[ 3 / biz / cgl / ck / diy / fa / ic / jp / lit / sci / vr / vt ] [ index / top / reports ] [ become a patron ] [ status ]
2023-11: Warosu is now out of extended maintenance.

/biz/ - Business & Finance

View post   
File: 70 KB, 1200x675, MonkaSSS.jpg [View same] [iqdb] [saucenao] [google]
54069039 No.54069039 [Reply] [Original]

Fellow bongs - should we be worrying about bank runs tomorrow in the UK, or will these only affect Americans? Wondering whether to get up early tomorrow to drive to Natwest to withdraw all my money.

>> No.54069107

>>54069039
lmao tard, you have a heads up because you are informed. 99% of UK citizens dont even know what a bank is. Get your money out before the BBC is telling everyone its too late.

>> No.54069129

I am an Englishman with 200k sat in a NatWest bank account from inheritance (RIP mum)

What should I do? I’m starting to worry as the insurance is up to £85k only.

I’ll fucking kill myself if I lose it over nothing

>> No.54069148

>>54069039
Already got mine out and under the bed

>> No.54069149

>>54069039
I'm camping outside my NatWest now and the Barclays across the road has tents too.

Good luck op

>> No.54069208

>>54069039
I trust my brokerage more than my fucking bank

>> No.54069234

>>54069129
>I’m starting to worry as the insurance is up to £85k only.
So divide it into accounts across multiple banks in amounts less than £85k, moron

>> No.54069281

>>54069149
You’re joking right?

>> No.54069302
File: 126 KB, 340x358, 43244243.png [View same] [iqdb] [saucenao] [google]
54069302

>>54069129
>Open the internet
>Type in bank accounts
>Read reviews and check the benefits of the banks you like
>Click ''Apply Now''
>You will need to open a minimum of 2 accounts
>Lets say you open 2 accounts
>get a calculator
>type in 200
>then hit the divide button
>then hot 3
>you will see the number, 66.6666666667
>take 66.6666666667k out of the account with 200k in and put it in the first new account
>take 66.6666666667 out of the account with 200k in and put it in the 2nd new account
>now your money is safe and insured

>> No.54069309

>>54069234
I don’t have any other accounts, I only just got the lump of cash from selling her house last month

Anyone know if they can stop me withdrawing that much in cash if I show up tomorrow?

>> No.54069335

walking into barclays first thing in the morning

>> No.54069338

>>54069129
I also inherited 200k, and when I opened an account with Natwest they were extremely suspicious why I wanted a 2nd account, and kept trying to get me to transfer my old account from Barclays.

I told them that I didn't want more than 85k cash in a single account, so wanted to open another. They basically said the 85k is basically a gimmick and 'it'll never come to that' and that it was 'unusual behaviour' to want 2 separate accounts with different banks

>> No.54069341

>>54069302
Would I be able to open new bank accounts before the day is over through?

>> No.54069368

>>54069039
Definitely withdraw it all and buy gold.

>> No.54069374

>>54069309
They don't carry that much cash in one branch.

>> No.54069384
File: 13 KB, 443x474, 1668136946555235.png [View same] [iqdb] [saucenao] [google]
54069384

>>54069341
You think the whole entire UK banking system will collapse at midnight?

>> No.54069393

>>54069338
Do you know if transferring 85k to a different account with NatWest that I’ve just remembered I have means I’m covered on both accounts up to 85k?

>> No.54069403

If you withdraw more than 2k cash it gets noted down on your account as potentially suspicious, if you withdraw over 10k it'll get reported

>> No.54069413

>>54069384
Mate I know absolutely nothing about finance, I just got told to look at /biz/ on /sp/

>> No.54069415

>>54069129
>What should I do? I’m starting to worry as the insurance is up to £85k only.
It's not just that. The FSCS can't cover everyone in the event of catastrophic failure of the banking system. Even if you have less than 85k you should make sure you have cash.

>> No.54069442

>>54069393
No, it's 85k per institution, not per account.

Serious advice is set up a 2nd account, split the money, withdraw 2k cash, and buy some gold/silver bullion. Leaving 85k cash in each account

>> No.54069447

>>54069384
not likely, but it is possible

>> No.54069515

>>54069384
Yes

>> No.54069531

>>54069413
Split the money up into 60k's and stick it in various savings accounts asap. Problem solved.

>> No.54069540

If you have 200k cash, I'd recommend buying a few ounces of gold. Maybe 3oz. It'll cost just shy of 5k, which is a reasonable 2.5% of your portfolio, but will be at least something as hard money in the event of a collapse

>> No.54069544

Are investment companies like Nutmeg also insured up to £85k?

>> No.54069545

>>54069129
bullionbypost

>> No.54069568

>>54069039
man bongs are retarded. watches the financial system collapse. a-a-anons should I be worried? should i do the fucking obvious? no bong, just starve instead.

>> No.54069582

>>54069545
Chards is better, recommended by /pmg/ and I can vouch for them personally

>> No.54069608

>>54069384
...yh

>> No.54069610

>>54069582
chards is flat out of gold. See /pmg/

>> No.54069637

>>54069129
50k in premium bonds
20k in an ISA
remainder just put in a savings account from a different bank

>> No.54069648

>>54069039
So what are your plans for tomorrow anon?

https://strawpoll.com/polls/kogjkJvwqZ6

>> No.54069657

>>54069544
Better off doing a government ISA yourself, why let the jews take fees. If I didn't care about fees and felt risky, i'd put some money in a vanguard index fund rather than nutmeg.

>> No.54069661

>>54069582
I bought some gold through Sharps Pixley with crypto. I was testing the water and was going to buy a whole lot more, then crypto crashed and I couldnt bring myself self to do it.

>> No.54069664

Right lads so as a plan for tomorrow, does this make sense and should it work out fine

>go NatWest at opening, withdraw a few grand
>go to another bank, open account
>third bank, open account
>transfer 66k into each new account

That should leave me in a better position for now, right? I’ll think about investments in gold or whatever later

>> No.54069668

>>54069413
you are being meme'd by /pol/ doomers. Your IQ must be about 90 if you think anything is going to happen tomorrow, much less to Brit banks lmao
What you are witnessing is mass hysteria /pol/ retards who think that they'll bring down the global economic system by inciting a bank run.

>> No.54069681

>>54069610
So it is, last time was mid 2021 I think

>> No.54069709

>>54069668
At the end of the day me having 200k in a single account is retarded anyway so I still should sort it out. Regarding the doom, idk, the way the world and my personal life has gone the last few years this would be exactly the sort of thing to happen.

>> No.54069726

>>54069668
Have you even looked at Drudge? wtf are you talking about?

>> No.54069780

>>54069338
wtf? It’s weird to have two accounts with two banks? bongs you’re more cucked than Germans

>> No.54069787

>>54069039
So long as you've not got money in SVB (which you probably don't) it should be nothing to worry about in the UK.

>> No.54069807

>>54069664
Yes.

>> No.54069809

>>54069309
I’m not British, but from what I understand about doing that here, you need to call ahead so they can prepare for the large withdrawal. If you just show up, they’ll find a creative way to make you fuck off, like taking you outside for a walk-and-talk stroll, and then declare the branch closed.

>> No.54069812

>>54069709
>>54069726
Just remember this moment when this has all blown over and you're staring at your faces in the mirror. Remember how gullible you were. Remember buying into hysteria. Remember that you are basically brainless cattle, easily manipulated and terribly frightened and scared.

>> No.54069847

>>54069809
So should I call them now? It’s 10pm here

>> No.54069921

>>54069812
stfu you can see the news articles, it could likely create big economic troubles. "nothing ever happens" to you, because you never leave the house.

>> No.54069929

>>54069847
I don’t know if you need to contact the specific branch while they’re open, or really how anything works in your system. You need to figure that part out yourself.

>> No.54069977

>>54069921
Get a grip, you woman lmao

>> No.54069981

>>54069129
BTC.
Ledger.
You're welcome.

>> No.54070020

>>54069977
>if you take out your money you’re a woman
man shills are so obvious

>> No.54070081

>>54070020
No, I'm referring to the mass hysteria

>> No.54070233

>>54069309
You'll be able to get a few thousand at most

>> No.54070573

Does anyone know if the same limitations on withdrawing cash out apply to transfers between bank accounts of 66k ish?

>> No.54071345

I suggest all UK anons stick their savings in premium bonds for next month's draw. It's honestly the safest place right now since you don't lose any money and can withdraw at any time

>> No.54071439

>>54071345
>premium bonds
lmao

>> No.54071676

>>54069780
Only applies to current accounts IME, you can have as many savings accounts as you want.

>> No.54071736

>>54071676
what applies? I have 4 bank accounts. £85k protection on each. Actually one is joint so £170k on that one.

>> No.54071733

>>54069544
Usually. You can google "company fscs", FSCS is the government agency that guarantees the money. Sometimes only cash is guaranteed though.

>> No.54071836

>>54069129
Large banks have to ringfence deposits for retail customers in the UK, unlike America

>> No.54071847

>>54069129
RIP yer mum lad.
Buy yourself some gold bullion to retain wealth and invest into Iso20022. If you are worried about impending bank runs then buying property is too drawn out.

I don't own much crypto or PM but I do try to have as little actual money in my bank as necessary due to my rampant antisemitism and disdain for fiat

>> No.54071864

>>54069709
Why have you got it all in cash anyway? Even if you were getting 4% interest you would've lost 6% of 200k = £12k in value over the last year. Withdraw whatever cash you think you need to be able to eat for a few weeks (nobody would expect you to pay rent, bills, etc. in cash), open an account at another bank (can be done online) to split it but also buy some stocks, bonds and crypto so you can make up for the losses due to inflation (especially if the printer turns back on).