move funds from anglo to nationwide uk

J

JJ47

Registered User
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Hi folks,

looking for advice. i have 50k with anglo premium demand a/c @3.1%. I am thinking of moving to nationwide uk @3.15%. i am not overly concerned with the rates however deposit safety is my primary concern. question really is will my money be considered to be much safer with nationwide uk?
thanks
 
Nationwide is the UK's biggest BS and didn't need any government support. Best of all, Nationwide UK is covered by the British compensation scheme.

nationwide.co.uk/mediacentre/PressRelease_this.asp?ID=1368

"Nationwide UK (Ireland) is a branch of Nationwide Building Society. Nationwide Building Society is authorised and regulated by the Financial Services Authority in the UK. Nationwide UK (Ireland) is a member of the Financial Services Compensation Scheme (FSCS) in the United Kingdom, which was established under the Financial Services and Markets Act 2000 to pay compensation if a firm is unable, or likely to be unable, to pay claims against it. Payments under the FSCS are limited to a maximum of £50,000 or euro equivalent per individual (or £100,000 if a joint account), that is 100% of the first £50,000 of an investor’s total shares and/or deposits. Most investors are covered, including individuals and small firms. Although most shares and deposits in UK building societies are denominated in sterling, the euro and other European Economic Area currencies are covered. Individual customers are restricted to one maximum amount of £50,000 across an organisation. Further details are available at fscs.org.uk"
 
Expat64; Thanks for that, this is the answer I have been looking for the last week or so, a good safe bank to put my savings into, because I sure as hell dont want to see them go down a black hole within an Irish financial institution.
 
Agreed, Nationwide UK are a very safe option with the plus of a good return for your money.
 
I have 2 accounts with anglo - a fixed saver and a demand account.

I think I'll close the demand.

Must you call in to close it?
 
you just have to ring up, answer a few security questions and job done.
 
http://www.guardian.co.uk/business/2010/sep/12/worlds-safest-banks


interesting what the british think about their banks .

if you go down the comments (about 6 down )

" Bearing in mind how Nationwide fought Halifax for biggest mortgage lender it must have lots of very poor loans, couple that with its rescue of a number of societies who obviously also had very poor balance sheets means you are looking at a dodgy institution"
 
Be warned when I tried to move funds from Anglo to Nationwide UK, Anglo took the money out of my account and never transferred it to NUK. Seemingly, they are not able to!? It showed up back in Anglo several days later but basically I had to transfer it to AIB first and then to NUK. Anglo were never able to adequately explain why they cannot transfer (electronically) to Nationwide UK when other irish banks, or course, can.
 
Did you have your NUK a/c as your nominated 1st party a/c on your Anglo application form?
 
I closed off my demand account with Anglo - I kept the fixed one open.


I am happy enough to be covered by the gaurentee.
 
Anglo Fixed term reward account

Rather than start yet another anglo thread I said I'd add my query to this one. My fixed term reward account with Anglo is set to mature Feb 2011 and each time I log in to check up on it I am met with the greeting

Note: Any withdrawals made will result in the default rate of interest, outlined in your welcome letter, being applied to the full balance over the entire term.

The bank is backed by the government until the end of the year following the recent september extension. Should the country default & given that the account was started during the guarantee period does that mean my funds are secure or am I unwise to leave the account run its term? Any feedback will be welcomed.
 
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