"The chance maybe remote (I dare say the Lehman’s depositors thought so in 2008) but if one of our big four banks did a Lehman’s type failure how confident are you on Julia running over to your place within 24 hours with your government guaranteed ¼ million!"
A point that is lost on a lot of people (journalists included): The Government guarantee on deposits is only available now for funds that were held in accounts as of March 2010. This means any money deposited after that time DOES NOT have the guarantee.