Hold or cash in savings bond with An Post?

[oldtimer]

The email was probably received by a low level civil servant who may reply or not reply with no accountability either way so why would they bother? In fact, now that I think about it, they'd think they'd be safer not saying anything (that could later be held against them) at all.

Absolutely correct. Did you expect to get a letter from the Head at the Dept giving you total assurance? The email was received by Customer Services who sent out their standard reply to such queries.

 

[kdoc]

Absolutely correct. Did you expect to get a letter from the Head at the Dept giving you total assurance? The email was received by Customer Services who sent out their standard reply to such queries.

Actually, oldtimer, they didn't send any reply at all - no standard reply that you mention - nothing.
Now, I didn't expect a response from a departmental chief. And as every schoolboy (and AAM member) knows, there is no such thing as a totally 'risk free' financial product. However, an acknowledgement would have been nice, and better still, I would have liked like to hear what strategies, if any, are being considered to protect depositors. Maybe something along the lines of the protection afforded to Anglo and Nationwide depositors would be nice. Could that be regarded as a precedent?

 

[oldtimer]

Actually, oldtimer, they didn't send any reply at all - no standard reply that you mention - nothing.
Now, I didn't expect a response from a departmental chief. And as every schoolboy (and AAM member) knows, there is no such thing as a totally 'risk free' financial product. However, an acknowledgement would have been nice, and better still, I would have liked like to hear what strategies, if any, are being considered to protect depositors. Maybe something along the lines of the protection afforded to Anglo and Nationwide depositors would be nice. Could that be regarded as a precedent?

I was not responding to you - more at the reply Frankmac received.

 

[frankmac]

Oldtimer I think you're a bit confused here. The request I made and the reply I received was from An Post not the Dept. kdoc was the one who emailed the Dept and was rightly ( in my opinion) annoyed not to have received even an acknowledgement.

 

[Black Rock]

post ofice savings or NTMA savings

The term "Post Office Savings" is not as clear as it could be - if you check the published annual accounts of the post office (An Post) you will notice there is no statistics on "Post Office Savings" at all, as national savings do not form any part of the financial statements of An Post.

The reason for this is that the post office provide a counter service to collect savings money on behalf of the Government and the post office immediately, every day, hand all savings money over to the Government under the management of the National Treasury Management Agency where it is known as "NTMA State Savings" which includes Prize Bonds.

NTMA State Savings are accounted for only in the annual accounts of the National Treasury Management Agency (NTMA) and are identified as being part of the national debt and under knownunder the name "NTMA State Savings".

The NTMA's website StateSavings dot ie has a brochure on the home page which explains everything and lists the products which include Savings Bonds, Savings Certificates, Instalment Savings, Deposit Accounts (such as the Ordinary Deposit Account and the Deposit Account Plus) National Soldidarity Bond and Prize Bonds.