Santander-Am I a fool busting the FSCS limit with this bank?

ChiefGrasscutter

Sam_J12 wrote: »

And remember that nobody has ever lost money deposited in a UK bank due to a bank failing. Ever.

Did you bother to read previous posts in this thread?
You are wrong
See my post No 14 on page 1 re the saga of the Southsea mortgage/savings company in 2011.
To repeat:
Those with more than the then limit of 85K in this bank only got their 85K back and the rest was 'lost' when it went bust.

In fact it was even remarked at the time the by NOT bailing them out 100% the government was sending a very clear message for the future.

Eco_Miser

Sam_J12 wrote: »

And remember that nobody has ever lost money deposited in a UK bank due to a bank failing. Ever.

I don't think that's correct. here's an example from 1866

grey_gym_sock

but apart from depositors in the southsea mortgage & savings company, and depositors in overend, gurney & comany, who has ever lost money deposited in a UK bank?

Sam_J12

Eco_Miser wrote: »

I don't think that's correct. here's an example from 1866

Nice find! Although it was not clear from that wiki page that any depositors lost their cash. I got my information from a paper in 2010 that made the claim - can't recall which paper but could look it up if you really are interested. Perhaps they got it wrong?

Eco_Miser

There was no FSCS in those days. Following links from that page shows that that collapse was instrumental in enfranchising working class men. I don't think that would have happened if the only losers were the shareholders.

Perhaps your source's source said no UK bank depositors had lost money since some particular date?

bigadaj

grey_gym_sock wrote: »

but apart from depositors in the southsea mortgage & savings company, and depositors in overend, gurney & comany, who has ever lost money deposited in a UK bank?

The Romans, or is that the Jews?

smjxm09

If you haven't got Club Lloyds @4% you should look into that. Easy to get 2 DDs to 2 Tesco accounts.

BOS 3% does not need any DDs.

Also as said, Monthly Savers @ 6%. 5%, and 4%.

Yes got the Club Lloyds Tesco's and BOS but who is doing the 4% 5% and 6% monthly savers?

Nick_C

smjxm09 wrote: »

Yes got the Club Lloyds Tesco's and BOS but who is doing the 4% 5% and 6% monthly savers?

https://forums.moneysavingexpert.com/discussion/608697