Brendan Burgess
Founder
- Messages
- 44,150
I have summarised the deposit options according to my assessment of their rough order of safety…
As there is a lot of work in keeping this updated, check out www.itsyourmoney.ie which is kept up to date
This is a complicated subject and corrections and clarifications are welcome.
In particular, I have described some of the banks such as Leeds and KBC as solvent in their own right. Has anyone got any further information on these, which I could incorporate into the table? Or would anyone like to post a reply discussing the safety of the various banks on a case by case basis?
The inherent safety of the bank is probably the most important decision in choosing a bank and the guarantee should be a back-up. Thus Rabobank which has a AAA rating is as safe as you can get whereas Anglo Irish Bank is depending entirely on the Irish government being able to meet its guarantee.
Rabobank
| Safe in its own right as it has a AAA rating|+ covered by the Dutch Scheme -100% of €100k _
Northern Rock
| Irish Deposit Scheme €100k| + UK Scheme £100k+has recently been split into a good bank +owned by UK Govt
NIB |Irish Deposit Scheme €100k|+Danish Guarantee €50,000 + owned by Danske a good bank_
Investec
| UK Scheme 100% of £100,000|+ solvent in its own right
Leeds Building Society | UK Scheme 100% of £100,000|+ solvent in its own right
Nationwide UK| UK Scheme 100% of £100,000+ solvent in its own right _
Ulster Bank/First Active
|Irish Deposit Scheme €100k|+84% owned by UK Govt
KBC | Irish Deposit Scheme €100k|+ good bank in its own right
Pfizer | Irish Deposit Scheme €100k|+ good bank in its own right
Postbank | Irish Deposit Scheme €100k|+ good bank in its own right These are covered by the Irish Deposit Scheme but not by the unlimited Irish Government guarantee scheme
The Irish government guarantees 100% of the liabilities of the Irish covered banks:
Bank of Ireland/ICS
|will probably be adequately capitalized shortly
Permanent tsb |will probably be adequately capitalized shortly
EBS |will probably be adequately capitalized shortly
AIB |will probably be adequately capitalized shortlyThe following are relying solely on the Irish government guarantee and would be unable to repay their depositors without it:
Anglo Irish Bank
Irish Nationwide
As there is a lot of work in keeping this updated, check out www.itsyourmoney.ie which is kept up to date
This is a complicated subject and corrections and clarifications are welcome.
In particular, I have described some of the banks such as Leeds and KBC as solvent in their own right. Has anyone got any further information on these, which I could incorporate into the table? Or would anyone like to post a reply discussing the safety of the various banks on a case by case basis?
The inherent safety of the bank is probably the most important decision in choosing a bank and the guarantee should be a back-up. Thus Rabobank which has a AAA rating is as safe as you can get whereas Anglo Irish Bank is depending entirely on the Irish government being able to meet its guarantee.
NIB |Irish Deposit Scheme €100k|+Danish Guarantee €50,000 + owned by Danske a good bank
Leeds Building Society | UK Scheme 100% of £100,000|+ solvent in its own right
Nationwide UK| UK Scheme 100% of £100,000+ solvent in its own right
KBC | Irish Deposit Scheme €100k|+ good bank in its own right
Pfizer | Irish Deposit Scheme €100k|+ good bank in its own right
Postbank | Irish Deposit Scheme €100k|+ good bank in its own right
The Irish government guarantees 100% of the liabilities of the Irish covered banks:
Permanent tsb |will probably be adequately capitalized shortly
EBS |will probably be adequately capitalized shortly
AIB |will probably be adequately capitalized shortly