L
RABODIRECT
Disadvantage -
in an unforseen situation if they go under you are covered for only €40,000 of your cash deposits !!!!!
Hi I just wondered was Ulster Bank in a better condition than AIB or BOI?? my parents have a large deposit with Ulster bank. I myself have a deposit with AIB and I had a deposit with BOI which I moved to Nationwide uk ireland. I'm in the process of possibly moving my AIB deposit and wondered should i be advising my parents to move theirs from Ulster Bank.
Does anyone have the form that you fill in or the number you call when the banks go bust to claim your 100k?
No banks are going to go bust. The EU and the ECB are not going to let it happen end of story. Depositors are not going to get burned.
The ECB has stopped providing liquidity to Irish banks but not in the absence of other arrangements. If one thinks that, if some morning the AIB is closed unannounced and you could stroll down the street and casually withdraw cash from BoI or Ulster etc I don't share their optimism.
Having said all that opening a sterling account might not be a bad idea as a currency hedge. Trichet is going to start printing money so the Euro might well devalue against sterling. So while no bank will be allowed default the effect of printing money might not do alot for the 'value' of the €. Buying some sterling now and then converting it back to € in 12 months say might be a good hedge. But this point might be better in a 'currency trader' thread. But banks going bust is not the issue. It's the €'s exchange rate that you want to be thinking about.
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