Northern Rock bailed out by Bank of England

hello all,
I know you all have being talking about not getting youre money in the event of a tight credit crunch in the future but what would you make out of my situation.
I had borrowed money in the northern rock for the past 10 months not needing it until next april to pay off for a property, what happened me was strange.
I withdrew everything except €10000 from the northern rock and i also received an extra €130,000 in my account i seemingly had this in my account for about 2 weeks before I knew about it.
One day i just happened to check my balance on my account and it just seemed impossible. It was a surprise to me that Northern Rock, a reputable bank would make such a mistake. Has anyone else had this happen to them. I know youre all worried about getting you're money back but it's the exact opposite for me.
I got a call then last wednesday from Northern Rock from England and not the Ireland office to say that they had mistakenly given me an extra €130,000 and to know would i kindly return it which i duly did. But i am shocked. can someone let me know any info on any of what i said
 
europhile said:
Still waiting for my money ten days later. Was again given a fobbing off on the phone by a very smooth talking gentleman.

Password has been reset - so I can't even get through to the account.

They don't inspire great confidence.
Click to expand...


Did you get your money yet? Still waiting on transfer that was done on 17th Sept. When I log into NR a/c - our funds are still there and transaction is 'pending'. Mr Danmo is going to ring them later on...
 
seánieboy said:
hello all,
........ I withdrew everything except €10000 from the northern rock and i also received an extra €130,000 in my account i seemingly had this in my account for about 2 weeks before I knew about it.
One day i just happened to check my balance on my account and it just seemed impossible. It was a surprise to me that Northern Rock, a reputable bank would make such a mistake. Has anyone else had this happen to them. I know youre all worried about getting you're money back but it's the exact opposite for me.
I got a call then last wednesday from Northern Rock from England and not the Ireland office to say that they had mistakenly given me an extra €130,000 and to know would i kindly return it which i duly did. But i am shocked. can someone let me know any info on any of what i said
Click to expand...

...check back through this thread ... there are plenty (myself incl.) who have received double payment.
 
gearoidmm said:
Suggestion this morning in the media that the BOE are only going to guarantee the first £35,000 of deposits in NR and other banks rather than £100,000. Does this change things?

http://business.timesonline.co.uk/tol/business/markets/article2565424.ece
Click to expand...

Northern Rock is a seperate issue to this. They have made their pledge to protect all depositors' savings for Northen Rock.

Going forward, they are also looking to increase the deposit protection they offer to ALL british banks and building societies.
 
nahdoic said:
Northern Rock is a seperate issue to this. They have made their pledge to protect all depositors' savings for Northen Rock.

Going forward, they are also looking to increase the deposit protection they offer to ALL british banks and building societies.
Click to expand...
Yes, but (how many sentences start like this in this whole fiasco?) once the new deposit protections are in place, the BoE/Treasury will remove the unlimited cover that is currently in place.

It will, however, still be far better deposit cover than in available in the eurozone if what is enacted is 100% protection of stg 35,000.
 
gearoidmm said:
Suggestion this morning in the media that the BOE are only going to guarantee the first £35,000 of deposits in NR and other banks rather than £100,000. Does this change things?

http://business.timesonline.co.uk/tol/business/markets/article2565424.ece
Click to expand...


"Chancellor of the Exchequer Alistair Darling, speaking to BBC radio, said his government would protect 100 percent of a person's savings deposited with a retail bank up to 35,000 pounds....."

[broken link removed]

Interesting today, BOI 365 Online are having problems! I rang them and asked whether this was like NR and would there be a run on the bank! The Call Centre person said I was not the first to get this dig in! :)
 
Has anyone re-deposited in their NR account(s) yet? I can't see any reason not to. There is however some conflicting information coming from NR:

The interest penalty refund for returning savings deadline is 12th October on their website but 5th October from their call entre. Does anyone know which is the case?

As I said, has anyone returned their savings or even just 'sat tight?'
 
I took most of my cash out (left 2.5k there) but will not be re depositing. Online service is still acting up and the whole affair has left a bit of our taste in my mouth.

I have opened a Rabo account for 10k that i can access easily if I need it (I hope :-D) and will probably put the rest in a notice account.
 
Re: Northern Rock site inaccessible

Don't want to alarm anyone but N.R. site is inaccessible - they say due to "essential maintenence". Doesn't look good to me. I thought the panic was over.
 
Re: Northern Rock site inaccessible

sherib said:
Don't want to alarm anyone but N.R. site is inaccessible - they say due to "essential maintenence". Doesn't look good to me. I thought the panic was over.
Click to expand...


I have been having similar problems since lunch time but, I had no difficulty contacting them and making a withdrawl via telephone this afternoon.

I think the site problem is genuine.

nansus
 
http://www.rte.ie/business/2007/1003/northernrock.html

JC Flowers, the private equity group that has expressed interest in troubled UK mortgage bank Northern Rock, is reported to have secured about £15 billion sterling of funding which could be used for a takeover...

It said JC Flowers was interested in keeping Northern Rock as a whole entity and was understood to have received funding commitments from big banks. A JC Flowers team is to meet Northern Rock's advisers for talks that could lead to due diligence, the paper said.
 
Re: Northern Rock site inaccessible

nansus said:
I have been having similar problems since lunch time but, I had no difficulty contacting them and making a withdrawl via telephone this afternoon.

I think the site problem is genuine.

nansus
Click to expand...


uh oh, may be genuine but same problem as yesterday again this morning, looks like me funds are going elsewhere
 
"Welcome to Northern Rock

We're open for business as usual and would like to offer our sincere apologies for any anxiety or inconvenience caused.
your money's safe with us - and that's guaranteed"



especially when you're greated with the above-

open for business as usual ie. you can't get your money
your money's safe with us (from you) because you couldn't get it out if you wanted it
 
joe sod said:
If you have large deposit you are probably safer with northern rock than with irish banks. With northern rock your deposits are 100% guaranteed by the british government, with the irish banks only the first 21,000 is 90% guaranteed
Click to expand...
90% is guaranteed subject to a cap of €20K which is 90% of €22,222 not €21K.

deposit protection scheme
 
Hi,
My father who asked for a cheque to be posted is still waiting. He rang the monday after the friday announcement. He has been strung along by NR who said the cheque would be in the post. Now they say they never issued the cheque but as his account was closed he won't be entitled to the interest. This has to be incorrect. As they forgot to issue the cheque they should add the interest for the last three weeks. Does anyone know what the approach he should take is? I told him to go down to the office and kick up a stink as he reckons he has lost up to 200 euros in interest due to their mistake.
Gearoid
 
I eventually received my cheque on 30th Sept. Lodged it to another bank today, only to be phoned later by this bank to say that my cheque has been stopped. Am awaiting a call from NR. Has this happened to anyone else.
 
I got my cheque a couple of days after requesting it online. Lodged it to my current account today. Planning on spending most of it as soon as its cleared. Better not be stopped :rolleyes: .
 
Got my money within the couple of days.

I note their borrowings are now up to £10bn, jaysus thats risen fast. Am thinking of pulling out the remaining amount now. Anyone??
 
You must log in or register to reply here.
Back
Top