Santander Safety

[DeludedAussie]

Just saw this thread

Santander - Risk Of Defaulting - House Price Crash forum

Is anyone here moving their cash to their banks? I think the euro problems could be quite serious

Thoughts welcome!

[Darksider]

I don't think it's a matter of IF Greece come away from the Euro, it's more a case of WHEN.

Problem is, they'll be cutting off their own nose to spite their face. Short term fixes to their issues aren't possible.

[Waldorf]

Just saw this thread

Santander - Risk Of Defaulting - House Price Crash forum

Is anyone here moving their cash to their banks? I think the euro problems could be quite serious

Thoughts welcome!

Deposits are covered upto £85000 - so that should cover most people.

Anyone with more could set up separate accounts with different banks but I cannot see that the government will allow a large bank to fail.

[BrilloPad]

Just saw this thread

Santander - Risk Of Defaulting - House Price Crash forum

Is anyone here moving their cash to their banks? I think the euro problems could be quite serious

Thoughts welcome!

If you have money in the UK arm you will be fine.

[ChimpMaster]

If you have money in the UK arm you will be fine.

Contractors could quite feasibly have several hundred thousand £ in their company account (including allowances for all taxation etc). Coverage up to £85k is not much of a consolation in that case.

[norrahe]

Contractors could quite feasibly have several hundred thousand £ in their company account (including allowances for all taxation etc). Coverage up to £85k is not much of a consolation in that case.

Exactly, IIRC aren't Cater Allen owned by Santander?

[SimonMac]

Contractors could quite feasibly have several hundred thousand £ in their company account (including allowances for all taxation etc). Coverage up to £85k is not much of a consolation in that case.

Everything I have read is that the £85k is per PERSON, remember the LtdCo's money is not yours so am not sure if companies are covered too

[Lewis]

Everything I have read is that the £85k is per PERSON, remember the LtdCo's money is not yours so am not sure if companies are covered too

Yes they are, as long as they are 'small' businesses' (there is a definition of this, but vast majority of contractors will be)

[Barley]

Exactly, IIRC aren't Cater Allen owned by Santander?

Yes Cater Allen are owned by Santander, id imagine theyre a subsiduary of Santander UK as they were part of the Abbey Group when the takeover took place in 2005? Cahoot are also part of Santander, as is Alliance & Leicester, though I believe the later is rebranded as Santander?

[Nixon Williams]

Yes they are, as long as they are 'small' businesses' (there is a definition of this, but vast majority of contractors will be)

Certainly most contractor's limited company accounts would be covered by the scheme.

This is what Cater Allen has to say:

Cater Allen Security - Cater Allen