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offshore account guarantee
Comments
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Miaviv - Please see these threads:
For Irish banks in IOM:
http://forums.moneysavingexpert.com/showthread.html?t=1188077
For some info on recent developments in the Isle of Man compensation scheme:
http://forums.moneysavingexpert.com/showthread.html?t=1203227
Regarding your question "surely the only guarantee you would be able to seek is that offered by the IOM government regardless of the nationality of the bank, it is the soil upon which the bank is situated surely?"
No. If the Irish Govt do decide to include subsidiaries of Irish banks based in the Isle of Man (e.g. Anglo-Irish Bank Isle of Man branch) then your savings would effectively be covered by both guarantees, including the full 100% of the Irish Govt guarantee. Of course it's not yet know if those subsidiaries will be included in the Irish scheme or not.0 -
occamsrazor wrote: »Miaviv - Please see these threads:
For Irish banks in IOM:
http://forums.moneysavingexpert.com/showthread.html?t=1188077
For some info on recent developments in the Isle of Man compensation scheme:
http://forums.moneysavingexpert.com/showthread.html?t=1203227
Regarding your question "surely the only guarantee you would be able to seek is that offered by the IOM government regardless of the nationality of the bank, it is the soil upon which the bank is situated surely?"
No. If the Irish Govt do decide to include subsidiaries of Irish banks based in the Isle of Man (e.g. Anglo-Irish Bank Isle of Man branch) then your savings would effectively be covered by both guarantees, including the full 100% of the Irish Govt guarantee. Of course it's not yet know if those subsidiaries will be included in the Irish scheme or not.
Thanks for the information in your post. I agree with your comments on the Irish Govt and subsidiaries but I'm very wary of the truth in this sort of promise, surely this would be too good to be true and I would hate to be disappointed (the word is not strong enough though ) if I had to put it to the test and was told that only the IOM compensation applied. I'm still looking for an alternative bank in which to place my money from 15th October and I'm tempted by the interest rate and this further guarantee but don't know anything else about Anglo Irish...0 -
It's tough for offshore savers for sure.... if you want to be extra safe what about Northern Rock Offshore, which is under semi-temporary ownership by the UK Govt?
http://www.northernrock-guernsey.co.gg/yourQuestionsAnswered.htm0
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