European investors: do you trust your bank with more than €100k?

[HmtmC]

Hello European investors,

I wonder about how you manage your stache in Europe once it reaches a larger scale - have you more than €100.000 in one account?

€100k is the max amount which is guarenteed by the government. But after what we've seen in Cyprus, all savings above 100k do not seem safe anymore in case your bank files for bankruptcy. And lets be honest, in case there was a Cyprian mustachian he or she now is kinda screwed...

So what is the best way to secure your hard earned stache? Split it across several banks? Even split it across countries? Even split it across regions (e.g. an US account)? Or do you rely on the fact that your bank is "safe" and this will never happen to you?

[daverobev]

Split it across different financial institutions. That is all.

No reason to 'trust' a business. No reason to take the risk when it costs nothing to avoid.

Not sure what you'd be doing with that much money in a bank account, anyway. If you own stocks, I believe they are covered differently (the bank should hold the assets in a trust account; they are your property).

[Christof]

I don't keep that amount in cash anywhere... Stocks and funds are protected against bankruptcy, although you might not have access to them for a year, or so... In a situation like in Cyprus I'd expect new taxes that depend on how much money the government needs, not how much one has saved.