Irish Banks Safety

Gwhiz

How safe would you say Anglo Irish/Bank of Ireland are? We know they are 100% guaranteed by the Irish Govt but how comfortable would you be making a large deposit?

fishpond

If you want your money back in potatoes, then go for it.
I haven't got any money invested in Ireland it is in India, I cannot see how Ireland could bail the banks out if the sxxx really hit the fan.
I am sorry but thats the way I see it--Then again, can the banking problems get any worse or is it all stabilising as various governments take over?

Polka_dot_4

Having had my fingers burnt with Icesave, I am trying to work out what the Irish Government guarantee means if I were to transfer an Isa into a Post Office Isa?

From what I can make out, the guarantee is only until 2010 - so what happens then?

Reaper

On the one hand the Irish government is now liable for 500 billion euros (£398 billion) for those guarantees alone. That's a lot and I wonder how many banks would have to fail before it got abruptly withdrawn.

On the other hand the promise has brought savers money flooding in which means they are more secure and less likely to have to pay out. That fact annoyed the UK and others in Europe since they weren't meant to be acting unilaterally and tempting money away from other European countries.

Which hand wins? I don't know. I've got both mine behind my back with my fingers crossed.

innovate

Gwhiz wrote: »

How safe would you say Anglo Irish/Bank of Ireland are? We know they are 100% guaranteed by the Irish Govt but how comfortable would you be making a large deposit?

Not sure this applies to non-Irish nationals. I seem to remember reading somewhere in the last few days that if you, as a UK national, put your money into an irish bank it is protected by a passport scheme that guarantees up to 100K euros. Might be wrong though, read so much, happy to be corrected by someone who has the facts.

Gwhiz

innovate wrote: »

Not sure this applies to non-Irish nationals. I seem to remember reading somewhere in the last few days that if you, as a UK national, put your money into an irish bank it is protected by a passport scheme that guarantees up to 100K euros. Might be wrong though, read so much, happy to be corrected by someone who has the facts.

The passport scheme offers 100% guarantee on Irish Banks for UK nationals.

Polka_dot_4

innovate wrote: »

Not sure this applies to non-Irish nationals. I seem to remember reading somewhere in the last few days that if you, as a UK national, put your money into an irish bank it is protected by a passport scheme that guarantees up to 100K euros. Might be wrong though, read so much, happy to be corrected by someone who has the facts.

This is what worries me as Icesave also had the passport scheme. That coupled with the guarantee only until 2010 is making me a bit wary of depositing any money into an Irish affiliated bank - which all Post Office savings are

going2die_rich

fishpond wrote: »

I haven't got any money invested in Ireland it is in India,

If an Indian bank went under, you wouldn't see a penny as the government their wouldn't spend millions of pounds to even try and save it.