Santander. Spanish economy in trouble?

yee_har

(checking facts)

Stompa

Fitch downgrades Spain:

http://www.bloomberg.com/apps/news?pid=20601087&sid=a0UIRsn2GPGw

jamesd

armour wrote: »

I've got a flexible mortgage with Santander atm & I was thinking of putting significantly moore than 50K in the savings pot - should I think again?

You should think again about putting more than £50k with any bank, regardless of its nationality. While Icesave was a success for UK savers there is more risk with institutions using the passport scheme instead of the UK's native FSCS protection, so you might want to stick to those with FSCS protection.

bryanb

juicyjude wrote: »

If you get a transfer pack from Nationwide though, just a slight bit of information which may help you. I am still trying to transfer my Bradford and Bingley(Santander) ISA to Nationwide after nearly 8 weeks!

Me too! only 4 weeks so far though.
I was a Icesave customer when they went down. FSCS was brilliant eventually, but they took a while to get anything moving. I lost control of my accounts for some months. Plus the stress of not knowing how things would pan out.

juicyjude

Oh its very early days for you then bryanb!!!! It would have helped though if Nationwide had sent the forms to the correct address and indeed sent them off when I completed the application form. They actually left it three weeks before sending the forms (one with cheshire, one with B n off to the old providers. This may be the case with your application as well. Dont assume that when you completed the form it would be sent straight away!!! It could be sitting in the "Put it off until the customer starts getting really fed up" pile! Just a warning, but you may be one of the lucky ones. Good luck

bryanb

Thanks, I'll call in and check tomorrow.

paulpa66

i thought £85k was guaranteed.
If my girlfriend has an account with them am i best only having £50k in each account, hers and mine then open an account with ANOTHER for the rest.

grumbler

Yes, it's £85K: http://www.moneysavingexpert.com/savings/safe-savings

Why would you be best having £50K?

10_66

paulpa66 wrote: »

i thought £85k was guaranteed.
If my girlfriend has an account with them am i best only having £50k in each account, hers and mine then open an account with ANOTHER for the rest.

The FSCS protect up to £85K (used to be £50K) for deposits. If it's investments, then it's £50K. HERE'S the link for the FSCS website.

hermante

grumbler wrote: »

Yes, it's £85K: http://phone-shop.tesco.com/tesco-mobile/simonly/SimCard

Why would you be best having £50K?

because he resurrected a 15-month-old thread