Santander..safe?

Tabithanyc

In light of all crises Euro; and talk of perhaps Spain being next after Greece to crumble, is my money safe in Santander? :embarasse

antrobus

Probably. You'll have FSCS protection and given what Santander has acquired in the UK over the past few years, it's now big enough for the UK govt to care what happens. Personally I wouldn't be worried, but others might have a different opinion.

Santander UK included in Moody’s Spanish bank downgrades
http://www.bankingtimes.co.uk/2012/05/18/santander-uk-included-in-moodys-spanish-bank-downgrades/

CleanShirt

Santander UK is part of the FSCS so yeah up to 85k. The bank is pretty safe, considering that each country the bank is in is a separate entity, the UK bank is completely self sufficient- its just the profits that go to Banco Santander, so isn't reliant on the other parts of the bank. Also UK Santander has no significant exposure to the dodgy euro countries, including Spain and Greece.

InsideInsurance

I think the question of safety with Santander is much more about their level of competence than their level of capitalisation

MoneySavingNovice

Interesting article in the Daily Mail:-

http://www.dailymail.co.uk/news/article-2146112/Spains-banking-crisis-rocks-Santander-UK-new-worries-British-customers-credit-rating-blow.html?ito=feeds-newsxml

innovate

MoneySavingNovice wrote: »

Interesting article in the Daily Mail:-

http://www.dailymail.co.uk/news/article-2146112/Spains-banking-crisis-rocks-Santander-UK-new-worries-British-customers-credit-rating-blow.html?ito=feeds-newsxml

Just about the only bit worth reading in that article is this one:

Martin Lewis of MoneySavingExpert.com told Mail Online that Santander 'getting into trouble' was an 'unlikely event'.

He said: 'In practical terms Santander UK is a British bank, fully UK regulated and thus in the unlikely event it were to get in serious trouble, the government via the Financial Services Compensation Scheme guarantees the first £85,000 per person in it.

'If you’ve more, then it’s always a good tactic to spread it in £85,000 chunks across a number of different institutions to mitigate the risk.'

cydney65

If Martin says it's ok that's alright with me.

blacksand

Can anyone help? my little girl has just got one of the above.
does anyone know where i can get a case please.

MoneySavingNovice

cydney65 wrote: »

If Martin says it's ok that's alright with me.

and so does the BBC

http://www.bbc.co.uk/news/business-18114153

InsideInsurance

MoneySavingNovice wrote: »

and so does the BBC

http://www.bbc.co.uk/news/business-18114153

A subtlety more trust worthy source