Runs on Spanish Banks ..

quidsinquentin

I was just about to post the same thread in DT for discussion.

It seems to me at the moment, that comments have been made in the media about the possibility of a run on European banks, specifically Greek and Spanish ones. But it's not hard to see that expanding further if Greece exits or much more happens in Spain.

The fact that everything is in turmoil itself can lead to people not wanting to take a chance because of recent experiences IMO.

Hope it doesn't, but would not be surprised if it does.

john9159

My concern is that I recently closed my savings accounts with Santander and transferred these into Santander's Investement ISA (£10,680.00) and Portfolio Investment ((£1,820.00).
My question is if the bank gets into difficulty, how much of this money is guaranteed under the BoE protection?
I mean, if the bank went under or the share value of those investments crashed as a result of the bank going under, is all of my money guaranteed?
Thanks for your patience.

molerat

From elsewhere

"Santander UK plc is an autonomous subsidiary of the Santander Group, with more than 90% of its total assets held in the UK and a eurozone sovereign exposure of less than 1% of assets."

CLAPTON

curious though that the dividend yield for santander is 13.4%

that is amazing and massively better than any saving a/c so why is everyone not buy santander shares?

MoneySaverLog

john9159 wrote: »

My concern is that I recently closed my savings accounts with Santander and transferred these into Santander's Investement ISA (£10,680.00) and Portfolio Investment ((£1,820.00).
My question is if the bank gets into difficulty, how much of this money is guaranteed under the BoE protection?
I mean, if the bank went under or the share value of those investments crashed as a result of the bank going under, is all of my money guaranteed?
Thanks for your patience.

None of it will be :eek:

opinions4u

john9159 wrote: »

My concern is that I recently closed my savings accounts with Santander and transferred these into Santander's Investement ISA (£10,680.00) and Portfolio Investment ((£1,820.00).
My question is if the bank gets into difficulty, how much of this money is guaranteed under the BoE protection?
I mean, if the bank went under or the share value of those investments crashed as a result of the bank going under, is all of my money guaranteed?
Thanks for your patience.

There is no Bank of England protection.

I'd suggest you read this link carefully.

http://www.moneysavirngexpert.com/savings/safe-savings?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar

If you have investments and the value of those assets falls you are not protected.

C_Mababejive

Shall i tell you what the UK Government and the BoEs guarantees are worth? well if an institution went belly up what would they do? Simples..they would artificially create more money simply by creating worthless promisory bonds and printing more cash. So your pictures of HM Queen got blown away by the wind? No problem...roll em....whirr whirr..squirt squrit..print print,,here,,have some more !

The PM/world leaders and the banking gurus and very wealthy know this.

Its all a big con trick to keep the proletariat in their place.

Now if Santander for example went belly up and you said to the UK Government,,well Dave, i had £85k in that bank and you guaranteed it along with your bent colleagues in the BoE...but i dont really want any more pictures of the queen. Could i instead have the equivalent in Gold..they with flick you the finger..and why? because Gold ,like some many other things,are tangible assets.

So lets not talk Gold as its so controversial.

If the same thing happened could you say to Dave and the BoE..well instead of some more pictures of the Queen,could you buy me an £85k stake in a property and I will pay off/obtain a mortgage for the rest..what do you thik they would say? Its all the same isnt it? £85k worth of credit or value? No..they would flick you the finger..and why? Because you want something tangible,not just a promissory note.

Bring back the Gold standard..or similar.

IronWolf

john9159 wrote: »

My concern is that I recently closed my savings accounts with Santander and transferred these into Santander's Investement ISA (£10,680.00) and Portfolio Investment ((£1,820.00).
My question is if the bank gets into difficulty, how much of this money is guaranteed under the BoE protection?
I mean, if the bank went under or the share value of those investments crashed as a result of the bank going under, is all of my money guaranteed?
Thanks for your patience.

If your money is in a Stocks & Shares ISA it will be ringfenced and will not be used for fractional reserve banking like ordinary desposits. However it is not unheard of for these ring fences to have been mismanaged and client funds mixed with the banks own funds, but its very rare.

Noone with under £85k in Santander needs to worry, your money is guaranteed by the UK government who will not default on it.

If you have over £85k, then move the excess, NO bank can survive a run on it without emergency loans, and with the current media scaremongering its possible a run on Santander could occur, even though the UK business isnt in trouble.