What Shall We Do About Santander Accounts

NewCustomerOnly

Just heard Zara and Bershka are to suffer a shock closure in Plymouth (Spanish owned) What does this mean for other spanish bank-owned business - ie what if you have a student loan being paid in?

withabix

Santander in the UK is a ringfenced subsidiary of Banco Santander.

Your money is as safe as it is in any other BRITISH bank.


What have two crap clothes shops got to do with your student loan?

innovate

Does nobody on this Forum ever search before they post anything?

https://forums.moneysavingexpert.com/discussion/3966881

NewCustomerOnly

Thats not what Laura Kuennesberg thinks! (probs watch newsnight) - do some research ... i think those shops are owned by Spanish banks - and dont believe anyone who tells you panic wont spread.... if you added up all the british student finance england money going into 'brit' santander helping keep it captilised etc etc etc - Of Course students are worried!

NewCustomerOnly

innovate wrote: »

Does nobody on this Forum ever search before they post anything?

https://forums.moneysavingexpert.com/discussion/3966881

Yes! I searched... and got a not very up to the minute (but helpful) article on bank account comparisons...

withabix

NewCustomerOnly wrote: »

i think those shops are owned by Spanish banks

Zara and Bershka are part of Intidex, the world's largest clothes retailer.

A lot of their shares may be owned by banks and other financial institutions, but that's irrelevant.

In any case, their share price is only a couple of percent off their highest EVER.

They are very profitable. 2.3 billion Euros on a turnover of 12 billion Euros.

scott_lithgows

NewCustomerOnly wrote: »

Just heard Zara and Bershka are to suffer a shock closure in Plymouth (Spanish owned) What does this mean for other spanish bank-owned business - ie what if you have a student loan being paid in?

Plymouth is Spanish owned !!! Someone better give Sir Francis Drake a shout.

atush

Shops are closing in plymouth for other reasons, and Zara is still considered quite fashionable.


A better quesiton is solvency aside, why do you have money in Santander with such bad service?

jimjames

What is different about student loans being paid in to anyone else paying money in?

My salary is paid in each month that I have to use to pay the mortgage etc which is probably a lot more than a student loan payment. I can't see what the worry is as long as you are below £85k. If you had money in Greece then that is a very different matter and I would be moving it if I lived there.