Anyone here moving their Santander savings?

michaels

~Better than Halifax~ is not normally considered the gold standard in customer service

Is there any suggestion that Santander, even the non-UK bits, are in any sort of financial difficulties?

[Deleted User]

Hi,

no worrries with savings in Santander, have a look here.

MrRee_2

All the words in the world cannot make me believe them - if a country is going down, all bets are off!!

Out,_Vile_Jelly

noodle_doodle wrote: »

Is that as in you've dealt with their customer services and they've been good, or you've never had the need to deal with their customer services?

I have sorted things out in my local branch a couple of times and have had no problem. I didn't like their online banking system.

If Spain goes bankrupt we'll all be in the soup in indirect ways.

smartn

MrRee wrote: »

All the words in the world cannot make me believe them - if a country is going down, all bets are off!!

But surely as Santander UK is a seperate division and protected by the UK scheme it is no different to any other UK bank?

Degenerate

MrRee wrote: »

All the words in the world cannot make me believe them - if a country is going down, all bets are off!!

I repeat, it's a UK bank. Are you going to move your cash out of the UK altogether? Where is safer?

societys_child

As Degenerate says, Santander Uk is a British bank.

SecondLegDownIsTheBigOne

I moved all my money that was in the Eurozone out 12 mths ago. But Santander is Uk protected.

MrRee_2

I don't trust Bankers and I don't trust Governments in trouble .... UK Bank or not, I suspect that it would just fold - then, you will have to hope and wait for the UK to pay back your lost money.

Just that the UK will have too many other things to think about rather than Mr and Mrs Jone's lost savings!!

i8change

Our savings are with NS&I for security, but our wages go into Santander for Banking purposes.

I did look to moving to Nat West a year or so ago but at that time Santander were said to be one of the most secure so did not bother due to the effort involved:-

http://www.thisismoney.co.uk/money/saving/article-2035466/Worlds-50-safest-banks-league-HSBC-Nationwide-Barclays-make-in.html

Global Finance compared credit ratings at Moody's, Standard & Poor's and Fitch and the total assets of the 500 largest banks across the globe.

HSBC came 16th, Nationwide was 41st, and Barclays crept in at 49th. Spanish giant Santander, which has a big UK presence, came 10th in the study. National Australia Bank, owner of Clydesdale Bank and Yorkshire Bank in the UK, came joint 12th.
Outside of these select few, British banks did not feature in the top 50.

This year things seem different and it is down to 50th:-

http://www.gfmag.com/tools/best-banks/11661-worlds-50-safest-banks-april-2012.html#axzz1v3BC1owC

As Santander have an bad reputation, perhaps I should look at moving banks again. HSBC looking the safest bet if the reports are to be believed.

Even if you are covered by the Banking guarantee, there would still be the mess to sort out!