Very worrying stop press news re Anglo Irish

cepheus

You may be right about the UK not being secure either, but I guess it would have been better if two countries share any potential shortfall especially for smaller accounts

The pound crashed again today against major currencies, on fears that national debt and bank rescues could see Britain lose its AAA credit rating...

http://www.thisismoney.co.uk/

castle96

I pulled out 6 weeks ago. £36k. Was expecting to lose 60 days interest. I wrote stating that my parents needed the money... mother's illness... housing..., etc. The funds arrived out of the blue and NO interest penalty was deducted ! An error -I can't see that they would make an error like that, but I don't know - maybe I was just lucky

melbury

I am feeling very jittery about it all and would really like to get my money out. But the T&C say it has to be an emergency and then it's only on the bank's say so.

I just don't think I can get through until November, it is really stressing me out. Ultimately it is my money, not theirs. As I have said before, it is not my fault that the rules changed and they came out of the UK scheme.

masonic

melbury wrote: »

I am feeling very jittery about it all and would really like to get my money out. But the T&C say it has to be an emergency and then it's only on the bank's say so.

I just don't think I can get through until November, it is really stressing me out. Ultimately it is my money, not theirs. As I have said before, it is not my fault that the rules changed and they came out of the UK scheme.

If I was as worried as you evidently are, I'd think up an emergency that required me to withdraw the money and try to do so. But as I've said before, the first €20,000 of your deposit was never covered under the UK scheme, despite what you've been led to believe.

FraudBuster

<H2>A wealthy Irish property developer has been found dead at his home near Dublin.

By Graham Ruddick
Last Updated: 6:08AM GMT 21 Jan 2009


Patrick Rocca, 41, was discovered with a single gunshot wound to the head. The Irish Gardai said they were satisfied that nobody else was involved.
Mr Rocca had a fortune which was put at €500m (£462.9m) in 2007 and he is thought to have completed 20 property deals in the UK worth more than €300m through his company, Accorp Properties.
According to reports in the Irish press, the father-of-three may have lost large sums of money in Anglo Irish – the Irish bank that collapsed into full nationalisation last Friday.

</H2>
http://www.telegraph.co.uk/finance/newsbysector/constructionandproperty/4300208/Irish-real-estate-tycoon-found-dead-suicide-suspected.html

debbie_cliff

I have a 5 yr fixed term deposit with anglo irish and I'm almost 1 yr through. I am very worried and don't know what to do. I am willing to take the 150 or 180 day interest rate penalty and close my account. Please help with suggestions
Many thanks

Berty

Debbie its very hard for anyone to say what you should do. Its really down to the individual and what they feel about their savings and how safe they are.
I’ve an account with Anglo and will be leaving it where it is and I personally feel happy that they have been nationalised which is like Northern Rock. To me the Irish Government have stepped in and taken action instead of letting it go.
But and a big bit I have just a one year account and will be looking at the situation at that time as the 2010 cover is still in place.
Who knows what the banking situation will be like here and there in a years time.

bendipa

melbury wrote: »

I am feeling very jittery about it all and would really like to get my money out. But the T&C say it has to be an emergency and then it's only on the bank's say so.

I just don't think I can get through until November, it is really stressing me out. Ultimately it is my money, not theirs. As I have said before, it is not my fault that the rules changed and they came out of the UK scheme.

You are worrying over little at this stage. Despite what others have suggested, ANG deposits are now fully backed by the Irish government without limit. The 2 year rule is no longer relevant. If you don't believe me, ring up ANG and they should confirm. Only if you believe the Irish government will go bust and not honour their commitments should you panic. But as I said before, Ireland has ECB backing. If the EU refused to assist Ireland, then the EU would be finished too as they could no longer be trusted to help a member state, one of the key reasons of joining the EU.

masonic

debbie_cliff wrote: »

I have a 5 yr fixed term deposit with anglo irish and I'm almost 1 yr through. I am very worried and don't know what to do. I am willing to take the 150 or 180 day interest rate penalty and close my account. Please help with suggestions
Many thanks

It comes down to a simple choice of whether you want to pay (in terms of lost interest) for greater peace of mind. If you do, then the anecdotal evidence points to Anglo releasing peoples funds without too much trouble. You may just need to be a touch creative when explaining why you need the money back.

melbury

masonic wrote: »

It comes down to a simple choice of whether you want to pay (in terms of lost interest) for greater peace of mind. If you do, then the anecdotal evidence points to Anglo releasing peoples funds without too much trouble. You may just need to be a touch creative when explaining why you need the money back.

Surely though Anglo Irish must be inundated with people trying to get their money out and using all sorts of excuses. They must know that most of these excuses are bogus.

My OH tells me that I am completely over-reacting and that the money will be fine because basically if Ireland goes bankrupt then everyone will be in big trouble.