Many banks are technically insolvent which means that if depositors attempt to withdraw all of their cash, the banks will fail.
Are banks safe? The answer is yes and also no. Savings are protected up to £85k with some short term measures protecting capital of up to £1million for a short period.
With interest rates at an all-time low, it must be possible to get a better rate on savings? The question is, how? And will my savings be secure? What can be done in the long and short term?
As the mantra goes: "cash is king". Does this really apply anymore? Cash probably shouldn’t even be classed as an asset because an asset is meant to make money. In this video we have put together the 2 key reasons why cash is guaranteed to lose money