Would you save in a non UK-protected account?

4 October 2009

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Poll started 05 October 2009: Would you save in a non UK-protected account? Currently the Bank of Cyprus pays the highest 1yr fixed savings rate. Yet in the unlikely event it went bust, as with a few other EU banks (non-EU banks must have full UK protection), you’d need to claim your lost money back from the home Cypriot govt, not the UK’s. However you get cover for €100,000 (c £90,000), not the £50,000 of the UK scheme. If you had money to save, would you be happy to put it in a non UK-protected bank?

Poll started 05 October 2009:

Would you save in a non UK-protected account?

Currently the Bank of Cyprus pays the highest 1yr fixed savings rate. Yet in the unlikely event it went bust, as with a few other EU banks (non-EU banks must have full UK protection), you’d need to claim your lost money back from the home Cypriot govt, not the UK’s. However you get cover for €100,000 (c £90,000), not the £50,000 of the UK scheme.

If you had money to save, would you be happy to put it in a non UK-protected bank?

Results

A. Yes		1,667 votes (23 %)
B. Yes, but only from a larger country		889 votes (12 %)
C. No		4,608 votes (64 %)

                   7,164 votes received.

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