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MSE News: Euro crisis - How safe is Santander?

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MSE News: Euro crisis - How safe is Santander?

edited 30 November -1 at 1:00AM in Savings & Investments
74 replies 13.1K views
MSE_GuyMSE_Guy MSE Staff
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I've been Money Tipped! Newshound! Chutzpah Haggler
edited 30 November -1 at 1:00AM in Savings & Investments
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? ..."
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Replies

  • Bell98Bell98 Forumite
    13 posts
    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 ?
  • gozomarkgozomark Forumite
    2.1K posts
    do you mean the pension scheme invests in their shares, or saves in their savings accounts ?
  • 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!
  • dunstonhdunstonh Forumite
    101.7K posts
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    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).
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • 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!
    I am not bossy I just have better ideas:p
  • dunstonhdunstonh Forumite
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    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.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • oh carp! would it be too drastic to close it? how much warning would we get it was going bust?
    I am not bossy I just have better ideas:p
  • DanJoDanJo Forumite
    7 posts
    Eighth Anniversary First Post Combo Breaker
    MoneySaving Newbie
    Eeeks.... what about my Santander mortgage...! :(
  • ThrugelmirThrugelmir Forumite
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    Santander has a better credit rating than Barclays, Lloyds or RBS. So unsure why an article has been written specifically on them.
    “Markets have been so good for so long, that many investors are trivialising the advanatages of actively managing portfolio risk" - Gervais Williams
  • must have been because they got downgraded, barclays are in the same article and a lower rating
    Who remembers when X Factor was just Roman suncream?
This discussion has been closed.

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