ROYAL BANK OF SCOTLAND WARNING

Nightglow said:
Yes, but being associated with Santander, has had a knock on effect.
Every one has started with drawing money from rbs.

Same thing happen with Northern Rock, don't forget the Icelandic financial crisis.

I just used the Daily Mail as it was first one up when I googled, my bank manager warned me on Wednesday & again today to avoid the RBS for a account.
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Even on its knees it would take some run to bring RBS down, its reach into business property and the retail market is rather extensive.

This is nothing like Northern Rock.

Dangerous talk cost lives and all that. There is no basis to this at all, your bank manager is a fool or is clearly acting on his vested interests.

PS: I have several RBS finanical products ranging from Mortgage Credit Cards and Current accounts with misc. insurances. I certainly am not running scared due to this. I was given a small portfolio of shares as well, although I think that's a bit more of a long term game.
 
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Oh dear.

Even if everyone else is withdrawing their money, unless you have more than 85k invested in one particular banking group, then there's no reason to do anything.

Yes this might not be good news for RBS, or any other banks, but it's no reason for the average punter to panic.

People like the OP need to stop scaremongering until they actually understand what they're talking about.
 
desires said:
You do realize if the FSCS had to bail out a entire bank's customers the money would seriously reduce in its value.
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And you realise that if that happened, then it'd make no difference if you took your cash out of the bank slightly earlier, or got it from the FSCS afterwards.

If one of the global banks was to collapse to such an extent that the FSCS did have to start paying out vast quantities of guaranteed money, then we'd all be screwed, whether we had our money invested in the collapsed bank, in a different bank, or hidden away under the mattress.
 
NEWSFLASH

ALL banks are corrupt (or are owned by larger corrupt banks).

ALL "money" is fiat.

Precious metals are the only store of wealth.

EVERYONE with money in the bank/mortgage (death-grip) etc is going to lose atleast 80% of it.
 
div0 said:
And you realise that if that happened, then it'd make no difference if you took your cash out of the bank slightly earlier, or got it from the FSCS afterwards.

If one of the global banks was to collapse to such an extent that the FSCS did have to start paying out vast quantities of guaranteed money, then we'd all be screwed, whether we had our money invested in the collapsed bank, in a different bank, or hidden away under the mattress.
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Duh no ****. That was my point that if you honestly think a bank is not equipped to look after your money then you should be building a bunker not changing banks.
 
desires said:
Duh no ****. That was my point that if you honestly think a bank is not equipped to look after your money then you should be building a bunker not changing banks.
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Sorry, thought you were making quite a different point. But I get you now.

Time for me to open another beer and stop posting I think.
 
Nightglow said:
Any one got a RBS account, as most of you know Santander took over around 300 RBS branches, & customers got a letter explaining this.

With the Spanish banks being down graded, seriously consider looking for another bank account, my local HSBC, has had a run on customers changing accounts.
Even though I don't have a RBS account, my bank manager warned me to expect things are only going to get worse in the coming weeks with the RBS & Santander.

http://www.dailymail.co.uk/news/art...ers-credit-rating-blow.html?ito=feeds-newsxml
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You don't let facts get in the way of a good panic do you?
 
Is it something to worry about? What could happen. I'm with one of those banks! :/

'Santander is still one of the biggest and strongest banks in the world. It's very unlikely that the UK arm of Santander would get into trouble but nothing's impossible in these circumstances. On the balance of risk it's unlikely to happen.
'Assuming that the ring fencing claims being made by Santander are correct, the only major concern is a large number of irrational people withdrawing their money.'
 
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kh85 said:
Is it something to worry about? What could happen. I'm with one of those banks! :/
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Nothing, the British Santander is a different entity to the Spanish one as far as I am aware. There is no new threat to RBS or any other bank really certainly in terms of any runs.

You could be concerned about a lot in the wider picture at the moment, but these two banks are not an issue.

Euro meltdown may be..
 
kh85 said:
Hope not, but like it says, if loads of people start panicking and taking all there money out, it could go belly up i guess lol:confused::confused:
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Deposits are guaranteed to certain levels to stop that from happening, RBS is too big to fail and so is Santander. It's the latter that is in higher risk, Spanish property bubble has shafted it worse than the Irish one did with RBS. Again I don't think you could get enough people to 'run' on RBS to make a difference, its market share is massive. Neither are the accounts comprised of the same factors behind the scenes such as NR.

That won't effect you directly here with either, perhaps indirectly but that's another matter and being an fool and emptying your account on this spurious basis is not a nescessity. It's inherrently dangerous when people start spooking people for little reason. It's caused events before.

There is little to say really, it's nothing out of the norm at the moment?

Talk of runs on banks is just silly at the moment.
 
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