What to do with 130 grand

Halifax Web Saver pays 4.05% on 1+ and on-line withdrawals can be made conveniently into your Halifax current account.

ING Pay 4.30% but not heard very good reviews about them.

They work just fine now, after some teething troubles.

Hint for OP - for maximum security, put no more than 35k in any one institution (70k if it's a joint a/c).

how do you mean?

ie if i put all my money in a halifax websaver and either I get defrauded or halifax go bust surely i wouldnt lose anything would I?

Bob

If you get defrauded you lose everything unless it's the bank's fault, in which case you lose nothing.

If tha bank goes bust, it will be bailed out by the government, and you will get back at least 100% of the first £2k and (?)90% of the next £33k. As for the rest, you become an ordinary creditor, which means you could lose all of it.

ouch

Bitstring , from the wonderful person butane bob said

The first 35k per depositor is guaranteed (100% of the first 2k, 90% of the next 33k) After that you are on your own (well, in line with the rest of the creditors).

c.f. BCCI (remember them) . .as several large councils found out to their cost. Of course, when you have mult-mega-$ to deposit, the deposit guarantee scheme is not much help (but you are supposed to have enough resources to keep your own beady eye on things).

Article in today's Financial Mail section of Mail on Sunday about BCCI makes interesting reading