santander

innovate

Just set up one or two other current accounts that you can easily switch your day to day business to to if your bank folds.

barak

Santander UK has much less exposure to continental Europe than those already 'bankrupt' Scottish and English banks in our High Streets.

From The Guardian today:
The bank is keen to underline just how much it is ring-fenced from its Spanish operations. Santander's UK operation is wholly-owned by, but autonomous from, Banco Santander. It is authorised and regulated by the UK's Financial Services Authority (FSA) and a spokesman says it has its own balance sheet, separate from its parent company.

He also says 90% of the UK bank's balance sheet is UK-related money. "Sovereign exposures to Europe [excluding the UK] at 31 March 2012 were not significant, at less than 1% of total assets, and primarily related to Swiss government securities," he says. "Total exposure to eurozone periphery countries was less than 0.3% of total assets."

Ray Boulger of mortgage brokers John Charcol says Santander is "probably the safest bank in the UK" because nearly all its savings and lending is in the UK. "If it gets very messy in Europe the knock-on effect is likely to hit other banks such as Barclays and Lloyds more than it would hit Santander," Boulger adds.

BobQ

Sauveur wrote: »

I believe it is very likely Santander UK will go bankrupt. I have withdrawn all my savings, closed my current account and set my mortgage transfer in progress. I've also cancelled my contents insurance with them as they wouldn't be able to pay out if I claimed. I'm even looking at new jobs for my friend who works at the Santander call centre.

Are you serious?

You might at least leave them your mortgage. No harm in owing them money!

realaledrinker

Sauveur wrote: »

I believe it is very likely Santander UK will go bankrupt. I have withdrawn all my savings, closed my current account and set my mortgage transfer in progress. I've also cancelled my contents insurance with them as they wouldn't be able to pay out if I claimed. I'm even looking at new jobs for my friend who works at the Santander call centre.

Essential reading here:

http://www.amazon.co.uk/Communal-Air-Raid-Shelters-ebook/dp/B002KW46O2/ref=sr_1_2?s=books&ie=UTF8&qid=1337384998&sr=1-2

Get a grip, !!!!!!!!

pqrdef

Santander will be wishing they hadn't rebranded. The first people to draw their money out will be those who wouldn't have batted an eyelid if it were still called Abbey National.

NewCustomerOnly

Apparently Banco Santander SA's U.K. unit has lost about £200 million of its deposits last Friday afternoon cos anxious customers were worried about its financial health as a lender, according to a senior executive reported in Wall Street Journal. Yes, Spanish depositors are prevented but what about all the others? Govts no longer make fail-safe promises and anyway theres the inconvenience of your daily banking/service problems etc!

societys_child

NewCustomerOnly wrote: »

Apparently Banco Santander SA's U.K. unit has lost about £200 million of its deposits last Friday

About 1% then . . I just took more than that from my current account to pay my TV licence.

opinions4u

societys_child wrote: »

About 1% then

They have a lot more than £20bn in deposits.

societys_child

I believe the 1% refers to certain accounts at Banco Santander only.

So the 1% figure would be much less then?

Onawingandaprayer

Sauveur wrote: »

I believe it is very likely Santander UK will go bankrupt. I have withdrawn all my savings, closed my current account and set my mortgage transfer in progress. I've also cancelled my contents insurance with them as they wouldn't be able to pay out if I claimed. I'm even looking at new jobs for my friend who works at the Santander call centre.

Perhaps just a tad of an over-reaction, IMO.