close to
> >meeting the conditions *you* set out in your first post in this
> >thread:
>
> It pays above inflation

Morons like you are never adult enough to admit when you're wrong are
you?

[AlanG]

On Sun, 31 Mar 2013 21:00:28 +0100, Alex Heney <m...@privacy.net>

Only a stupid sheep lover would keep this up

[AlanG]

On Mon, 1 Apr 2013 00:20:47 -0700 (PDT), Theodore Pike
<theodo...@gmail.com> wrote:


>> >>>>>>>> Anyone old enough to just want their savings protected against
>> >>>>>>>> inflation. There are still banks offering accounts that have interest
>> >>>>>>>> rates a couple of precent above inflation rates for those with large
>> >>>>>>>> amounts to invest
>>
>> >>>>>>> Oh? �Do tell us which.
>>
>> >>>>>> Do your own research
>>
>> >>>>>You made the absurd claim it is up to you to support it with evidence.
>>
>> >>>>>Feb RPI 3.2% CPI 2.8%
>>
>> >>>>>Best interest bearing UK bank account I know of is 3% you might get a
>> >>>>>bit more by tying your money up for longer but not another 2%. Investec
>> >>>>>helpfully list the highest bearing UK savings account by month on their
>> >>>>>website as below:
>>
>> >>>>>http://www.investec.co.uk/products-and-services/banking-services/pers...
>>
>> >>>>>Your turn to demonstrate a UK bank account bearing 5% or above.
>> >>>>>(and isn't junk bond with money put at risk)
>>
>> >>>>2 seconds
>> >>>>http://www.thisismoney.co.uk/money/saving/article-2288982/Nationwide-...
>>

>>

>> It pays above inflation
>
>Morons like you are never adult enough to admit when you're wrong are
>you?

Those who fornicate with ducks cannot read

[aaa]

Nightjar wrote:

> On 28/03/2013 23:05, Turk182 wrote:
> >On 28 Mar, 21:53, Curlytop <pvstownsend.zyx....@ntlworld.com> wrote:
> > > Turk182 set the following eddies spiralling through the space-time
> > > continuum:
> > >

> > > > Once you find out that they are thinking of raiding our bank accounts
> > > > too, it will be too late to get your cash!
> > >
> > > > Evidence is that some people with large bank balances are already
> > > > taking steps to prepare for that possibility!
> > >
> > > > Are you?
> > >

> > > > Turk182
> > >
> > > If only I had the need to take such precautions. :(
> > > --
> > > ξ: ) Proud to be curly
> > >
> > > Interchange the alphabetic letter groups to reply
> >
> > I understand that th British Governments £80,000 protection for people
> > with money in British banks has now gone. Is that correct?
>
> Still trying to spread needless panic?
>

> It is not £80,000 and it is not all British banks, but the first £85,000 of money per person per British regulated institution is protected by the Financial Services Compensation Scheme.
>
> http://www.moneysavingexpert.com/savings/safe-savings
>
> Colin Bignell

Except that the EU president was being interviewed on radio 4 a few days ago, explaining that the deposit amount of upto 100,000 Euro is guaranteed, but that deposits under this amount can be "taxed" if the bank fails.
Therefore we do have a deposit guarantee, but you can still loose 100% of your deposit, due to a special "tax".
The EU at their finest!

[Nightjar]

The guarantee only covers you for loss of savings if the financial
institution fails. Taxation is an entirely different matter. However, as
you can do better elsewhere, having that much cash in a bank account
doesn't make a lot of sense anyway.

Colin Bignell

[Alex Heney]

On Mon, 01 Apr 2013 08:21:11 +0100, AlanG <inv...@invalid.co.uk>
wrote:

Why can't you just accept you made a mistake?

--
Alex Heney, Global Villager

It's deja vu all over again.

[aaa]

Except that the "taxation" (as per the EU president) is only applied for savers with that bank when it fails, so the "guarantee" are weasel words.

> However, as you can do better elsewhere, having that much cash in a bank account doesn't make a lot of sense anyway.

I agree that avoiding all banks is logical, but this does require some skill, which say an 80 year old widow with capital might not have.

[Nightjar]

On 02/04/2013 02:56, aaa wrote:
> Nightjar wrote:
...

>> However, as you can do better elsewhere, having that much cash in a bank account doesn't make a lot of sense anyway.
>
> I agree that avoiding all banks is logical, but this does require some skill, which say an 80 year old widow with capital might not have.
>

If you have enough to make it worth while putting elsewhere, paying a
financial advisor to do it for you is IMO money well spent.

Colin Bignell