Banks

[Starburst1]

Hi Amanda, I am in the middle of a house move and was worried about the situation in Catalonia so I split between banks.Fairly happy mow, although it is costing bank charges moving stuff around.

[Amanda Oakley]

Mattresses spring to mind !!!! Or just spend all those pennies !!!!!
:hee20hee20hee:

[Tetley]

well a few moons ago there was a program on uk banking saying that the bank gaurentee was a bit of a myth... as if a bank did go pop example uk santander.... there wouldent be enough money in the back up system to bail the punters out in full and they would only get a proportain of there funds back.


my advice spread yer risks.

[guest4538]

HI can anyone tell me what is the amount guaranteed in the bank in a normal current account in Spain? Ie if a crisis happened how much does a bank have to guarantee you? In the UK it was reduced to 75K.

You're correct. The UK FSCS compensation limit for bank and building society deposits was reduced to £75K, but that was subsequently increased to £85K on 30 January 2017. And, as has been stated, the equivalent European Deposit Guarantee Scheme covers up to 100,000€.

But in the UK, temporary high balances up to £1M are also protected. This is for temporary deposits from such things as house sales prior to purchase, or redundancy payments, or similar. I've no idea whether or not the European scheme offers an equivalent level of protection!

Finally all funds in the UK National Savings are fully protected and you can deposit more than £4M with them. I don't know whether or not there are any European national savings schemes!

[Karen4]

Don't forget that "per institution" means the "parent" company of the bank or banks. So if you keep up to €100k in each of 2 or 3 which are "owned" by the same parent bank, you will ONLY be able to claim ONE amount of €100k back and will lose the rest. If you have a lot to cover, make sure it is split into institutions which are NOT owned by the same parent bank. For example, the most recent one is the take over of Banco Popular by Santander. So if you have €100k in each of them, you will only get €100k back.
Just be careful!

[Starburst1]

Thank you

[skid_112]

Within the EU its €100,000 per institution

[Starburst1]

HI can anyone tell me what is the amount guaranteed in the bank in a normal current account in Spain? Ie if a crisis happened how much does a bank have to guarantee you? In the UK it was reduced to 75K.