The risk of banking and bankers

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?
Reply to
martin.thornhill
Keep your separate Banks, at least two anyway. That way you are still in control.
| 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? |
Reply to
Stickems.

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