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Old 27th April 2020, 22:08   #1 (permalink)
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Banking UK, post Covid-19 ?

Putting aside the rights and wrongs re the virus. I think most will accept that the economy is going to take a huge hit in the coming months, With billions being paid out from tax payers money, that at some stage will be clawed back.

So looking forward what are others thoughts on the possibility of a bail-in at some stage similar to what happened in Cyprus, although we have a supposed guarantee of 85k per bank licence would I be correct in assuming that a bail-in would fall outwith this so that any savings could be devalued at whatever level a government decides.

If this were to be correct what is the best option to act in advance, if there is a better option. Taking in to account we are being manipulated in to a cashless society.
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Old 27th April 2020, 22:25   #2 (permalink)
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Re: Banking UK, post Covid-19 ?

Draw it out and stick it under the bed. For what the bank gives you, you have nothing to loose .
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Old 27th April 2020, 22:26   #3 (permalink)
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Re: Banking UK, post Covid-19 ?

Quote:
Draw it out and stick it under the bed. For what the bank gives you, you have nothing to loose .
That was my 1st thought but with cashless on the way that could also be an issue in months to come.
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Old 28th April 2020, 07:41   #4 (permalink)
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Re: Banking UK, post Covid-19 ?

Watch out for burglars too !!
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Old 28th April 2020, 08:41   #5 (permalink)
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Re: Banking UK, post Covid-19 ?

A lot of people have bought gold.Unfortunately I invested in beer!
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Old 28th April 2020, 14:53   #6 (permalink)
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Re: Banking UK, post Covid-19 ?

Buy dollars.
Put them in an offshore account with a foreign bank that has no link to your country of residence.
Make sure there is a properly regulated deposit protection in place.
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Old 28th April 2020, 16:25   #7 (permalink)
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Re: Banking UK, post Covid-19 ?

I believe certain members of our ruling party have done this!Pound crashes due to Brexit or whatever = quids in😀
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Old 28th April 2020, 17:10   #8 (permalink)
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Re: Banking UK, post Covid-19 ?

No idea and not bothered either.
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