Quizzes & Puzzles4 mins ago
Post Office Savings
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Would you save with the Post Office in there new online account ( if you have any money to save ! ) which is provided by Bank of Ireland UK and pays 3.01%, is it safe in these current times, I have £8000 which is left to me and this seems the best easy short term savings account I have found, I am 66 so don't want any long term bonds, etc.
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For more on marking an answer as the "Best Answer", please visit our FAQ.My wife and I have savings in the Post Office account (though not online; we go to the Post Office and deposit the money in person). A few months ago I asked my financial adviser if the money was safe with the Bank of Ireland, and he assured me that it was. There is, apparently, an upper limit, beyond which a guarantee cannot be given, but as our savings are not great, that doesn't really concern us.
The Financial Services Agency (FSA) provides a register of organisations whose customers are covered (to a maximum of £85k) by their compensation scheme. See the register here:
http://www.fsa.gov.uk...ter/firmMainSearch.do
Go to the bottom and type “Bank of Ireland” in the “Firm Name” box to see the results.
http://www.fsa.gov.uk...ter/firmMainSearch.do
Go to the bottom and type “Bank of Ireland” in the “Firm Name” box to see the results.