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Hi there,
I have a Spanish bank account with Banca March and receive excellent service and free banking all round. However with the current financial situation in the UK I am wondering about the safety of Spanish banks.
In the UK cash up to a certain amount ( I think its now 50 grand ) is covered if the bank should fold but does any one know the situation in Spain ? Is there anything put in place to safeguard customers and investors ? 
all the best,
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Gilly & Ralph
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I thought is was £35,000 in the UK and for each bank, but one must bear in mind that banks might be owned by the same company, therefore, the £35k is only guaranteed once. Don't know what the situation is in Spain.
Irene
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50 grand (in the UK) as of Tuesday 7th October it is, Irene.
READ GUARDIAN
This message was last edited by morerosado on 10/3/2008.
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Maria stated in a thread earlier this week (I think) that funds up to €20,000 are covered in Spanish banks.
Mark
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Thanks all, this web site is a life line as usual ! 
Gilly
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Gilly & Ralph
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20,000€ is not much though, is it ? 
(We have the grand sum, currently, of 780€ in Halifax ES.  )
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We've been discussing this topic here.
It may be worthwhile mentioning at this point that offshore banks are NOT covered by any EU deposit guarantee schemes (since their not in the EU!)
Isle of Man currently guarantees 75% of deposits up to £20,000 (i.e. max £15k)
Gibraltar: 90% of deposits, or £18K (whichever is less!)
Channel Isles: sweet F.A.
You have been warned!
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"Get your facts first, then you can distort them as you please"
Mark Twain
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Thank you Roberto and Maria,
Clearly I must be blind to have missed all that previous chit chat. 
Its all really helpful particularly the idea of distributing funds between banks that are not linked in any way.
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Gilly & Ralph
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