P
pepsi
Guest
i have 20k in irish nationwide since Jan 2004 will i be entitled to a windfall or should i put my money elsewhere
G
Guest
Guest
should i stay or shoul i go
Have you read the FAQ?
Have you read the FAQ?
G
garrettod
Guest
Hi Pepsi
If I were you, I would not move a cent out of that account for the moment .... assuming you dont have to.
Until the official date for demutualisation is set, your still in with a chance of satisfying the 2-year rule. With various delays likely due to the Government being slow to produce the appropriate legislation, coupled with INBS perhaps stalling on proceeding with a demutualisation until they have a potential buyer lined up, you may still be in there for a windfall !
... from what I can recall, Brendan Burgess was successful in getting the Board of INBS to confirm it would announce its intended date for demutualisation before 31st December 2004 (I think this is correct ?
) .... on this basis, you would only need them to make the date 1 year from this date and your a winner ! (sort of speak )
- look at Standard Life for an example, they have recently indicated they will demutualise, in 2006 (approx 2 years after their announcement).
I'm a little suprissed you've not had any responses from the likes of Rainyday etc on this thread ? ... perhaps they will follow
Regards
G>
www.Rpoints.com/newbie
If I were you, I would not move a cent out of that account for the moment .... assuming you dont have to.
Until the official date for demutualisation is set, your still in with a chance of satisfying the 2-year rule. With various delays likely due to the Government being slow to produce the appropriate legislation, coupled with INBS perhaps stalling on proceeding with a demutualisation until they have a potential buyer lined up, you may still be in there for a windfall !
... from what I can recall, Brendan Burgess was successful in getting the Board of INBS to confirm it would announce its intended date for demutualisation before 31st December 2004 (I think this is correct ?
) .... on this basis, you would only need them to make the date 1 year from this date and your a winner ! (sort of speak )- look at Standard Life for an example, they have recently indicated they will demutualise, in 2006 (approx 2 years after their announcement).
I'm a little suprissed you've not had any responses from the likes of Rainyday etc on this thread ? ... perhaps they will follow
Regards
G>
www.Rpoints.com/newbie
R
rainyday
Guest
At the AGM in April, the resolution submitted by Shane Hogan instruction the board to commence demutualisation by notifying IFSRA of their proposed scheme by 31/12/2004 was passed. IMHO, Pepsi's chances of getting a windfall are very slim, though not zero.
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garrettod
Guest
Hi Rainyday
Sorry, had thought it was Brendan who had secured that commitment
Like you, I feel the chances are greater than zero, so assuming a reasonable rate of interest is being paid on the 20k, it certainly should be left in INBS until dates are announced and everyone knows the cut offs for certain.
Regards
G>
www.Rpoints.com/newbie
Sorry, had thought it was Brendan who had secured that commitment
Like you, I feel the chances are greater than zero, so assuming a reasonable rate of interest is being paid on the 20k, it certainly should be left in INBS until dates are announced and everyone knows the cut offs for certain.
Regards
G>
www.Rpoints.com/newbie
H
Halldorr Laxness
Guest
20k invested in INBS in January 2004
You put 20K into INBS in January 2004 (not 2003). To carpetbag successfully you'll need the demutualisation to be stalled to January 2006 - 18 months away. I really think you have no chance of scoring but if the interest rate accruing is comparatively attractive don't rush out of INBS just yet. Sometimes pigs do fly. There's a lot of something else flying at the moment in the financial markets and some acquisitions and consolidations, etc., may yet be put on the back-burner, until markets settle down again. It's very unlikely nothing will happen (double negative) before 2006 but no one knows for sure, only Michael Fingleton, maybe.
Best of luck though
You put 20K into INBS in January 2004 (not 2003). To carpetbag successfully you'll need the demutualisation to be stalled to January 2006 - 18 months away. I really think you have no chance of scoring but if the interest rate accruing is comparatively attractive don't rush out of INBS just yet. Sometimes pigs do fly. There's a lot of something else flying at the moment in the financial markets and some acquisitions and consolidations, etc., may yet be put on the back-burner, until markets settle down again. It's very unlikely nothing will happen (double negative) before 2006 but no one knows for sure, only Michael Fingleton, maybe.
Best of luck though
G
garrettod
Guest
Re: 20k invested in INBS in January 2004
Hi Halldorr
No doubt you read this weekends newspapers early ... there has infact been mention that the change in legislation won't go through before the boys 'n' girls go on Summer Holidays
Furthermore, mention of the various problems in the financial services industry at the moment and that this may also delay the change in legislation.
... keep an eye out for low flying pigs my friend
Regards
G>
www.Rpoints.com/newbie
Hi Halldorr
No doubt you read this weekends newspapers early ... there has infact been mention that the change in legislation won't go through before the boys 'n' girls go on Summer Holidays
Furthermore, mention of the various problems in the financial services industry at the moment and that this may also delay the change in legislation.
... keep an eye out for low flying pigs my friend
Regards
G>
www.Rpoints.com/newbie
R
rainyday
Guest
Re: 20k invested in INBS in January 2004
Isn't it a good job that the INBS members were canny enough to pass Shane Hogan's motion ensuring that demutualisation MUST be formally commenced by the board before the end of 2004, regardless of what happens with the legislation.
Isn't it a good job that the INBS members were canny enough to pass Shane Hogan's motion ensuring that demutualisation MUST be formally commenced by the board before the end of 2004, regardless of what happens with the legislation.
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pepsi
Guest
20k to stay or go
Hi and thanks to all the replys. I just got back from holidays and checked in. I was putting my 20K from month to month but I think there is a good rate for 2 year fixed I have nothing to lose so I shall fix for 2 tomorrow.
Hi and thanks to all the replys. I just got back from holidays and checked in. I was putting my 20K from month to month but I think there is a good rate for 2 year fixed I have nothing to lose so I shall fix for 2 tomorrow.
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rainyday
Guest
I see Saturday's Irish Times had an article from Siobhan Creaton headlined 'Irish Nationwide move to demutualise might be delayed'. The article stated that the legislated had been delayed to the autumn.
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pepsi
Guest
should I stay or should I go
My €20 was earning 1.75% in a monthly roll over fixed term. I have changed it to Freedom personal account 2.35% on advise of Irish Nationwide. They have assured me I will not lose out on any payout I may get as I have just transfered my investment with them and not withdrawn it. However my old fixed book is now marked CLOSED and I have a new one with my funds invested as of today 03.08.04. Please can sombody assure me that all is ok. My original €20 was invested on 23.02.04. So its a bit of a gamble anyhow unless anybody can update me more on this subjuect.
My €20 was earning 1.75% in a monthly roll over fixed term. I have changed it to Freedom personal account 2.35% on advise of Irish Nationwide. They have assured me I will not lose out on any payout I may get as I have just transfered my investment with them and not withdrawn it. However my old fixed book is now marked CLOSED and I have a new one with my funds invested as of today 03.08.04. Please can sombody assure me that all is ok. My original €20 was invested on 23.02.04. So its a bit of a gamble anyhow unless anybody can update me more on this subjuect.
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rainyday
Guest
Re: should I stay or should I go
I don't think anyone here can give you the assurance you seek. You could contact INBS by email (details on their website) and ask them for that assurance in writing.
I don't think anyone here can give you the assurance you seek. You could contact INBS by email (details on their website) and ask them for that assurance in writing.
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potblack
Guest
Re: should I stay or should I go
I would suggest that it might be more prudent to call to their Head Office and speak to the relevant department without delay.
I would suggest that it might be more prudent to call to their Head Office and speak to the relevant department without delay.
S
stat
Guest
should i go or stay
Hi Pepsi,
Re the assurance you received at branch level, did you check any further with head office?
Regards
Stat.
Hi Pepsi,
Re the assurance you received at branch level, did you check any further with head office?
Regards
Stat.