Anglo Irish Bank - impressive!

melbury

Having decided not to reinvest with NR, after much researching I decided to invest in a fixed rate bond with Anglo Irish Bank.

Just wanted to say how impressed I am with their service so far. Posted off application and cheque on Monday and received confirmation letter today, which I think is pretty good.

smudger1946

u sure ur not on the pay roll of this bank?

globevestor

What is the exposure to derivatives?

purch

Personally I'd ask what is their exposure to Structured Finance Products, especially Collateralised Debt Obligations rather than pure Derivative products.

melbury

smudger1946 wrote: »

u sure ur not on the pay roll of this bank?

No I am definitely not on their payroll, I just wanted to give some praise where it is due. So many times we get bad service from financial institutions, it makes a refreshing change to get some efficient service.

melbury

globevestor wrote: »

What is the exposure to derivatives?

What does that mean? Do you think they are an usafe bank then?

exel1966

melbury wrote: »

Having decided not to reinvest with NR, after much researching I decided to invest in a fixed rate bond with Anglo Irish Bank.

Just wanted to say how impressed I am with their service so far. Posted off application and cheque on Monday and received confirmation letter today, which I think is pretty good.

Wish I could say the same !!! I rang them twice earlier in the year requesting an application form (my printer was broken so couldn't do it online) for their 1 year bond and never recived a thing from them. Put my money elsewhere in the end !

wayne42

I agree with the thread starter. Excellent service thus far. Recieved application form a few days after I requested it.

Id still like to know how they can guarantee deposits 100% as their website clearly states? In these times of turmoil,I for one would like to think they are bound to this statement. But by who?
http://www.angloirishbank.co.im/personal-savings/privilege-fixed-interest-account.asp

globevestor

melbury wrote: »

What does that mean? Do you think they are an usafe bank then?

I do not know whether the bank is safe. That is why I ask their exposure in derivatives. Types of derivatives can be found at http://en.wikipedia.org/wiki/Derivative_(finance)

purch

Derivatives which are used purely as a trading vehicle between Banks, which will make up the vast majority of the trillions of Dollars in outstandings, are not so much of a problem except for the fact that they may show unreliable and often disputed profits and losses on trading accounts

Derivatives that are used to hedge, real exposures can be a problem, as often they can't or don't hedge exposures in the way they are designed

The problem is Derivatives are not 'real', whereas people defaulting on their Mortgages are.