T
Tremblay
Guest
My mother wants to deposit a large sum into Bank of Ireland for 2 years. The deposit scheme expires at the end of June. Should she deposit the money in BOI or elsewhere, she is confused? Please advise, thanks.
Brendan Burgess
Founder
- Messages
- 52,121
No, she shouldn't.
I have written a long post explaining how to protect your deposits.
The future is simply too uncertain, and you should not put your money on deposit for a fixed term, in case you need to react quickly to a changed environment.
The Irish government is effectively insolvent and so its guarantee cannot be relied upon.
There is no risk-free place for the money, but read the full article to look at how to minimise the risks.
Brendan
I have written a long post explaining how to protect your deposits.
The future is simply too uncertain, and you should not put your money on deposit for a fixed term, in case you need to react quickly to a changed environment.
The Irish government is effectively insolvent and so its guarantee cannot be relied upon.
There is no risk-free place for the money, but read the full article to look at how to minimise the risks.
Brendan