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Why I’ve stopped using banks to save (and you might want to, too)

In this age of blanket guarantees, I have changed the way I think about saving

By Andy Davis   October 2017

General View of a Northern Rock. Photo: PA

What happens when people stop believing their savings are safe? We glimpsed the answer in 2007, when evening news bulletins led with the sight of savers queuing outside branches of Northern Rock to withdraw their money. They were scared the Rock was bust, although the Bank of England immediately stepped in with about £27bn of emergency support, so there was no danger that they would actually see their deposits evaporate.

The financial crisis had arrived. This epochal convulsion has produced countless…

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