Are your savings at risk?

Good news for British savers in troubled Spanish bank Santander. Tim Bennett rounds up this week’s personal finance news.

Three years ago Spanish banks were seen as a safe haven, says Emma Simon in The Daily Telegraph. Now that the country's third biggest bank (Bankia) has had to be bailed out, that view has changed. So what should nervous savers do?

For British customers of Spanish-owned Santander, the good news is your money should be covered by the Financial Services Compensation Scheme (FSCS) for up to £85,000 should that bank hit trouble. That's because, according to Santander, its British operation is ring-fenced from its Spanish parent.

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Tim graduated with a history degree from Cambridge University in 1989 and, after a year of travelling, joined the financial services firm Ernst and Young in 1990, qualifying as a chartered accountant in 1994.

He then moved into financial markets training, designing and running a variety of courses at graduate level and beyond for a range of organisations including the Securities and Investment Institute and UBS. He joined MoneyWeek in 2007.