Banking Question...

[Chilli]

In the UK, due to the financial crisis, the gov has guaranteed people's bank balances (up to £50k) against the bank going bust. Is there a similar deal in place there? Just wondering if it would be 100% safe to transfer some money over.

Cheers.

[Esprit]

Similar situation here, although given our govt's basically bankrupt as it is, if a bank folded I don't think it'd make a blind bit of difference.

Kiwi banks are all aussie owned though and Aussie seems to be doing fairly well in the recession so very little risk.

[Chilli]

Esprit said:

Similar situation here, although given our govt's basically bankrupt as it is

Similar to here then.

Cheers.

[D1GGY]

You are also able to open a foreign currency account at the same time as you open a "current" account. You may like this option until the exchange rate is more favourable...... you still retain control of your funds when in NZ and not doing the fax tfunds transfer thing

hth

[Chilli]

D1GGY said:

You are also able to open a foreign currency account at the same time as you open a "current" account. You may like this option until the exchange rate is more favourable...... you still retain control of your funds when in NZ and not doing the fax tfunds transfer thing

hth

Good call. Cheers.