Got an account with this lot as they sounded trustworth and have several local branches but now the f...ing government / EU have made them sell out to the Spanish. There is no way on earth my money is going out of the UK so who should I bank with now?
Cause tramps like us, baby we were born to run
Post Office or Coop.
Having said that RBS isn't going to the Spanish as far as I know. They are just offloading some branches, so your RBS account will remain with it's current shareholders, which is currently 80%+ the UK Govt.
I must admit I though the accounts were moving with the branches.
I'm a bit concerned with the inroads Santander in particular are making on our financial institutions. What do we actually do in Britain anymore?
Cause tramps like us, baby we were born to run
If you want to know what Britain used to do, read 'Hops and Glory' by Pete Brown. Apart from the story of taking a barrel of India Pale Ale to India by boat, it also tells the tale of the East India Company and how we came to control large parts of the world, and it's associated trade. Some of what we got up to several hundred years ago using what was effectively the worlds first global corporation is alarmingly similar to what everyone else is doing to us now.Originally Posted by bigfella
As far as I know the RBS accounts held at English branches will become Santander accounts, your options are -
1) Move the account to a Scottish branch which won't be sold on
2) Open a Nat West account, which is part of the RBS Group i.e. 80% government owned
Isn't it largely irrelevant? Most of the actual value that this money represents isn't in the UK. It's probably in China. We're just being handed IOUs. I don't see train-loads of gold going to Spain on the back of this deal.
Didn't the government tighten up the finances of British banks following the Northern Rock fiasco and do Spanish banks trading in the UK offer the same guarantees (whatever they may be)>
Cause tramps like us, baby we were born to run
Just because a bank is foreign owned doesn't mean that is can operate as it would in that foreign country. It is still bound by the FSA rules and regs, has the required capital reserves held at the Bank Of England and your deposits are guaranteed by the government (up to 50,000) should Santander decide to spend all of your money on hookers and blackjack!
http://www.moneysavingexpert.com/savings/safe-savings
I wish I had enough money to care about which bank I saved with lol :-)
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HSBC. No.1 firm by market capitalisation on the FTSE 100 and unlikely to be bought out by anyone in the near future.
Banks are global operations though; your money will be flowing into all countries all over the world no matter who you bank with.
Hong Kong and Shanghai Banking Company - a great British company.
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