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| Thread ID: 93919 | 2008-10-06 19:22:00 | NZ Banks - Are Term Deposits Safe? | learning (5137) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 710134 | 2008-10-06 19:22:00 | I just want to know if the term deposists in NZ banks are safe in the event the Bank goes belly up I know in USA FDIC gurantess Term deposists up to $100 000 For e.g if National Bank in NZ goes bankrupt, will my $$ be safe in there coz i have a substantial amount invested with them via term deposits I know such a thing happening in NZ is very unlikely but i just would like to know for my peace of mind. |
learning (5137) | ||
| 710135 | 2008-10-06 20:46:00 | It would be somewhat reassuring if the government would guarantee our bank savings. Maybe you should shift your deposits to Kiwibank, but peace of mind is in shorter supply these days, when it comes to money. |
rumpty (2863) | ||
| 710136 | 2008-10-06 21:02:00 | If you are that worried put your money under your mattress. | wmoore (6009) | ||
| 710137 | 2008-10-06 21:04:00 | If you are that worried put your money under your mattress. I'd say the banks in NZ are slightly more secure than keeping your money under the mattress. That could easily change though. |
wratterus (105) | ||
| 710138 | 2008-10-06 21:23:00 | You just have to understand the system........... www.brasschecktv.com |
Cicero (40) | ||
| 710139 | 2008-10-06 21:48:00 | You just have to understand the system........... www.brasschecktv.com What a laugh! And these people are the "masters of the universe"? Not for much longer - we've seen the light. |
rumpty (2863) | ||
| 710140 | 2008-10-06 22:15:00 | To a given degree of safe. Everything you do has risk involved, with money that stands double. |
Thebananamonkey (7741) | ||
| 710141 | 2008-10-06 22:18:00 | Personally, I have term deposits at multiple banks for this very reason. Diversification of your assets is the key to reducing the risk you are exposed to. | maccrazy (6741) | ||
| 710142 | 2008-10-06 23:14:00 | Where diversification does not mean spread it among several finance companies. Normally it would be best to spread it among several asset classes, but given the current economic climate, 100% cash is quite safe. Raboplus is the highest rated bank in NZ. If i recall correctly, it has a better credit rating the the government. |
utopian201 (6245) | ||
| 710143 | 2008-10-07 03:14:00 | If you are that worried put your money under your mattress . Some are literally doing it . . . . In recent news sales of home safes has sky rocketed in US Although NZ Govt would step in to prevent a failure of such a major bank should NBNZ were to sink, beaware your funds are not insured . And seeing that NZ Govt will be running billions in defecit for next several years, should a major bank fail, it would be catastrophic . We never think about these things simply because we dont expect Banks to bunkrupt but in these extra ordinary times anythings possible Just check out the news on Iceland - the whole country is facing financial meltdown with real possibility of bankruptcy . In US uncle Sam guarantees every dime of yours for a single account up to 100k . So if u for e . g had a 300k to invest - just open 3 accounts with 3 diff banks . The only Silver lining i can see in these troubled times is, Oil prices is tumbling hence cheaper petrol, due to anticipation of low demand / Global economic slowdown by Oil suppliers |
RWC2011 (9262) | ||
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