20% of savers do not think that money is safe

According to the results of a recent survey around 20% of savers in the UK do not think that they money is safe due to the chaos and turmoil that has hit the financial markets recently. Many consumers are worried about their savings, and many others have said that they plan to withdraw their savings over the coming weeks.

The research by YouGov showed that nearly 40% of people thought that their money was at risk in one way or another, and the figures showed that women tended to be more concerned about the safety of their savings than men. Consumers were also asked to score banks based on how safe they thought that their savings would be with those banks.

Top of the list was National Savings & Investments, which has been inundated with customers trying to deposit cash. Irish banks such as the Bank if Ireland and Allied Irish also came towards the top following the increased safety net guarantee from the Irish government.

In fourth place was Nationwide, and this was followed by Lloyds TSB in fifth place. Towards the bottom of the list in terms of consumer confidence was HBOS, which was taken over by Lloyds, and at the bottom of the list was the recently part-nationalised Bradford & Bingley.