Santander Safety

[yasockie]

You can sell gold quite easily w/o a certificate - I did that when it was sky high recently.
The problem is the margins of course - given the difference in buying and selling price I barely made a profit so you need to know that you can keep it as gold for a long time.

[sharclar]

I actually had this thought a few weeks ago.

Me and my partner set up one of their new 123 accounts and the rules for the account stipulate you pay a certain amount into the account. To be on the safe side we put in quite a lot above that amount.

In all honesty given the current situation I don't feel like continuing with the account at all, the savings we would make from cash back were only small, and not quite worth the risk.

[Eagle]

NatWest are moving all their online business accounts to Santander and I'm not best pleased.

[SueEllen]

NatWest are moving all their online business accounts to Santander and I'm not best pleased.

Ah that's the fall out of the RBS sale.

Due to Natwest being owned by RBS, and being a monopoly with government money they have to sell of a certain number of bank branches and their associated accounts to a private group.

Unfortunately that group is Santander.

Personal customers have either:
1. Done nothing and move,
2. Closed their accounts,
3. Found the one of the Scottish branch of the bank in the London or found a branch in Scotland to move their account to.

So I suppose as a business you had the same choice. Now you are best of finding another bank and moving your affairs.

[escapeUK]

So I suppose as a business you had the same choice. Now you are best of finding another bank and moving your affairs.

No, you just do what I am doing. Pop into your local Natwest branch tell them how you really dont want to move to those Spanish shysters and they open you a new account and transfer all your standings orders over.

[d000hg]

Due to Natwest being owned by RBS, and being a monopoly with government money

What exactly is it NatWest have a monopoly on?

[escapeUK]

What exactly is it NatWest have a monopoly on?

Monopoly money?

[Eagle]

The biggest ball-ache is not (eventually) being able to admin all my accounts in one place. Might as well just move all my accounts to Santander...

[sbakoola]

All this 85K "protection" twaddle really only applies to the small operators.

If one of the big 5 were to implode, they would probably take the other 4 with them. Where would all these 85K's come from. Even Merv couldn't print the cash fast enough.

It's a bit like getting "humongous meteor insurance". Even if you could buy it - it would be worthless because any such strike would bankrupt the insurance company anyway.

I couldn't agree more and even by some miracle you could get all that money out in cash and store it in your home it would be worthless because if one of the big 4 go bust now in the UK .. the financial system will break down, money will become worthless and it will be Snake Plissken time.

[petergriffin]

I couldn't agree more and even by some miracle you could get all that money out in cash and store it in your home it would be worthless because if one of the big 4 go bust now in the UK .. the financial system will break down, money will become worthless and it will be Snake Plissken time.

This is why in case of fiat currency collapse the only thing that you will be able to exchange is the hard metal that you will have stored in your safe.