I like Nationwide but do not like having all my eggs in one basket.
The government has guaranteed the first £35,000 but I have a bit more than that and am thinking about putting a little bit more.
I know this is only vaguely computer-related but I thought there might be some financial people on this forum who know about these things and can say that Nationwide is secure or not as the case may be?
Also I thought this might be of interest to other potential investors.
Banks like Nationwide are in a better position than Northern Rock were last year, mainly as they now realise the credit crunch will now slow down & lending has been reined back. Northern Rock over stretched themselves hence the goverment having to bail them out.
Nationwide as others have done are now looking closer at who they led to. And more importantly having the reserves to use in an emergency, more so since the Portman takeover.
But yes if a bank does go bust only the first £35k is safe, if you are that worried then hedge your bets and spread they money around, but you will get less interest.
to tell you whether or not your money is 'safe' with a bank, or with any other financial institution for that matter.
People can have an opinion, but that's a different thing, and you should not make any financial or investment decision based on anything you read here, in the forum, without first consulting a qualified financial adviser.