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Martin Bonner wrote
On Saturday, 12 May 2012 22:47:59 UTC+1, Rod Speed wrote:
PeterC wrote
harryagain wrote

I wonder how safe your money is in Santander these days?

AIUI Santander in UK is (financially) separate from Santander in Spain.

Fraid not
http://en.wikipedia.org/wiki/Santander_UK

That doesn't seem (to me) to support your "Fraid not" comment.
Santander UK is a separate legal entity from Santander in Spain. If
Santander in Spain goes bust, that doesn't mean that all the money in
the UK can be siphoned out to pay for the losses (well, not without
Directors facing fraud charges and probable jail terms).


There was an item on the radio yesterday about a council pulling all its
money out of Santander because it didn't want to be caught again with a
defaulting foreign bank. One of the chief executives of the bank was
interviewed and asked if UK deposits were ring fenced. He squired and
gave a typical politicians answer (the answer was yes but with a few
caveats)
--
Alan
news2009 {at} admac {dot} myzen {dot} co {dot} uk