....such as Building Societies which are still member owned and properly regulated and Credit Unions which are a heck of a lot better than the likes of payday loan companies. I abandoned the banks some 20 years ago and have used alternatives ever since. Now if everyone else did the same I am sure we would end up far more financially secure.

I keep an absolute minimum in my bank current account. It pays no interest anyway so I'd be daft not to.

Great OP
Whilst Mutuals, building societies etc are certainly preferable to the big banks, they aren't without flaw.
Certainly a good step to take though at this time.
Ultimately though, we need to grow out of currency full stop.

So, and I ask this question on every thread that reminds me to.....If you had £40,000 in the bank, where would it be safer?

1. In the bank?

2. The bookies?

3. Under the mattress?

4. Buy shares in TPV?

5. Be George Best?

@jhado - personally storing cash to me seems crazy - if I had that kind of money (i dont) I would probably buy land or something that will not lose its value - not as a for profit venture but as a safe way to hold on to an asset. that or knowing me give it away

Well, I've just bought a Rife-machine. A big proper one, it's waiting for me at customs

Gonna open a healing centre, with all sorts of treatments, but mainly EFT and Matrix Re-imprinting.

Wish me luck

sending you love and luck for the venture

Anything that was properly regulated and not shareholder owned needed no bail outs. This is how banks should be run

en.wikipedia.org/wiki/Airdrie_Savings_Bank

"Airdrie Savings Bank is the only remaining independent Savings Bank in the UK. It operates on mutual principles, has no shareholders and is instead governed by a Board of Trustees, appointed to represent the interests of depositors and to ensure that the Bank is managed properly......Airdrie Savings Bank was formed as part of a movement to bring banking services to the wider community in 1835. A board of trustees from the local community act as board of governors. Similar banks were set up throughout the United Kingdom. Eventually most of these were brought under the umbrella of the Trustee Savings Bank, which was subsequently floated on the London Stock Exchange. Airdrie was the only Savings Bank not to join this scheme."

jhado wrote:
I would give it all to Sean Tellytubby and ask him to use it to help make the world a better place.

jhado wrote: Giz a job!
Can we do swapsies next time you're up please?

Be George Best and blow the rest.

peoples could give me their monies to watch , as it's just shitty fiat paper , there is no need to worry as it has virtually a value of nothing

This just shows how advertising can con people into doing daft things. Need short term small loans to tide you over?

Wonga interest rate 5853%.
www.wonga.com/

Glasgow Credit Union everyday loan interest rate 14.9%.
www.glasgowcu.com/loans/everyday-loan/

No one has heard of the Glasgow Credit Union (I did not about it, it just came up in a search I did for interest rates to compare with Wonga). Everyone has heard of Wonga due to its heavy advertising. But doing that simple search means paying 391 times LESS interest on a short term regular loan

Cool thread 8)

Barnfish wrote: Theoretically yes, if the loans both run for a year. It doesn't quite happen like that with the short term, high interest loans though. Dunno about Wonga but firms like Greenwoods always used to offer another loan when you'd made so many payments. Invariably adding the remainder of the old loan to the principal of the next. Which ofc causes compound interest. Which ofc hikes the actual apr of the original loan through the roof. What I'm getting at is that anyone who borrows from these 'people' is actually going to have to work pretty hard to have a clue what interest rate they are paying in real terms.

Credit Unions

Haven't had a bank account for 25 years and can't see that changing.

Bank of Dave.

Dave's ace.

Looks like I'm gonna need to get an account rather soon. I was thinking co-op but who's got the gen on the best of the bad lot?