Wednesday, April 18, 2012

Time for a run on a bank???

As fears grow for Spanish banks we explain what it means for Santander customers

Are my savings safe? The £120billion of UK savers’ money with Santander stays in the UK and is not fed back to Spain. In – what experts say – the unlikely event of Santander’s UK arm going belly up, the first £85,000 (£170,000 for joint accounts) of savers’ deposits is protected by the UK savings safety net, called the Financial Services Compensation Scheme.

Posted by mark @ 12:01 PM (1795 views)
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9 thoughts on “Time for a run on a bank???

  • happy mondays says:

    I have all my savings with these guy’s & feel very secure….

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  • general congreve says:

    Are your savings safe in Santander?

    No, despite Santander being a Spanish bank your savings are still in Pounds Sterling.

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  • A lot of attention is focussed on Spain and its debt problems. There is a stony silence on Portugal, which seems to have got itself in a worse mess. I wonder if the problems in Portugal are about to spill over into Spain’s (and UK’s) banks causing a crisis.

    BTW, Spain is going to the market for more funds tomorrow – I think that when Portugal goes for more funds the only lender will be the ECB.

    Only a few days ago, I remember seeing a Spanish official on Sky saying that some of the smaller savings banks are consolidating (or merging). He felt this would help the consumers (deposit holders) by being part of more “robust” organisations.

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  • On the lighter side…
    “The King of Spain has apologised for going on an elephant-hunting trip in Botswana while his country was struggling with recession”. telegraph/reuters.

    He broke a few bones at the same time! Alas, as Spain’s situation gets worse it will be the people that bear the pain.

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  • Santander sent me a nice reassuring email the other week trying to tell me that everything was fine…

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  • the usual bank tactic before it collapses

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  • micasasucasa says:

    (adopts a Kevin Keegan voice) I tell you honestly, I will love it if Santander went bust, love it!

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  • crash bandicoot says:

    R&R, Santander sent me an email the other day telling me that I had a million pounds in an account that I never knew I had and offered to transfer it to my normal bank account for me. I wish that they’d hurry up because my money seems to be going quickly this month…

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  • markj69 str05 says:

    Transferred mine out last year. Hate to trust any of them, least of all johnny foreigner. Any opportunity to slight the british, I think they’ll take it. Just look at previous years euro-song points!
    Wouldn’t surprise me if they closed the uk part and defaulted, leaving uk gov to pick up the pieces.

    Wish i had had the [email protected] to invest asper GC. But then, I sold 05 thinking I’d be buying within 2yrs. Starting to wonder how the hell people are expected to plan their lives and futures when there are so many influencial crooks in gov’t and finance.

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