My finances ain't broke, but I want to fix them!
I have a current account and credit card with bank #1. I have a deposit account with bank #2. I have three mortgages with bank #3 and another mortgage with bank #4.
Bank #3 is offering better rates of interest on its current account, credit card and deposit account.
If I migrate the current account, the credit card and deposit account from banks #1 and #2 into bank #3 (my largest creditor), what risk do I face from bank #3?
Will they get greedy? Will they intercede my gearing/borrowing decisions (necessarily with other banks) with their low-risk excess- cautionary stupidity? Will they sequestrate deposits at no notice for no logical reason? Is there a clear code of conduct that I should ask to inspect before commiting to the bank?
Or it is really a no-brainer: no matter how good the interest rates might, don't do it!!! In this fascist that of Britain, is it really the case that divorcing deposits from creditors remains the safest way to protect your deposits?