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Am thinking of opening one of their 4% ISA's but absolutely clueless with money/finance's. Is it a safe bet, what with them being Spanish etc and all the problems they are having over there at the moment?
If not the Santander, any recommendations?
I've got cash with them - they are covered by the uk govt protection scheme so unless you have over 85k with them (!) you are about as safe as with any UK bank. Have a look at Martin Lewis' money saving website he has some good advice on this sort of thing
Don't think the £85k thing will come into play, not yet anyway!!
If they are covered by the UK Govt that might just swing it.
I wouldnt open a bag of out of date crisps in one of their branches, absolutely abysmall customer service,especially when you want to take YOUR OWN MONEY OUT.
Customer services lie and ask for more proofs of id,than an terrorist would need to meet the queen, their customer compalints dept cant get the branch to answer any questions, eventually a nice chap in complaints did give me a hundred quid to keep quiet.
eventually a nice chap in complaints did give me a hundred quid to keep quiet.
Excellent customer service then. 😉
+1. Awful customer service when you need to rely on them.
I just transferred my cash ISA to them from HBOS. Applied online, confirmation of account details by email within a day, filled out form for ISA transfer and it all happened without any further effort. Took about 10 days in total.
They are UK registered so protected under the financial composition scheme up to £85k as mentioned above.
Can't fault them so far. May eat my words when I try to move my cash for better rate next year.
At the moment I bank with Santander and natwest. I have a cheque in my wallet that I want to pay into a savings account (part of my compensation for being knocked off my bike by a car earlier in the year) so trying to decide between the devils I know and those I don't...
trying to decide between the devils I know and those I don't
Pay it in to the highest interest account you have. Or get a better account elsewhere.
I've had so much bad experience with them that I advise anyone I know and like to stay well away . My partner is in recruitment and has had a lot of dealings with them and their terrible service even extends to how they run their depts and treat people that work for them , both temp and perm .
With respect to the spanish/security thing, paradoxically Santander UK are probably one of the safest places to stick you money.
Notwithstanding the deposit guarantee scheme, Santander UK is is not exposed to European real estate like most of the UK high street. I gather all their mortgages for example are on UK properties.
Santander UK is a UK bank, governed by the FSA. Client deposits may not leave the country and there's a mutually agreed moratorium on repatriation of commercial profits too (between Santander Spain and UK FSA) until further notice.
As is usual in finance the facts are the first casualties of Daily Mail journalism though 😉
I can't believe they are as bad as their reputation would have everyone believe, but as project says I would not touch them. I couldn't do with the hassle for an extra 0.5% or whatever is their differential
+1 for poor customer service
