ok, i know this is crazy. but is it possible to: --set up a cross-generational US bank account (say, not to be accessed for say, 200+ years) -- aquire a substantial gain, using the factors of TIME/INTEREST to build a sizable amount money to accessible a distant relative yet to be born. (don't think this would be a Dynasty Trust, since I would be starting out with some nominal amount, say $1000.)
posted by mrmarley on Jul 12, 2007 - 7 answers

A question below made me realize that I abandoned a bank account in the UK in 1995. It was with Barclay's, and had 52p in it when I left the country. Does it still exist, or do British banking laws allow Barclays to just take my hard-earned pence after a period of inactivity? It was a savings account that returned standard interest for the time and was opened at a local branch in Llandrindod Wells, Wales. The only evidence I have that it is exists is a bank card buried under books in my folks' basement.

Or perhaps my account will grow and when I'm about 80, I will own my ancestral homeland? Or will Barclay's sue my estate for £300,00 in unpaid maintenance fees? I don't remember any fees being associated with it, but that might have been just for the first year.
posted by Mayor Curley on Jun 21, 2004 - 6 answers

My parents used to tell me fantastic tales, that back in the day (being the 1950s), banks offered interest rates on savings accounts upwards of 10%, with almost no fees and charges. In comparison, my current bank (in Australia) offers me 0.5% interest, which is completely countered by about the first hour's worth of monthly charges. This is despite the bank being more efficient, having fewer employees, and having greater access to global capital. Can anyone tell me, if the global economy is really doing so great these days, why are savings / investment interest rates so abysmal in comparison to the past? Will this ever turn around again in the future?
posted by Jimbob on May 30, 2004 - 15 answers

What is the best thing to do with a small amount of money, around $5,000? Savings interest is almost a joke, CDs look attractive or maybe even mutual funds. Preferably the safer the better, as in investing it all in a high-risk mutual fund and losing it would make me cry. I've checked out "Investment FAQ" and it seems as if CDs are the best. I know little about investing but making money doing nothing intrigues me. What would be an expected return on such an investment? Is it even worth locking the money up for something like $10 a month? [more inside]
posted by geoff. on Mar 3, 2004 - 19 answers