Banks and Building Societies

[NE5]

sorry if this is the wrong section.

Do people having savings etc in Santandar/Abbey Nat ?

I have a few quid in here, and have used it since it was Abbey National, but now that it is a Spanish Bank would people move money from here into a building society ?

It's not a lot, a few grand, but i've had this in an ISA, ex Tessa, and am thinking of moving it in case I lose it. It would impact me if I lost it I can't really afford to lose it now.

 

[Zogger]

Are you worried because it's a Spanish bank and you think Spain's economy puts it in danger, or are you worried that the savings aren't protected by the government?

If the latter, you are still guaranteed the money up to £85,000 in Santander by the FSCS, but no clue how long it would take to pay out if it was ever needed

http://www.moneysavingexpert.com/savings/safe-savings

edit: should supposedly be automatic and within 20 days according to the above

 

[NE5]

thanks, was just thinking about the Spanish economy and the repercussions of anything that may happen

 

[Efour]

Daily Mail anyone?

 

[[TW]Fox]

thanks, was just thinking about the Spanish economy and the repercussions of anything that may happen

Santander UK is a subsiduary of Santander itself - they are prevented from taking money out of it to shore up the business elsewhere. It's run as a seperate company so there is nothing to worry about.

 

[NE5]

thank you