Anglo Irish Bank

CJ23

Martin says Anglo Irish are not covered under the UK FS Compensation Scheme but they are listed in his ' What counts as a bank ' table , also Anglo Irish state on their website in the FAQ that they subscribe to both the UK and the Irish scheme . Can anyone explain this !.

Reaper

First I have to confess to being somewhat confused by this myself, so here goes what I think the position is.

European banks only need to be covered by their home schemes, though they can opt to "top up" to £50,000 with the FSCS if their home scheme provides less than that.

As the Irish government offer more than that for Anglo Irish savers the fact they have actually topped up under the FSCS scheme is irrelevent, particularly as the FSCS says it is only responsible for the top up, not the bit the foreign government should be paying out.

So I think you are not covered at all by the FSCS, but somebody may be along soon to correct me.