How safe are deposits in Anglo-Irish?

[Kev]

The operations in Ireland of Rabobank -Rabodirect- and Nationwide Building Society -Nationwide UK (Ireland)- are Irish banks. Their parent companies would have no obligation to reimburse Irish customers

Is the Irish Nationwide building society one and same as UK Nationwide UK (Ireland)
Also is there an address for Rabobank in ireland whrere you can walk in an open an account.

 

[Lightning]

Is the Irish Nationwide building society one and same as UK Nationwide UK (Ireland)
Also is there an address for Rabobank in ireland whrere you can walk in an open an account.

Irish Nationwide (INBS) are not the same as Nationwide UK. They are totally separate. INBS are dependent on the Irish government and the ECB to survive. Nationwide UK are in a much more healthier state.

 

[mmclo]

However in the context of an Irish bank failure, legislation might be introduced limiting access to bank deposits. This would almost certainly apply to all banks operating in Ireland irrespective of their home country.

Surely contrary to EU Law, and let's face it the EU politically are increasingly calling the shots

 

[serotoninsid]

Have a 1 yr. fixed thats about to mature with Anglo. Its below the €15K minimum for Ulster Bank. So that leaves Anglo or INBS as the best rates otherwise.

I'm finding it hard to work out whether this is safe or not (ie. to stick it stick it in another 1 year fixed with Anglo)??
I already did this with another 1 yr. fixed a couple of months ago - when the consensus seemed a lot more positive (well, that's what it seemed like to me!) re. guarantee, etc.

 

[cremeegg]

That is just total rubbish you are spouting there, all of these and northern rock are parts of their parent banks operating under licence in Ireland, it's their home guarantee that kicks in first and only the Irish dream one where you have reached the parent countries limit. Iceland tried some of the stuff you are suggesting, it didn't go very well for them, politicans now on trial and frozen out of the eu and state funds frozen for not compensating British and Dutch depositers.

Now that is not very nice is it. Moving on from your manners, what about your arguments.

Yes the foreign owned banks in Ireland are parts of their parents, however their operations in Ireland are subject to Irish law.

If the Irish banks were to fail, any legislation that was introduced to deal with the consequences of that situation would, in my opinion only, affect all banks operating in Ireland.

A saver would still have their UK or Dutch govt guarantee but it might be a long slow process to turn that into cash. I certainly do not think that you could go to a Nationwide branch in London and make a withdrawl.

On the Iceland experience, surely the facts you outline support my argument

 

[cork]

Irish Nationwide (INBS) are not the same as Nationwide UK. They are totally separate. INBS are dependent on the Irish government and the ECB to survive. Nationwide UK are in a much more healthier state.

I think Irish banks are safe. That said - I closed off my Irishnationwide account last Saturday.

I also have an Anglo Fixed Rate Account that I am not overly worried about.

But I decided to close off the Anglo easy access account.

 

[alaskaonline]

I am in the "panic boat" at the moment, too
A colleague of mine recommended Rabo yesterday. I am getting confused now reading the posts here. Can someone put it as simple as that to me:
If the Irish banks go completely down hill and financially "vanish" - are my savings in a Rabo account save, yes or no?
And if no, what alternatives do I have?

Thanks for any advise.

 

[cavanMan]

I am in the "panic boat" at the moment, too
A colleague of mine recommended Rabo yesterday. I am getting confused now reading the posts here. Can someone put it as simple as that to me:
If the Irish banks go completely down hill and financially "vanish" - are my savings in a Rabo account save, yes or no?
And if no, what alternatives do I have?

Thanks for any advise.

Firstly the ECB are not going to let any Irish bank collapse, more likely what is going to happen we are going to have at least two big banks and the rest ie building societies will be merged.

Rabo is a AAA bank so your money is pretty much safe there also check out Nationwide UK they offer much better interest rates then Rabo.

 

[Expat64]

I've just checked the ratings of Nationwide (UK):

S&P is A+
Moody's is Aa3
Fitch is AA-

 

[farmerette]

I am in the "panic boat" at the moment, too
A colleague of mine recommended Rabo yesterday. I am getting confused now reading the posts here. Can someone put it as simple as that to me:
If the Irish banks go completely down hill and financially "vanish" - are my savings in a Rabo account save, yes or no?
And if no, what alternatives do I have?

Thanks for any advise.

savings are safe , the whole purpose of the bailour from the eu was to prevent an irish bank collapse becoming a european bank collapse , it could not be allowed to happen , british and german banks are up thier necks in irish banks , the trade off for our savings being secure is a 100 billion mortgage to be landed on three generations of irish people

 

[Lightning]

I would say, savings are safe for the medium term when an IMF agreement is passed by the Dail.

The ECB have stopped providing liquidity to some Irish banks. The IMF agreement needs to be signed and approved in order for emergency liquidity to resume to the banks.

 

[cork]

I have a fixed rate with Anglo. I am pretty worried about it.

It won't mature till 03/11.

I will probably hold my nerve.