My Lucky Break

In the current economic climate everyone is worried about the security of their money is it safe – what will happen to my money if the bank fails ? is my money protected if another bank fails – well all amounts up to £50,000 in any one institution are protected. So it is important if you have funds over this amount to spread them around just to be safe.

There are lots of sites offering free bank ratings and other sites that are willing to give more in depth information and statistics for a price.

Its worrying time at the moment banks like the RBS group and Lloyds have had to go to the government for huge bailouts worth billions of pounds to ensure they don’t fail and with the economy built on a strong banking system the government had no choice but to assist. We are all very wary at the moment and what ever funds we have are desperate to keep safe and secure hence we are not spending our hard earned cash on the high street – this of course has a knock on effect to the whole of the UK economy. The banks need to regain faith in themselves somehow and start lending again hopefully that will get us all back spending. Hopefully the governments assistance will get the banks lending again and help to boost the economy. You can always check your banks strength rating online.

If you are looking for free bank ratings information you should get on line there are loads of sites that offer excellent advice and information on the banks and financial institutions operating in the UK. There is plenty of information out there which should answer any questions you have about the security a bank can offer.

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This entry was posted on Wednesday, April 1st, 2009 at 8:04 am and is filed under Break. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.