Reply to: Don’t let banks lose your money – do it yourself

[DimPrawn]

Santander own Abbey, and now B&B, I'm going to have to shuffle some of my money to keep under the £35K limit. Will there be enough banks left for DimPrawn to spread his million around ?

It's getting tricky I can tell you. Damned curse being rich.

[rootsnall]

...but it isn't Santander that is guaranteeing the deposits

Santander own Abbey, and now B&B, I'm going to have to shuffle some of my money to keep under the £35K limit. Will there be enough banks left for DimPrawn to spread his million around ?

[bobhope]

Gold + silver of course.

[Stan.goodvibes]

Me too. The nationwide has all my cash. I sleep easy.

I don't have any cash. I sleep easy as well.

[NotAllThere]

I always thought it was

"If you owe the bank £5000 it's your problem. If you owe the bank £5,000,000 it's the banks problem".

I live and work in an economy that isn't driven by credit. My mortgate and most of my savings are with the Cantonal bank. So, though I've some savings with UBS. and no economy is an island, entire of itself, I'm sleeping fairly easily.

[BrilloPad]

As a wise man nearly once said:

"If you owe the bank a million dollars you're in trouble. If the bank owes you a million dollars, the bank's not in trouble."

And if you owe the bank a billion dollars they are in trouble?

[Troll]

Santander's about as good as they get at the moment.

...but it isn't Santander that is guaranteeing the deposits

[Francko]

Most of my money is on "red" in various casino´s (stock exchanges).

I know safer casinos like Lugano or Campione.

[BlasterBates]

Most of my money is on "red" in various casino´s (stock exchanges). The thing about shares is that as long as all the companies don´t go bankrupt at the same time you´re still in the game. Thankfully I was so busy buying mining and oil stocks over the last couple of years I haven´t had any left to put into financial stocks; I would steer clear of them. My investment philosophy is he who dares wins.

[thunderlizard]

Santander's about as good as they get at the moment.

[Troll]

Cater Allen guarantee

So how strong is Abbey National?

Many of you have been asking us for more details regarding the Cater Allen deposit guarantee. Ever responsive to your requests, we would like to clarify for you the main features which will answer your questions.

The Cater Allen Deposit Guarantee

* All deposits held by Cater Allen Private Banking are 100% guaranteed by Abbey National plc.

* This guarantee covers all deposits with Cater Allen including Personal and Non-Personal Banking and Savings Accounts, as well as Term Deposit Accounts.

* Cater Allen and Abbey are both part of Grupo Santander, one of the largest banks in the World. Both Abbey and Banco Santander have stable credit ratings of AA and above.

The Financial Services Compensation Scheme (FSCS) / Depositor Protection Scheme

* Abbey National plc and Cater Allen are separately authorised and registered with the FSA as having permission to carry out banking activities. Therefore a customer would be able to claim separate compensation, under the FSCS, from both Abbey and Cater Allen in relation to the total amounts deposited in accounts with each bank. Currently, the scheme protects £35,000 per person.

[thunderlizard]

As a wise man nearly once said:

"If you owe the bank a million dollars you're in trouble. If the bank owes you a million dollars, the bank's not in trouble."

[scooterscot]

I'm with Nationwide who are (a) not a PLC and hence can't be shorted/sold to death and (b) have a very conservative loans/savings ratio of something like 0.7 (HBOS is 1.7)

Me too. The nationwide has all my cash. I sleep easy.

[ChimpMaster]

No account in more than one institution and no more than £35K in one account (easier said than done if your savings are reasonable).

I think that's the problem though. I don't want to open 5 or 6 different accounts.

Mind you, I'm with Nationwide who are (a) not a PLC and hence can't be shorted/sold to death and (b) have a very conservative loans/savings ratio of something like 0.7 (HBOS is 1.7)

[cojak]

For reasons of pure FUD (and a healthy dose of idleness) all I've done with my saving is to put them into savings accounts. No account in more than one institution and no more than £35K in one account (easier said than done if your savings are reasonable).

I'm sleeping better than many colleagues at the moment...