MSE News: Euro crisis - How safe is Santander? 10 October 2011 at 4:05PM in Savings & investments 74 replies 13.1K views

Former_MSE_Guy

This is the discussion thread for the following MSE News Story:

"The eurozone crisis threatens to destabilise Europe's banking system, so what does that mean for the Spanish giant? ..."

Read the full story:
Euro crisis: How safe is Santander?

Bell98

My company has a Pension Scheme and through it I (and a considerable number of other staff ) invest in Santander. Am I still covered by the personal safety net of £85,000 by the government or because it's a company scheme are all the staff who contribute only entitled to one payment of £85,000 ?

gozomark

do you mean the pension scheme invests in their shares, or saves in their savings accounts ?

Minniethemoocher

I have some shares in Santander, from when it used to be Abbey National and issued shares to its members. I pay Spanish Tax on my dividends, so although the UK arm is meant to be ring-fenced in the event of problems in Spain, I presume that if Santander go down, I would lose my shares?

Already lost my shares when Bradford and Bingley went down..:mad:

Don't want to lose out again!

dunstonh

My company has a Pension Scheme and through it I (and a considerable number of other staff ) invest in Santander. Am I still covered by the personal safety net of £85,000 by the government or because it's a company scheme are all the staff who contribute only entitled to one payment of £85,000 ?

it is unlikely you personally invest in Santander shares in a company pension. However, the funds you utilise may hold santander shares in them.

Shares are not covered by the FSCS protection scheme (for logical reasons). Funds are. However, the underlying assets of the funds are not (for the same logical reasons).

bubbles0169

does anyone know if it were to go how long would it take to get my savings back through compensation? it an ISA being used to save for my wedding!

dunstonh

does anyone know if it were to go how long would it take to get my savings back through compensation? it an ISA being used to save for my wedding!

2 months to 2 years.

bubbles0169

oh carp! would it be too drastic to close it? how much warning would we get it was going bust?

DanJo

Eeeks.... what about my Santander mortgage...!

Thrugelmir

Santander has a better credit rating than Barclays, Lloyds or RBS. So unsure why an article has been written specifically on them.

split_second

must have been because they got downgraded, barclays are in the same article and a lower rating