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What Are The Chances Of Santander Going Bust?


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If Spain goes pop, & there are insufficient funds for a bailout, do we think Santander could survive? - How strong / diversified are they?

Would the British government step in? - after all, they own Abbey, Alliance & Leicester & Bradford & Bingley - would be catastrophic for the UK if they go down.

Seems to be a question the UK press are avoiding right now

Discuss?

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If Spain goes pop, & there are insufficient funds for a bailout, do we think Santander could survive? - How strong / diversified are they?

Would the British government step in? - after all, they own Abbey, Alliance & Leicester & Bradford & Bingley - would be catastrophic for the UK if they go down.

Seems to be a question the UK press are avoiding right now

Discuss?

you can run but can't hide from the debt monster

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I bank with them for business and personal and have been drawing down my money from the accounts in the £500 daily limits for a while for this very concern of Spain having a problem.

You'll have to guess where the money is now though. ;)

oohh, ooohhh... is it in RBS?

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If you have more than £50k in any of the Santander brands (I think they have 3 separate banking licences), I would definitely move the money to another bank.

HSBC and Nationwide look the safest bets to me, although HSBC's savings rates are pretty miserable.

I moved all my money out of A&L earlier this year, partly because of rubbish rates after introductory bonus rates expire, partly because of terrible service and partly because of solvency risk.

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I bank with them for business and personal and have been drawing down my money from the accounts in the £500 daily limits for a while for this very concern of Spain having a problem.

Any bets on when Spain will go? 1st Jan will see the increase in banking protection so I think it might be allowed to go before then.

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I read recently that there's speculation that VW Group was considering closing down the loss-making SEAT brand unless its results improve. That would be a big blow to the Spanish economy. 'Auto democion' ?

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If Spain goes pop, & there are insufficient funds for a bailout, do we think Santander could survive? - How strong / diversified are they?

Would the British government step in? - after all, they own Abbey, Alliance & Leicester & Bradford & Bingley - would be catastrophic for the UK if they go down.

Seems to be a question the UK press are avoiding right now

Discuss?

Santander are the masters of creative accountancy I think the odds of them going bust are very good.

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If you have more than £50k in any of the Santander brands (I think they have 3 separate banking licences), I would definitely move the money to another bank.

HSBC and Nationwide look the safest bets to me, although HSBC's savings rates are pretty miserable.

I moved all my money out of A&L earlier this year, partly because of rubbish rates after introductory bonus rates expire, partly because of terrible service and partly because of solvency risk.

M&S do a 3 year bond (£100 early cancellation penalty) which is held by HSBC. The rates on that are 3.2% I think.

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Well I'm in the process of moving money out of A+L for the reasons listed above (rubbish service, poor IRs), but I'm moving the money into another Santander savings account., but a major concern is that you can only move 10k a day and when I move the money, it's not actually appearing to move?? I can only presume it takes a few days as I moved £1 to make sure I'd put the bank details in correctly and the dates on the transfer are 3-5 days after I moved it??

Anyway, the whole Santander thing does concern me, I posted a thread on the very same topic about 6 months ago.

If Nationwide are so safe, why are they offering a savings account at 2.9%, do we think they're safe?

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Well I'm in the process of moving money out of A+L for the reasons listed above (rubbish service, poor IRs), but I'm moving the money into another Santander savings account., but a major concern is that you can only move 10k a day and when I move the money, it's not actually appearing to move?? I can only presume it takes a few days as I moved £1 to make sure I'd put the bank details in correctly and the dates on the transfer are 3-5 days after I moved it??

Anyway, the whole Santander thing does concern me, I posted a thread on the very same topic about 6 months ago.

If Nationwide are so safe, why are they offering a savings account at 2.9%, do we think they're safe?

Yes, they haven't fully implemented the 'faster payments' scheme so all transfers over £300 take a day or two at least. Just get your money away from them is my advice. The £10k limit is common to all banks - it is due to anti money laundering restrictions in the UK.

Don't know about Nationwide. They used to be fairly decent but they have been getting more and more 'bank-like' in their customer service and rates and charges, etc. I don't think they're going down but they are having to work hard to make up the lost profit on their basic mortgage SVR @ 2.5%.

I have been with HSBC since Uni and although they are rubbish for savings rates, they do basic banking well. I can transfer from my account to another HSBC account and it's virtually instantaneous. As in, whilst you're talking to the other person on the phone instantaneous.

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why should the british govt step in?maybe pay out depositors but deposits are a fraction of liabilites.no way should we be on the hook for bondholders/equityholders.

will they survive?no.

they stepped up in South America when the yanks left the place and whilst the spainish regulator prevented them getting involved in the MBS mess in the US on the grounds they didn't have the manpower to police it(or some such excuse),they got fully involved domestically and shovelled up the sh1t in the UK/elsewhere.

B&B's loan book;have they bought out their dead?methinks no.

one million empty homes in spain from 2008.watch it and weep ye EU teabitchez

highlight spanish journo @1-05 saying the levels of corruption 'is huge,in every region,every little town.'

then check out the half finished flats thereafter.grim.13,000 flats half finsihed,2,00 flats sold.

Thats the bit that never gets mentioned by governments/media isnt it?

They are all happy for jo schmo to think that the bail outs only happen for that reason.

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Yes, they haven't fully implemented the 'faster payments' scheme so all transfers over £300 take a day or two at least. Just get your money away from them is my advice. The £10k limit is common to all banks - it is due to anti money laundering restrictions in the UK.

Don't know about Nationwide. They used to be fairly decent but they have been getting more and more 'bank-like' in their customer service and rates and charges, etc. I don't think they're going down but they are having to work hard to make up the lost profit on their basic mortgage SVR @ 2.5%.

I have been with HSBC since Uni and although they are rubbish for savings rates, they do basic banking well. I can transfer from my account to another HSBC account and it's virtually instantaneous. As in, whilst you're talking to the other person on the phone instantaneous.

Tesco 2 Year 3.4%

Instant transfers.

AA 5 Year 4.5%

Good if wife is non taxpayer.

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Well I'm in the process of moving money out of A+L for the reasons listed above (rubbish service, poor IRs), but I'm moving the money into another Santander savings account., but a major concern is that you can only move 10k a day and when I move the money, it's not actually appearing to move?? I can only presume it takes a few days as I moved £1 to make sure I'd put the bank details in correctly and the dates on the transfer are 3-5 days after I moved it??

Anyway, the whole Santander thing does concern me, I posted a thread on the very same topic about 6 months ago.

If Nationwide are so safe, why are they offering a savings account at 2.9%, do we think they're safe?

I recently moved some money out of A&L in tranches. Appeared in my personal account 'virtually' the next day. Funds actually transferred on the 4th day (I think, might have been 3rd day). Never had any problems with A&L service myself.

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If there's a run then they'll go the same way as any other bank. I wouldn't want to get caught up in any nastiness between Spanish and UK govts and regulators, nor be reliant (in the last resort) upon the largesse of Mrs Merkin and the German taxpayer. I'm entirely baffled why anyone else would given we're now into the realms of sovereign bankruptcies. Why take the risk? Don't get it.

http://ftalphaville.ft.com/blog/2010/11/25/416171/new-years-resolutions-for-spain/?updatedcontent=1

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Santander are part of the Inter-Alpha group of banks. This group is a who's who, of banks that like their taxpayer's money

Membership of the group has now grown to eleven banks, representing fifteen European countries, namely:

AIB Group, Eire

BANCO ESPIRITO SANTO SA, Portugal

Santander, Spain

Soc Gen, France

ING Bank, the Netherlands

Intesa Sanpaolo

KBC Bank, Belgium

Nordea, Denmark, Finland and Sweden

National Bank of Greece, Greece

Commerzbank

The Royal Bank of Scotland Group, UK

http://www.inter-alpha.com/

I'm sure the other banks will help them out if there are any problems, so it's all contained.

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Santander are part of the Inter-Alpha group of banks. This group is a who's who, of banks that like their taxpayer's money

Membership of the group has now grown to eleven banks, representing fifteen European countries, namely:

AIB Group, Eire

BANCO ESPIRITO SANTO SA, Portugal

Santander, Spain

Soc Gen, France

ING Bank, the Netherlands

Intesa Sanpaolo

KBC Bank, Belgium

Nordea, Denmark, Finland and Sweden

National Bank of Greece, Greece

Commerzbank

The Royal Bank of Scotland Group, UK

http://www.inter-alpha.com/

I'm sure the other banks will help them out if there are any problems, so it's all contained.

All the dominos in one box.

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  • 440 Brexit, House prices and Summer 2020

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      • down 5% +
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