Bank Run on Santander UK?

[rynnor]

As we know they were downgraded earlier today along with other Spanish banks - despite re-assurances it appears there is a flight of capital away from the bank - in particular Local Authorities are removing their funds fearing another Icesave scenario where they lose millions.

It remains to be seen if individual customers will also join in...

In theory its a seperate company from the Spanish chunk but they are shareholders in Santander UK - hopefully the FSA is keeping a vigilant eye on the bank.

 

[Wij]

Wtf - fear of panic causing panic = problem that wouldn't have occurred otherwise :/

 

[Raven]

"Meh"

 

[rynnor]

Wtf - fear of panic causing panic = problem that wouldn't have occurred otherwise :/

People react to changes in perceived risk - this was triggered by the downgrade not by people talking about it.

 

[Chilly]

Doesnt matter to almost anyone with an account - the government will cover it if they go titsup. Councils shouldnt have all their money in one bank/asset class anyway.

 

[Poag]

They are HQ'd in spain, thus got dragged down with the rest. Sadly they were in a fairly good position in the UK/Rest of EU aside Spain but probably wont be anymore due to the effects of the above.

Yay herd mentality.

 

[rynnor]

Councils shouldnt have all their money in one bank/asset class anyway.

They got burned on Icesave and now they are properly cautious.

 

[Raven]

I think I am turning into Scouse.

I would quite like to see a complete collapse of the financial sector.

 

[cHodAX]

Rightly so, our councils lost billions to the Icelandic banks and we are all still paying for it now with higher council tax rates and less services. Sadly it seems all the money is going into German banks and bonds, we all become even more heavily tied to German economic power.

 

[cHodAX]

I think I am turning into Scouse.

I would quite like to see a complete collapse of the financial sector.

Don't say that bud, if it happens then the great depression will look like a picnic, it won't be hundreds queuing at soup kitchens but tens of thousands in every city. Massive changes need to happen but our economy is so heavily tied to financial services right now that we would sink faster than just about anyone else in Europe.

 

[pez]

I work for a bank and if I were to jump ship to Santander they would almost double my salary. That told me everything I needed to know about Santander. If you got less than £50k savings/investments it doesn't really matter but if I had more than that or were running a business I would stay well shot of Santander.

 

[Tom]

My business account is with santander (formerly a&l). Not from Monday though, I'm switching. They're a shit bank anyway.

 

[rynnor]

The problem with Santander is that they acquired lots of different UK institutions. Each of these would have had their own banking licenses but now they are all under Santanders and the 85k limit is per banking license not per bank which could be an issue for some.

 

[Job]

Seriously made up, they are fuckin twat of a bank, with them for 15 years and I wouldn't piss on a branch if it was on fire, utter, utter cunts.

 

[cHodAX]

It's a shame they took Abbey National over, they were a good organisation a decade or two back.

 

[Job]

The arsewipes are following me, now they're taking over my new bank RBS, hopefully they might pull the plug on that now.

 

[Mey]

You can have this knobber back if you want;

My shares closed at 25p today! TWENTY FIVE PENCE! A stamp is worth more.

 

[old.user4556]

The bank stocks are at the mercy of every piece of bad financial news.

 

[Wij]

*not comment*

 

[rynnor]

My shares closed at 25p today! TWENTY FIVE PENCE! A stamp is worth more.

RBS closed 19.9p.

Oh and customers of Santander took out 200 million today.

http://online.wsj.com/article/SB10001424052702303360504577412341713215970.html

 

[old.user4556]

*not comment*

I like to stroke my chin and look back to a time when my ex girlfriend's arsehole dad said to me "you're an idiot if you don't pile your bonus money into the share scheme".

Oh, is that so? Tell me, how much money did you make on it then? Oh you lost it all?

Ah.

I spent all mine and enjoyed it at the time.

*smug mode*

 

[cHodAX]

I would 'like' 'agree' and funny that if I could!

 

[Chilly]

I wish I was a multi bazillionaire. I'd start my own bank and provide four services:
free current account - pays no interest, free to operate, deposits are held 100% in cash or cash equivalents
savings accounts - pays interest at a reasonable rate so as to leave you roughly equal with inflation. deposits are lent out via the following two products...
mortgages - basic mortgage, couple of points above BOE rate. fuck the rest, it's all wank.
loans - personal and business

I'd keep a slice to keep me in hookers and coke and return the rest as interest and to pay for the free current account service. no credit cards. sweet online banking service. probably very few branches. no one needs branches any more.

 

[Job]

Well I put 50 quid a month in the BT share scheme for 5 years and sold them for 15 grand..those were the days, we thought they'd never end.

 

[TdC]

I'd buy shares in the Chillybank!

 

[cHodAX]

You can't, he is the sole owner! :-p

 

[TdC]

booo! I wanted the papers to headline

"Teedlecorp pumps millions into Chillybank"

 

[cHodAX]

booo! I wanted the papers to headline

"Teedlecorp pumps millions into Chillybank"

Millions of tadpoles?

 

[TdC]

well, they're the only thing I have millions of

 

[Roo Stercogburn]

Shares are not savings. Only muppets think they are.