Citibank transferring to Ireland

PeacefulWaters

planteria wrote: »

this is nothing like the importance that losing HSBC would be, but it's still bad news for the UK.:(

It's an inevitable impact of applying a tax that has now become excessive.

Anthorn

Heng_Leng wrote: »

Apologies, I wasn't aware I have to prove facts to you

Contact Citibank yourself (or wait for them to update on their website) if you think I'm making it up

But if you post something like that that may affect a lot of people you either have to prove (qualify) it with an official announcement or refer to your own personal experience of it. If you can't do that then what you posted is crap which should be ignored.

planteria

agreed Peaceful. the combination of European agendas and the necessity to appear to be 'hard on the banks' could well cost the public purse dearly.

System

I quoted a reputable news source in my OP.

Anthorn wrote: »

But if you post something like that that may affect a lot of people you either have to prove (qualify) it with an official announcement or refer to your own personal experience of it. If you can't do that then what you posted is crap which should be ignored.

mrken30

How reliable is Ireland as a guarantor? When I lost money previously the Isle of Man took 6 months to pay out

dr_adidas01

mrken30 wrote: »

How reliable is Ireland as a guarantor? When I lost money previously the Isle of Man took 6 months to pay out

The Isle of Man is nothing to do with Ireland its a self governing British crown dependency.

System

I doubt you'll have any issues under €100,000

That said, I would not use for a bank domiciled outside the UK for my main banking or any substitutional funds.

mrken30 wrote: »

How reliable is Ireland as a guarantor? When I lost money previously the Isle of Man took 6 months to pay out

TomJ

Heng_Leng wrote: »

I quoted a reputable news source in my OP.

The thing is, the reputable source does not say what you say it says in so many words; it doesn't mention compensation at all. It is perfectly possible for an overseas bank to have a UK licence and be covered by the FSCS; vide Kaupthing vs Icesave before the Icleandic banking sector went belly up. While I think you are probably correct on my reading of the article, I am not an expert and it would therefore be rather handy to have your statement backed up.

System

https://www.citibank.co.uk/personal/citi-merge.do

Just a wee update.
The switch to Irish deposit scheme is scheduled for 1st Jan...

colsten

Have I missed something, I have accounts with many banks but none with Citibank since around 2007. Should I have any deposits with them? What's their attraction?