Banks have paid notoriously low rates on savings for years - something that has yet to change at many of the biggest firms, despite the US central bank hiking its benchmark rate from near zero to more than 4. That would have been seven years where you’re under observation and if you get a windfall, that can still go to the creditors.

The FDIC protection for deposits makes banks look appealing in difficult times, but there are alternative places to put money.The Medalist Ratings indicate which investments Morningstar believes are likely to outperform a relevant index or peer group average on a risk-adjusted basis over time. He invests in a range of funds through both pensions and Isas to take advantage of the generous tax breaks on offer. If you feel your money is losing value in your bank account you need to plan and manage a financial strategy to make sure your finances grow over time and stay healthy. Mistrust toward banks and other financial institutions prompts more fearful individuals to seek alternative venues to park their capital.

Just as the term ‘Wall Street’ references the entire US financial industry, the term ‘Bay Street’ has come to signify the Canadian financial industry and its armies of bankers, brokers, salespeople, and advisors across the country. Persistent inflation and the low interest on bank deposits have led to a general impoverishment of families who are seeing their savings disappear. They slide the land titles into a shell corporation and then sell out to a development corporation for 75% of book value.Leaving all your money in the bank feels like a safe bet, especially as it carries a government-backed guarantee up to 85k. Litigation Funding takes advantage of the fact that in the UK, if a number of conditions are met, these cases will be won.