As Spanish owned should I be worried?

They’ve got a UK banking license so covered by the FSCS, so ok for deposits up to £85K, not so sure about the safety of any money in Santander shares though.

yes.

No

The Spanish banking sector is one of the more heavily regulated in Europe. They have recently tightened the regulations on their rule regarding loans versus liquidity too.

I’d rather have my money in a Spanish bank then a French one.

Yes, but if you panic and withdraw it, and others do too, then the insecurity of funds becomes a self-fulfilling prophecy.

It’s nothing to do with being Spanish owned, but I don’t trust Santander at all. I had an account with them (previously N&P) which I just used for rent, bills, etc. When I got a flat with my then girlfriend I added her to the account so we could both use it as the rent, bills, etc were for both of us. She used the account fine for several years until we got married and she went into a branch to change her name. She was then told that they have no record of her (despite her using the card, with her name on, in the ATM to show otherwise). We were told that the only way to fix it was to close the account and open a new one so we did (but with another bank). Just to add one last balls-up, about 18months after the account was closed I received a new debit card!

Have three accounts with santander.. never had a problem at all.

I’d be worried, take it all out and spend it on a holiday to greece or maybe iceland. Even better stuff it all under your mattress and turn strava so we can see when you go out for a ride…..

elzorillo – Member

Have three accounts with santander.. never had a problem at all.

I suggested staying clear of Santander a couple of months ago.

http://singletrackworld.com/forum/topic/changing-bank-accounts-pita

😆 @ Helios

Having worked in banking for a number of years, id say that if anyone loses a penny from their balances held at Santander or any other bank operating in the UK, I will eat my hat. Systemic risk means the government will supplement any bank that needs refunds to repay in full the banks liabilities to its customers.

The FSCS is more of a political tool in creating confidence within the sector, when Bradford and Bingley went pop, I think the FSCS had about £2bn in it and the amount paid out of £14bn (i cant remember the figures off the top of my head, they are ballpark).

Although shares, id be concerned, unless you are going short.

was on R4 this am. Although it is part of Santander, it’s a seperate entity controlled by the FSA so even if Santander Spain went t1ts up, and wanted to move UK money to shore it up, it would only be with the approval of the FSA which they wouldn’t get.

So it’s as safe as A N Other british bank.

[disclaimer – that’s how I recall Simon Jack presenting it at least. I don’t believe he used the phrase t1ts up]

Do you trust the system, punk? Well, do ya?

1. Never keep more than 85k in a “banking group” – HSBC and Santander is obvioulsy part of the same banking group. I don’t have 85K myself, just saying though.

2. If shit hits the fan in Greece, banks will start blowing up. And then it’s a matter of time until the world focuses on Spain, Italy and so forth.

There will be a point where the Eurozone and UK will come to a point (again) where they will have to bail out everyone again. I wouldn’t bet that the UK, for instance, can afford that, again, or forever.

But then again the past years have taught me never to question the power of quantitative easing. If they can “print”, they will.

I guess it’s the small matter of declining value of the pound to take into consideration and people’s pensions.

Of course you can trust the banks, they are…totally sound. Not at all …utterly fecked.

My mortgage is with them, if someone could make that disappear that’d be actual AWESOME!

Sadly I believe they are one of the more stable banking organisations.

HSBC and Santander is obvioulsy part of the same banking group.

Huh?

Even when santander is working and in profit, trying to get money out of them even when its your money is a massive struggle,

Wait until spain goes bnang and watch the run on the bank as the public thats you draw the money out fast, as for the governmnet promises , they promise a lot and do sod all.

donald – Member
HSBC and Santander is obvioulsy part of the same banking group.
Huh?

Sorry, I got my banks confused!

I’ve just been talking to a friend in Spain and he reckons that Santander is less vulnerable than other banks like CAM or Sabadell that put/made most of their money in construction. The bigger Spanish banks like Santander and BBVA have interests all around the world.
I’d probably be more worried about those nasty Argies nationalizing BBVA.

Still better credit rating that RBS (Nat West!). Observe protection limits and watch carefully. But UK deposits should be protected up to the limit. Scary times though. No wonder HSBC are offering such crap rates – they are better placed relatively and much more liquid, they dont have to pay up. Still safe haven, stormy waters!!

Helios…

Read my post again.. then read the one directly above mine and consider just for a moment that I could be replying to him.

Not too difficult to understand now is it?

http://www.bbc.co.uk/programmes/b01hw3zf#synopsis

They are sh1t hot on security any way, if I make an unusual transaction they are straight on the phone,same other way had peeps in switzerland trying to buy rail tickets using my details -stopped and straight on phone to me , very good I reckon.

Absolutely not.

Rectify this at once by sending me your a/c and sort code details so that I can transfer your funds.

Sincerely,

Major-General Professor Goodluck Ombungo
First Capital Casino Bank of Lagos.