MSE News: Post Office savers to get full UK protection

soulsaver

carrottsforlunch wrote: »

Im exactly the opposite , have just sold my house and have £65k to put away , would anyone recommend i put the lot in this Post office account , also looking at the Derbyshire at slightly less interest but did`nt really want to open multiple accounts if i can help it . regards

Not really much risk with the Irish thing IMHO and FSCS compensation must be paid in a week from default from Jan 1, new rules;but if you cant sleep consider:
The Nationwide has a 2.99% but has withdrawal restrictions, one w/d no penalty then restrictions which I cant remember, check 'em out to see if they suit you.
And 2.8% with a Halifax savings ac if you have (or open) a current account ( that could earn £5 pm net by cycling £1000 through monthly). Again one pen free w/d, then restrictions which I think are 30day interest lost on the next amounts withdrawn. May not be onerous depending on your plans ie if you only plan to make 1 w/d to buy next house then no problem.

soulsaver

Lokolo wrote: »

Are you sure?

Both right I think - in the event UK FSCS doesn't cover full deposit then Irish depositor scheme or Irish Govt scheme kicks in ie say for funds over £50k. Or if the Irish schemes all fail then FSCS to £50k.
Either way the AIB has always been covered by the UK FSCS.
http://www.telegraph.co.uk/finance/personalfinance/savings/8135756/Exactly-how-safe-are-your-Irish-savings.html

Rubbish layout includes AIB under Anglo Irish headingand doesn't expand on funds over the £50k:

"Allied Irish Bank - Allied Irish, or AIB as it is often known, operates a UK-authorised subsidiary which has always fallen under the jurisdiction of the FSCS".