Santander - Next bank in line for mass withdrawals of savings?
Discussion
0000 said:
Thanks but doesnt work for me, managed to get through via a google abbey national link!
k. I'm due a bonus next week (less than £85k) and my old A&L account is now with Santander. I'm going to go have a chat with the boss and see if he'll send it to the wife's Lloyds TSB account to avoid any hassle...dxg said:
I've read this "The Financial Services Compensation Scheme does not apply to non UK banks" in the small print of an ING account - does it mean anyone with Santander is very exposed?
From ING websiteKey points about ING Direct in the UK
Over 1 million customers in the UK
Award winning UK based call centres. For more information click here
Safe and secure online banking with ING Direct.
We offer great Savings, award winning Mortgages and common sense Home Insurance products
UK based with our head offices in Reading and Cardiff
ING Direct is:
Authorised and regulated by De Nederlandsche Bank (the Dutch Central Bank) and subject to limited regulation by the Financial Services Authority. Details on the extent of our regulation by the Financial Services Authority are available from us on request.
ING Direct is a limited liability company incorporated in The Netherlands. Registered in England and Wales at Companies House: Branch reference number: BR7357
We support the Financial Services Authority's 'Moneymadeclear' initiative. For more information visit The Financial Services Authority Money Advice Service
We are covered by the Dutch Deposit Guarantee Scheme.
As someone who reads the Mail ...don't laugh
...their financial guy Tony Hetherington is really good, and has been warning about Santander for years!
it started with this...
http://www.thisismoney.co.uk/money/experts/article...
here is more recent stuff
http://www.thisismoney.co.uk/money/saving/article-...
Bank with Santander, only if you're a mug. Problem is most didn't get a choice. They (Santander) even got in with the store cards, for example, like the Debenhams store card - my wife had one, then it quietly was taken by Santander... when I read the small print it was dumped ...immediately!
I'd be pulling my cash out now, but I (luckily) don't have any with them.
...their financial guy Tony Hetherington is really good, and has been warning about Santander for years!
it started with this...
http://www.thisismoney.co.uk/money/experts/article...
here is more recent stuff
http://www.thisismoney.co.uk/money/saving/article-...
Bank with Santander, only if you're a mug. Problem is most didn't get a choice. They (Santander) even got in with the store cards, for example, like the Debenhams store card - my wife had one, then it quietly was taken by Santander... when I read the small print it was dumped ...immediately!
I'd be pulling my cash out now, but I (luckily) don't have any with them.
FSCS said:
Can you compensate firms as well as people?
As an indicative guide only, for the purposes of deposit and investment claims, smaller companies are protected. A smaller company must meet two of the following criteria (as set out in section 247 of the Companies Act 1985 or section 382 of the Companies Act 2006 as applicable):
Turnover: not more than £6.5 million
Balance sheet total: not more than £3.26 million
Total number of employees: not more than 50
Phew. Just made it under the threshold. As an indicative guide only, for the purposes of deposit and investment claims, smaller companies are protected. A smaller company must meet two of the following criteria (as set out in section 247 of the Companies Act 1985 or section 382 of the Companies Act 2006 as applicable):
Turnover: not more than £6.5 million
Balance sheet total: not more than £3.26 million
Total number of employees: not more than 50
http://www.fscs.org.uk/what-we-cover/questions-and...
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