marclouis

I would split it between multiple savings accounts, different accounts have different guaranteed amounts which you cant loose. i would also split between different countries. say ING UK £100K and HSBC CA $100k.

I wish i had that worry

IckleHelen

You should definitely split it between institutions. The UK recently increased the guaranteed per institution from £35k to £50k so don't put anymore than £50k in any one bank, building society or other savings organization in the UK. Also if you invest in other countries check out their guarantee limits. When I was over in Canada last month the Lady we spoke to at TD said that Canada had one of the safest banking systems in the world (not sure how bias she was though) - having said that they are pretty mean with their interest rates.

Eastbound

[QUOTE=IckleHelen;6987051]You should definitely split it between institutions. The UK recently increased the guaranteed per institution from £35k to £50k so don't put anymore than £50k in any one bank, building society or other savings organization in the UK. Also if you invest in other countries check out their guarantee limits.
Hi
Great advice always best to disversify assetts into a number of institutions where possible so minimising as much risk as possible, especially in these troubling and uncertain financial times

TheBear

Buying a gold bar wouldn't hurt either...seriously.

marclouis

[QUOTE=Eastbound;6987151] ING has a higher intrest rate and more guaranteed than all the others right now.

yep, Gold wouldnt hurt.

geedee

You're right... but where? Kitco has run out of affordable gold coins ( i.e. 1oz).

And silver has all but gone..... what's goin' on????

scottymallo

hi you can buy gold online and store it in a safety deposit bank you get a log on access and can check your gold value ect! I read recently a coulpe from England bought gold with the profits from the sale of there house a few years back and have made a substantial profit! I expect Gold values will sore back close to the $1000 mark as soon as oil prices begin to rise again and dollar weakens which could make for decent profits as gold is currently $738

The4BellsLondon

Thanks all for the advice - my worry is that it will allgot t*ts up lietrally the ay the money gets wired to us, not giving me a chance to split it!! suppose could set the accounts up now but have no SIM no yet so may be diff to open a Canadian one! and a;so sale could still fall thru!!

TheBear

Some UK banks will let you open an account in Canada if they have branches. HSBC sent me a load of forms for doing just that recently...just need to fill the things out. You can get a checking, savings and credit card account and the cost is minimal.

The price or 'real' gold and spot gold decoupled about 2 months ago, there should be a readjustment soon, much sooner than Oil readjusts.

The4BellsLondon

OH skyped to day to say he has a SIN (not SIM as i posted before) so he can open an account now -so thats good - yup looked at HSBC - may start that off here too!

Posidrive

Anyone known why the pound is recovering a bit today?

thebakers4

Have no idea but yes its gone up approx 3 cents since yesterday by my reckoning - lets just hope it continues to rise - then we can all change money at a good price and get a few more $ to play with the otherside.

scottymallo

$1.87 at the moment that 8c per £ higher than the low point hopefully will contine to rise for the rest of the month!!! would be nice to see 1.90 this week then another major barrier broken!

scottymallo

UKForex Daily Commentary - 19/11/2008

:: United States Dollar: GBP/USD has traded a fairly narrow range over the past 24 hours and dare I say it, looks to be consolidating around the 1.5000 figure for the moment. It traded to a high of 1.5050 on Tuesday and opens this morning at 1.4990. UK CPI Inflation data was released yesterday and came in weaker than expected at 4.5%. Some commentators and media outlets are now warning of future deflation threats. The data release had minimal impact on the Pound though. Bank of England Minutes are due today and investors will listen carefully for any signs of further near term base rate cuts. US CPI Inflation data is then due come the afternoon and the day finishes with FOMC Minutes, so all in all a big day data/economic reports wise.

- We expect a range today in the GBP/USD rate of 1.4900 to 1.5140

CD usually follows US so if were strengthening against US same against CD

TheBear

The pound is doing well against everything at the mo. The Canadian dollar is a commodity currency, and they have done real bad recently. Let's hope the pound claws back it's losses and levels at $2!