Are UK banks vulnerable?

[patman post]

Erni has been a safe pair of hands for a long time, returning way more than the banks. I personally use and abuse the banks as much as I can.

NS&I is more than Erni — it has six interesting products on offer...

https://www.nsandi.com/products

[Unlucky4Sum]

Quite, even if ERNI is clearly rigged because I never win anything.

Even so, as you say, it is a bit of fun. Other than that, I reckon the last place to put your money is in a bank. You need a few bob to pay the butcher, baker and the like, but with inflation at 10% and interest rates at 7% less, my modest competence will be invested in bricks and mortar and the rest

Some of my money is in a bank account to spread risks

As for bricks and mortar here's a cautionary tale where people thought they were doing just that:  https://www.bbc.co.uk/news/uk-england-kent-65096545  

[Borchester]

ERNI has always been a good investment IMHO.  Not so much for the safe but less than spectacular return but it gives a little bit of fun as well (3 prizes for me today)

Quite, even if ERNI is clearly rigged because I never win anything.

Even so, as you say, it is a bit of fun. Other than that, I reckon the last place to put your money is in a bank. You need a few bob to pay the butcher, baker and the like, but with inflation at 10% and interest rates at 7% less, my modest competence will be invested in bricks and mortar and the rest

[Unlucky4Sum]

Erni has been a safe pair of hands for a long time, returning way more than the banks. I personally use and abuse the banks as much as I can.

ERNI has always been a good investment IMHO.  Not so much for the safe but less than spectacular return but it gives a little bit of fun as well (3 prizes for me today)

[johnofgwent]

I suppose it depends what you mean by 'safe'

There seems to be continuing fallout over the Silicon Valley / Credit Suisse fiasco but the UK arm was absorbed into HSBC recently and since i don't bank with them i'm fine jack !!

[Nick]

NS&I has emailed saying that many people are putting money they've got in the bank into NS&I products.

I don't think that's just a sales ploy, there does seem to be plenty of nervousness around, even though various people are making assuring noises that the UK banking systems is stable and fit.

Mrs and I have taken a look at our accounts and made doubly sure that between us, and with our current and savings and other accounts, we do not have anywhere near the £85K (guaranteed to be safe) in any bank or institution owned by the same parent. But that is not always easy all the time, for instance, when buying or selling property — or for some people who find themselves in financial difficulty.

A useful site is:
https://www.payplan.com/debt-info/collection-of-debts/creditors/linked-banks-and-creditors/

It's aimed at people who are looking for a 'safe' bank account which isn't linked to any of their creditors...

Erni has been a safe pair of hands for a long time, returning way more than the banks. I personally use and abuse the banks as much as I can. 

[Streetwalker]

Regardless of whether our banks are safe or not (I think they are) we have to protect whats ours so spreading what we have around is prudent .

[patman post]

NS&I has emailed saying that many people are putting money they've got in the bank into NS&I products.

I don't think that's just a sales ploy, there does seem to be plenty of nervousness around, even though various people are making assuring noises that the UK banking systems is stable and fit.

Mrs and I have taken a look at our accounts and made doubly sure that between us, and with our current and savings and other accounts, we do not have anywhere near the £85K (guaranteed to be safe) in any bank or institution owned by the same parent. But that is not always easy all the time, for instance, when buying or selling property — or for some people who find themselves in financial difficulty.

A useful site is:
https://www.payplan.com/debt-info/collection-of-debts/creditors/linked-banks-and-creditors/

It's aimed at people who are looking for a 'safe' bank account which isn't linked to any of their creditors...