Guest nareyclan Posted October 7, 2008 Share Posted October 7, 2008 With the banker community in turmoil and the Australian exchange rate creeping up beyond $2.35. We are seriously concidering changing our savings over into Australian bank account and cashing in on the high rate of exchange prior to or move next year. We are however concerned about savings guarantees. The UK guarantee is for upto £50000 now. Is there a banking crisis in Australia? Are savings guaranteed there and if so does this apply to non Australians? Please help:err: Link to comment Share on other sites More sharing options...
THE DUNSCOMBE FAMILY Posted October 7, 2008 Share Posted October 7, 2008 hi there, dont know the answers but just bumping up your thread.We exchanged two weeks ago because we wanted to make sure our savings were safe, We were getting 7% interest rate but today its been cut to 6%, we leave in7weeks time and wanted to get our savings out of the uk Link to comment Share on other sites More sharing options...
Life on easy street Posted October 7, 2008 Share Posted October 7, 2008 The Australian banks are more regulated & better capitalised than U.S & European banks At least that is what the politions claim. But I would not put all my eggs in one basket if I were transferring my life savings. There is no garantee for savings at all !:policeman: http://www.pomsinoz.com/forum/money-finance/31505-our-money-safe-35k-safety-net-uk.html Link to comment Share on other sites More sharing options...
Guest johno1 Posted October 8, 2008 Share Posted October 8, 2008 We were, last week, told by the Commonwealth Bank (who we have opened an account with), that at present, the Australian Government does not gaurantee any savings in the event of a bank going 'bust.' We had opened a Halifax high interest savings account to put our house money In and obviously, we were a little concerned about this!! I think for now, we ,may leave the bulk of it in several uk accounts..at least it is protected here, and just transfer living costs from our savings :spinny: nothing worth doing is ever easy... Link to comment Share on other sites More sharing options...
Guest nareyclan Posted October 8, 2008 Share Posted October 8, 2008 We were, last week, told by the Commonwealth Bank (who we have opened an account with), that at present, the Australian Government does not gaurantee any savings in the event of a bank going 'bust.'We had opened a Halifax high interest savings account to put our house money In and obviously, we were a little concerned about this!! I think for now, we ,may leave the bulk of it in several uk accounts..at least it is protected here, and just transfer living costs from our savings :spinny: nothing worth doing is ever easy... Johno thanks for that information. I too think tha t the short term benefit to be gained by transferring our life savings into doolars needs to be considered seriously and the guarantees offered here are assurance enough for us to bide our time until the visa is issued at least. Link to comment Share on other sites More sharing options...
Guest arentol Posted October 12, 2008 Share Posted October 12, 2008 Good news: The Australian government is now guaranteeing all deposits for the next 3 years: Australia to guarantee bank deposits - CNN.com Regards, Aren - Link to comment Share on other sites More sharing options...
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