'How safe Is Santander UK? - What I really think' blog discussion

Purple67

I have a opted to take out one of Santanders fixed investment schemes whose performance is linked to the FTSE 100. I realised that this product is not protected by the FSCS since it is managed by the parent company in Spain. Any comments about whether such products are a good idea right now?

verntern

ex-dmp wrote: »

I don't believe what governments and so called experts anymore after the last bank financial fiasco. Nobody has a scooby as to what would happen after a bad eurozone breakup if it were to happen.

Reduced my exposure to Santander long ago.

Sensible, forthright comment. I have transferred my ISA out of Santander UK. We know parent company is Santander Spain. Inevitable that eventually Santander Spain will seek ways to prop up their sinking foundations by plundering savings and investments via the back door of Santander UK. Relieved to be out.

chriskn

I am a long standing customer of RBS (over 40 years) and am now being told I must transfer to Santander. I am not going to, but am having trouble finding a similar current account / deposit account arrangement that I have enjoyed for more years than I can remember. It is simply a deposit account that pays a modest interest rate, that is linked to the current account such that the balance in the current account is always maintained at around £300, with movements between the two accounts happening automatically overnight. The current account has an overdraft facility (free) of £1,000, so any payment that goes in up to £1,300 is processed without charge, and the necessary adjustment from the deposit account is made overnight. I pay no bank charges for this service and it works well for me.
Does anyone know any other bank offering this sort of facility? I guess one alternative I have is to transfer my account to a Scottish branch of RBS.