Northern Rock bailed out by Bank of England

I don't think they are setup to deal with the public in person. When the web site is slow or unavailable, they will accept telephone instructions for online accounts.

BTW, I can't understand why anyone with less than €50,000 (£35,000 sterling) deposited is rushing to withdraw it. If you think NR is risky, you might feel similarly about First Active (whose branches are nothing more than mortgage stores now) or Anglo (whose profits are due to aggressive commercial lending to developers). Rabo or NIB are probably marginally "safer", but in the sort of scenario where there's a run on banks, where would be safe? Gold?! The UK scheme that covers NR is actually the most generous deposit protection scheme of any bank accepting deposits here.
 
battyee said:
NR lines all closed now "message says "open monday 9 am." No help lines set up it seems
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This is from an RTE report

Northern Rock has issued two helpline numbers for customers who wish to contact them.1850 315115 is open from 8am-8pm Monday-Friday, 8pm-4pm on Saturday and 10am-3pm on Sunday. 01 6020324 operates from 9am-5pm Monday to Friday.

The Financial Regulator has also set up a helpline at 1890 777 777.
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sapmanie said:
This is exactly what Warren Buffet was talking about - Mr. Market!I just bought a load of NR shares (just before they started to rise :-))) ).


Removed by moderator - No discussion of individual shares - please see Posting Guidelines

I'm going to make a killing thanks to investor fears.FYI I do have money in NR but have no intention of withdrawing it. If the BOE refused to bailout NR then I would be sweating blood, but they did, so there's no problems - just people's fear help making me rich :-)
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So think we're all saps and that you're going to make a packet?

Have a look at what the other investors are saying:
[broken link removed]
(note, this was from 08:16 this morning).

Removed by moderator - No discussion of individual shares - please see Posting Guidelines


Would you like a plaster for that sweat?
 
MugsGame said:
The UK scheme that covers NR is actually the most generous deposit protection scheme of any bank accepting deposits here.
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That is not much use to people who need the money immediately or in the very near future.


Marion
 
Still no joy in accessing my account online. Surely not many people are trying at this hour of the night? Has anyone been successful all day long?
 
ClubMan said:
Bugger off! I'm trying to log in as well. :mad:

;)
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me too!!!

Looking at skynews (I know, a bastion of great reporting)

they're going through tomorrows newspapers headlines (and criticising one of the papers). One analysts reckons that the BoE must go bust first for NR to go bust since they have intervened as lender of last resort. Is he just trying to calm the storm?
 
Re: Bank of England giving Northern Rock emergency funds?

sadie said:
Report on BBC news says Bank of England only lends money to those companies they reckon are financially sound, and that investors should be reassured by this move. Put it this way, the Bank of England wouldn't be lending money to anyone unless they were pretty certain it was a safe bet.
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I agree with you there. Northern Rock is a huge organisation with a huge amount of assets. Smaller Banks like the Irish ones would face cash flow problems too ( and prossibly will yet ) if / when lots of people decide to withdraw money at the same time. No need to panic methinks.
 
Well I'm giving up for the night.

Good luck with your future endeavours! :D

Post crossed with Jethro Tull's.
 
After waiting about 20 mins on the security page I got the following:

"We regret that this service is currently unavailable. Please try again later, or telephone our administration office on (01) 480 6050 for further assistance. Opening hours 09.00am - 17.00pm (GMT) Mon - Fri"

It looks like access could be gone for the weekend!!
 
Hi all, I managed to log into NR last night at 12.20 and made a same day transaction request for majority of deposit and received a transaction reference number, left in circa €1700. The money hasn't been lodged to PTSB account today! Have been trying to login all day and this evening with no luck whatsoever. I contacted the helpline number today @ 4.00 (was on hold for half an hour) and advised by bloke in Newcasltle that they had until 5pm to lodge a same day transaction request. I queried if he could trace if the funds had been released through the transaction reference and was told that this could only be done through the Dublin office, had no luck in trying to contact them. I was wondering could anyone advise
A. What happens to sums in excess of the amount covered by guarantee
B. What recourse is available for money not transferred on the same day as requested(and paid for €25)
Cheers!:confused:
 
I tried to login lots of times throughout the day, never with any joy. Sometimes I got as far as the security question, mostly it timed out before that. I've been trying again for the last half hour with the same results.

On the law of averages, I would have expected at least one of my several dozen efforts today to have succeeded. The fact that none did makes me believe that the site is probably inaccessible for everyone, and I would be surprised to see that change over the course of a weekend.

I'm not unduly concerned that I'll be waiting an extra few days to get access to remove some/most of my cash (I can't imagine NR will disappear within a few days), but I am certainly not impressed that the site is to all intents and purposes out of action. If the site is truly inaccessible they should say so on the home page, not imply that you will get through "with a little patience" - at this stage I'm more tempted to get through it with a not so little hammer.
 
Suggest you forget about your €25 and be thankful when you get your money. That is if you get your money!
Have been trying yo log in without success for last few hours to see if my money has left NR as it sure hasn't arrived in AIB.
 
I have been trying to log in since 9.30pm this evening. I get as far as the security question then time out or get the "Not available at this time, please try again" message.

My suspicions are that they have stopped customers logging on rather than there being any "technical " reasons as such.

I can not believe an organisation this big is being so irresponsible as to shut up shop for the weekend fueling any worry customers might have.

I have a fair amount of money tied up in NR and I am very nervous and have lost confidence in NR considering there total lack of customer service.They should be making themselves available to customers and quelling their fears rather than hiding behind an "IT/Technical" Issue!!!
 
Enak said:
I have been trying to log in since 9.30pm this evening. I get as far as the security question then time out or get the "Not available at this time, please try again" message.

My suspicions are that they have stopped customers logging on rather than there being any "technical " reasons as such.

I can not believe an organisation this big is being so irresponsible as to shut up shop for the weekend fueling any worry customers might have.

I have a fair amount of money tied up in NR and I am very nervous and have lost confidence in NR considering there total lack of customer service.They should be making themselves available to customers and quelling their fears rather than hiding behind an "IT/Technical" Issue!!!
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I am getting to different stages each time - sometimes the first security question, sometimes the second. This does not strike me as the behaviour of a block, but rather of two servers that are heavily loaded (you get through the traffic jam on the first question, only to be stuck behind a milk-float on the second question).

I am getting further than I was an hour ago, but still not in yet. I will stick with it for a while longer.
 
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