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if you live in Spain or Italy would you remove your savings and move them elsewhere?
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Santander UK is UK regulated and prevented by the authorities from transferring large chunks of capital to Spain to shore up its parent...however in the hours before the Lehmans collapse billions were transfered from the London operation to the US. this probably broke lots of rules, however once it has happened the regulator can go whistle if they think they can reverse the transaction.
Santander appears to be actively shrinking its asset base. Thereby freeing up capital to repatriate home.
Precisely the reason ING closed its leasing business in the UK and sold its mortgage book to Barclays. Banks are going home.0 -
Thrugelmir wrote: »Santander appears to be actively shrinking its asset base. Thereby freeing up capital to repatriate home.
Precisely the reason ING closed its leasing business in the UK and sold its mortgage book to Barclays. Banks are going home.
Still seem to be aggressive in their deposit taking. even gambling on McIlroy (again)."If you act like an illiterate man, your learning will never stop... Being uneducated, you have no fear of the future.".....
"big business is parasitic, like a mosquito, whereas I prefer the lighter touch, like that of a butterfly. "A butterfly can suck honey from the flower without damaging it," "Arunachalam Muruganantham0 -
grizzly1911 wrote: »Still seem to be aggressive in their deposit taking.
Strengthens their capital position as well. Pincer movement.
Aim is to reduce consumer lending (mortgages) and target business.
Business lending offers better margins and requires lower capital levels.0 -
As ever the socially responsible course being suggested by the white nag!:)The_White_Horse wrote: »why don't the UK banks offer to take in all the deposits from our Eurozone friends. Transfer it over. make our banks safer, and f**k the Eur at the same time. Win win.0 -
We had money in the Cam bank in Spain. Last year they were taken over by Sabadel. We tried to withdraw our savings and we were told we had to buy shares. Was this legal. We have lost a fortune.0
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The_White_Horse wrote: »I would.
I really think the EU has gone too far this time. Stealing from the citizens is a crazy act of desperation and shows that the EU is in a death spiral.
Our referendum should be brought forward, before it is too late.
We did.
The last year we lived in Spain, up until December 2011, we removed money from our Spanish bank account and kept just enough in it to pay the Direct Debits. The rest we kept either in UK bank accounts, or inside the Spanish house.
When we sold the house, the money never touched our Spanish Bank account. It was transferred from the solicitor's Client Account to our Co-op Bank in the UK.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0 -
seven-day-weekend wrote: »
When we sold the house, the money never touched our Spanish Bank account. It was transferred from the solicitor's Client Account to our Co-op Bank in the UK.
Hope you declared and paid any taxes. As the Spanish authorities are investigating property transactions.0 -
https://forums.moneysavingexpert.com/discussion/4514195
I think folk across Europe are watching with interest (sorry no pun intended) at the situation.I am responsible me, myself and I alone I am not the keeper others thoughts and words.0 -
Thrugelmir wrote: »Hope you declared and paid any taxes. As the Spanish authorities are investigating property transactions.
We paid all taxes that we were liable for. As we were tax resident in Spain there were some we did not have to pay that non-residents do. The solicitor sorted it all out for us and paid the money out of the balance in the client account before it reached us . He told us beforehand how much each tax was going to be and sent us an itemised invoice.(AKA HRH_MUngo)
Member #10 of £2 savers club
Imagine someone holding forth on biology whose only knowledge of the subject is the Book of British Birds, and you have a rough idea of what it feels like to read Richard Dawkins on theology: Terry Eagleton0
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