Runs on Spanish Banks ..

MrRee_2

... will it affect Spanish Banks operating in the UK?

talexuser

Theoretically it should not affect Santander, separate business and protection license etc. However the bad publicity might have an effect on Joe Public's perception of the brand which won't help profits?

MrRee_2

Indeed, add the reports that Santander have terrible Customer Service, and you have a poisonous mix of messages.

I'm sure the UK funds would be safe - but I wouldn't bet MY Savings on it!

isofa

MrRee wrote: »

Indeed, add the reports that Santander have terrible Customer Service, and you have a poisonous mix of messages.

I'm sure the UK funds would be safe - but I wouldn't bet MY Savings on it!

Santander's UK arm is 100% safe up to the 85K individual limit covered by the FSCS. I'd be totally happy to have 85K of my money there without issue as it's 100% guaranteed.

(Enjoying a very good 4% fixed cash ISA rate at the moment as many canny savers are!)

MoneySaverLog

Quick run on the banks... Santander next?

innovate

MoneySaverLog wrote: »

Quick run on the banks... Santander next?

Huh?

Is this the "let's create a panic" thread?

ChiefGrasscutter

We last had those sorts of threads on MSE after the ICEsave/Kaupthing debacle in 2008. There were dregs of humanity on here trying to ramp up panic saying take your money out of X, mark my words they are in touble......err no they were not actually.

opinions4u

Moody's has cut the credit ratings of 16 Spanish banks and Santander UK.

apt

ChiefGrasscutter wrote: »

We last had those sorts of threads on MSE after the ICEsave/Kaupthing debacle in 2008. There were dregs of humanity on here trying to ramp up panic saying take your money out of X, mark my words they are in touble......err no they were not actually.

They were both in trouble and ICEsave depositors were very lucky to get all of their money backed as it was backed by a deposit protection scheme that did not pay out.

atush

U think they were rrefrring ot posts here say xyz OTHER banks were oging down as well. Scaremongering if you like.

C_Mababejive

I put money into ICESAVE no more than two weeks beofre they went t%ts up. At the time ,their website was all praises and goodness. Two weeks later ,it no longer worked and my money disappeared for months. I consider myself lucky to get it back. The truth about banks is now even more apparent to me.

Money is nothing more than leverage for debt.

Banks that you gave your money to no longer have it. They loaned it out.

The only things that matter are debt and tangible assets.

Anything else is just pictures of The Parthenon/The Spanish prime minister/or indeed HM Queen...the only thing that makes them "worth" something is a word of mouth guarantee by a prime minister and his bent bank.

If thats not there,why they are simply pictures...and if/when/where that happens...there will be civil war on the streets.

Tread carefully..trust no one.