Philbert
Registered User
- Messages
- 3
Hi folks,
Long time lurker, first time poster.
I need to keep a 7-figure sum in cash (AIB current a/c) for about a year or thereabouts. Following which time it will be used to purchase various assets.
I have read numerous posts over the years where members have vigorously recommended to split cash across multiple institutions to benefit from the Deposit Guarantee Scheme.
I really don’t want to have to do this to be honest and, aside from the hassle, there wouldn’t be enough institutions to cover it all.
So my questions is this.. Is there really a material risk here (particularly given the timeframe)? Would it essentially require AIB to go belly up for this money to be at risk? I take it that is highly unlikely.
Would really appreciate your thoughts and what you would do in this scenario.
Many thanks.
P.
Long time lurker, first time poster.
I need to keep a 7-figure sum in cash (AIB current a/c) for about a year or thereabouts. Following which time it will be used to purchase various assets.
I have read numerous posts over the years where members have vigorously recommended to split cash across multiple institutions to benefit from the Deposit Guarantee Scheme.
I really don’t want to have to do this to be honest and, aside from the hassle, there wouldn’t be enough institutions to cover it all.
So my questions is this.. Is there really a material risk here (particularly given the timeframe)? Would it essentially require AIB to go belly up for this money to be at risk? I take it that is highly unlikely.
Would really appreciate your thoughts and what you would do in this scenario.
Many thanks.
P.