and if a ring fenced broker goes under are your shares transfered to another provider or cashed in?
2007-09-19 07:32:35 · 2 answers · asked by Anonymous in Business & Finance ➔ Investing
Halifax is a Bank & as such (the first 95%) of all 'deposits' (up to 36k) are guaranteed .. however "the value of your shares can go up and down" ..
By the time the Halifax goes 'bust' so will most other Banks and the financial system will have collapsed and your shares (along with all paper money) will be worthless .. you will be spending your time trying to find food rather than worrying about abstract things like money ...
2007-09-19 08:03:37 · answer #1 · answered by Steve B 7 · 0⤊ 0⤋
Yes, they have been fully guaranteed by the government announcement last week.
But if there is a run on all the banks, even the government will go bust, not a very bad thing perhaps.
(PS. My money is in Zimbabwe. It is quite safe there).
2007-09-22 08:30:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋