savings in a Spanish bank

Juneb_3
Juneb_3 Posts: 1 Newbie
in Savings & investments
I currently have my savings in a spanish bank. Is this a good idea in the present climate or is it best to have a UK savings account?
If the Spanish bank collapses is my savings covered like the UK arrangements up to £85k?

Comments

  • StevieJ
    StevieJ Posts: 20,174 Forumite
    First Anniversary First Post Combo Breaker
    Depends if those savings are in Spain ;)
    'Just think for a moment what a prospect that is. A single market without barriers visible or invisible giving you direct and unhindered access to the purchasing power of over 300 million of the worlds wealthiest and most prosperous people' Margaret Thatcher
  • Reaper
    Reaper Posts: 7,279 Forumite
    First Anniversary First Post Photogenic
    Assuming you mean they are in Spain you will be covered be the Spanish scheme up to 100,000 Euros.
  • sabretoothtigger
    sabretoothtigger Posts: 10,035 Forumite
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    edited 31 May 2012 at 2:49PM
    The main problem would be the exchange rate I guess

    D6lNz.png

    Euro was rising for a long time but not for a few years now
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