Business cash on deposit - Is it safe?

[dingdong22]

Hi All

We have a large amount of cash on deposit in our business account with AIB.
It is well over the 150k deposit guarantee scheme.

Does anyone see any risks with AIb? I see some us banks in trouble.
I hope to take it out in a few years.

 

[jpd]

Why not split it between three banks or use National Savings?

 

[skrooge]

1.All banks are risky to some degree.

2. Deposits in any one institution are protected by a guarantee scheme up to a total of €100k.

So you should assess the effect of the bank failing on you business versus the benefit of having that amount of money in AIB. You may decide the risk is sufficiently remote enough to leave the funds there or as jpd suggests you can diversify.

If you want to know what the pros say have a look at the following. They are almost always right.... except when they get it horribly wrong.

Credit Ratings, Credit Ratings Fitch, Credit Rating Moodys | AIB Investor Relations

Find out more about AIB’s current Moody's, Fitch, Standard and Poor's ratings.

aib.ie

 

[1dave123]

Hi - I saw this video the other day - it may be of some interest to you.

Are Irish Banks Safe? (Analysis of Irish Banking Sector)

In this video, we're answering the question: are Irish banks safe? As onlookers in Ireland, it can be challenging to know whether recent bank failures abroad...

www.youtube.com