75K in Irish Nationwide Deposit

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October2c

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Dear all,
I would be grateful if anybody can tell me that should i take most of my saving out from my deposit account from Irish Nationwide?
Due the the scares at the moment with the NR event. I realsied the Gurantee Cover is only up to 20K per account. We put all our saving into one Irish Nationwide Savng account.
Can anyone tell me the financial safety of Irish Nationwide Building Society? I mean are they in any risk as NR or in Sub-prime activity?
This saving is all our saving which we wish to buy a home next year.
I'm very worry at the moment. Please give me some advice.
 
Basic rule is not to put all your money in the same basket.

Have a look at the Best Buys and spray your money amongst various banks. You may not achieve the ultimate highest return, but you'll have peace of mind. With €75k, you should may be consider 3 banks.

Also, be carefull , some guarantee are for aggregated accounts (e.g. €30k for all your accounts in say bank), and not per account.
 
Hi, I have an account with the INBS & I can safely say that they are the most pudent well managed institution when it comes to investing their cash & raising funds from the market.
Liquidity ratio of 29% - spare cash on balance sheet
Funding is 50% from customers 6.6bn & 50% from Debt securities 6.6bn where they know exactly what day every euro or quid is due to be repaid.
Assets are 10bn loans & 4bn from other banks

Don't worry they are the best of all the non state guaranteed entities...
 
Hi, no I don't, I am a Chartered accountant & the annual report is on their website. The web is a great mechanism for disseminating information.

"If you know where to look, it is easy to find"

Rgds
 
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