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johntaylor99 | 08:18 Wed 30th Jun 2010 | Personal Finance
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My wife has taken over the affairs of an aunt who is in a care home suffering from dementure.
We have invested over £90000 into 0NE BANK in the form of .Fixed rate bond,Instant access saver, An ISA and her current account. Is this wise or should the money be spread BETWEEN SEVERAL BANKS.
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Avatar Image sandyRoe
I don't believe the government would let any reputable bank fail. For what it's worth, I think it's safe enough.
08:26 Wed 30th Jun 2010
Avatar Image factor-fiction
If it's a UK bank then I agree with Sandy Roe. If it's an overseas bank such as the Icelandic one then you could lose your money.
If there is no penalty, though, why take the risk- transfer some out provided you can get an equally good rate elsewhere
18:33 Wed 30th Jun 2010
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