Irish Nationwide Deposit Safety

L

Lingua

Registered User
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I have a lump sum waiting to be invested... had ideas about Irish Nationwide, now however Im having doubts, espec. considering todays news...
Any advice here welcome
 
Re: Irish Nationwide

INBS deposits are now effectively in a state body.

Your deposit is guaranteed by the state up to 100,000 EUR beyond September 2010.

The state is AA rated.
 
Re: Irish Nationwide

if I have €100,000 deposited in nationwide for a year and I get €3,500 interest (gross), would I get the interest back as well if the guarantee had to be called in?
 
Re: Irish Nationwide

Would seem prudent to stay under the guarantee ceiling in any one deposit institution?
 
Re: Irish Nationwide

Anfear said:
Would seem prudent to stay under the guarantee ceiling in any one deposit institution?
Click to expand...

Yes, I would agree.

I would not advise anyone, who has significant deposits, to exceed 100,000 EUR in Anglo, AIB, EBS, PTSB or INBS.
 
Am confused now, I underood all deposits were guaranteed up to the end of September and in particular deposits placed in a fixed term account in any one of the institutions mentioned by Fungus and indeed all other funds in native institutions were guaranteed for up to 5 years once the account was a fixed term deposit and opened before September 30th 2010, ?
 
Yes, thats correct for term deposits.

However, placing 100k in term deposits, in these banks may still not be the best choice both from a long term safety and return on your money perspective.
 
Re: Irish Nationwide

Fergus,

In your view, are there ANY banks left at this stage that are a good choice for "long term safety"???
 
Just to clarify the ELG Scheme, if investing in a fixed term account prior to Sept 28th, this is only guaranteed up until the fixed term expires, to a maximum of 5 years, so if you invest in Sept 2010 in a 1 year FTA you will only have the guarantee until Sept 2011.
 
Lingua said:
Is nationwide uk online only?
Click to expand...

Off topic slightly but yes they do have one office in Spencer Dock. You can pop in with all your bits n pieces and open an account there. In terms of norma day to day transaction the only way to do it is online.
 
Whizzkid,

Our company was planning on depositing €300,000 in INBS for one year fixed term- from your post it would imply that any deposit placed by Sept 2010 would be guaranteed to Sept 2011 but up to a maximum of €100,000.

Am I correct in my assumptions ?
 
Our company was planning on depositing €300,000 in INBS for one year fixed term- from your post it would imply that any deposit placed by Sept 2010 would be guaranteed to Sept 2011 but up to a maximum of €100,000.

Am I correct in my assumptions ?

No. Any amount will be covered by the ELG Scheme. However they are not automatically covered for 5 years, they are only covered for the fixed term, ie 1,2,3,4 or 5years.
 
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