anonimouse

Well, all the talk is of Euro Zone problems and banks going under or being bailed out, I've had a few scares in the past with UK banks.

cricketman

The 100 triillion euro question!

Best idea is to keep your money in the banks rather than the Cajas. Many of the Cajas already have been rescued or "restructured". A global bank like Santander or BBVA will have a better chance of surving when the chickens come home to roost

jackytoo

Some were downgraded earlier this year but things change quickly now. I know Sabadell was recently downgraded.

http://www.bloomberg.com/news/2011-0...nder-bbva.html

snikpoh

Agreed. Santander is probably the safest or Banesto ('sister' bank of Santander).

Fredbargate

Under your mattress

busters mum

Stuffed in your knickers

steviedeluxe

The alleged "50 safest banks" are listed here. I say alleged, as we all know how reliable the ratings agencies have proven to be...

http://www.gfmag.com/tools/best-bank...#axzz1Vho5ars5

Santander's at number 10, BBVA at 17.

snikpoh

Crikey, only 3 Spanish banks listed - Santander, BBVA and Banesto!

Uk not much better either with only 3 and lower ranked.


Think the mattress gets my vote

cricketman

I think the surprising thing here is that the UK banks are actually ranked worse than the Spanish banks. Maybe time to transfer the UK savings to Spain?

jackytoo

Banks in all European countries have deposit protection. Judging how the spanish banks treat the people buying property and not paying out on spanish bank guarantees I would imagine it could be difficult to get them to cough up if a bank went bust, or it could take years to get your money. I never kept more than a cash flow in my 2 spanish banks. The Netherland banks seem pretty solid and if you move money to Spain there is no charge.

steviedeluxe

Well a lot of UK banks (and, I believe, some Spanish cajas) have already gone under (eg RBS, Northern rock) and been bailed out by the UK govt. In a sense it's probably safer to have your money in a UK bank? If it goes under - the uk govt will print money to reimburse you, even if it means the pound tanks. Spain doesn't really have this option - they have to ask for German permission?

cricketman

That depends on whether you think Britain is more solvent than the Eurozone.

There are European bank guarentees just like there are UK ones, but if the whole ship sinks you wont get anything

steviedeluxe

I really don't have an answer to that, but fear that if one goes under, the other won't be far behind as we do so much trade with one another.

Scary times.

rachelk

Will they though? Including to those who are non-resident? They might not feel they should spend tax-payers money to bail out those who now live elsewhere...

steviedeluxe

Good point, but it should surely be written down somewhere in the T&C? Given they don't pay much interest now, perhaps the mattress or gold option really is the better one? So long as it's guarded by a Doberman of course