B
bazpaul
Guest
Hi guys,
I have to say i dont fully understand the specifics of this 'Financial crisis' however i am, like a lot of people, very worried about my deposits. I have heard that while the Government guarantee your money upto 100k, if the global economy was to go into turmoil our deposits could be frozen for a few months or even years but we would eventually get them back.
Mt predicament is that i will be traveling around the world for the next few years living on savings in my Bank of Ireland account, i am now worried that in a few months or a year, my account could be frozen due to this crisis and i would be stuck in some part of the world with nothin but the clothes on my back!! Questions:
1. Does 100k this guarantee mean my money will be definitely safe for the years to come and i can constantly withdraw cash in those years?
2. I have a Visa with TSB, would i be safer putting my cash onto my Visa for a year or two or are they tied into a bank as well and thus just as at risk?
3. If i put it into a rabo direct account is that safer than an Irish bank? However if there is a global recession surely the Dutch banks would go down along with Rabo? Is this true or is Rabo guaranteed not to go down?
4. If many banks were to go under across the world, what would be the best place to store your money? online account? world bank? Post office? Big fat mattress in your bedroom?
5. I have a credit union account but they have their money with AIB, so i assume if AIBs deposits are frozen, every union members savings are frozen too?
Thanks for reading this far...im just very confused and dont want to be left stranded in a country as i will not be working so the only money i will have will be from my irish accounts.
thanks for your replies
I have to say i dont fully understand the specifics of this 'Financial crisis' however i am, like a lot of people, very worried about my deposits. I have heard that while the Government guarantee your money upto 100k, if the global economy was to go into turmoil our deposits could be frozen for a few months or even years but we would eventually get them back.
Mt predicament is that i will be traveling around the world for the next few years living on savings in my Bank of Ireland account, i am now worried that in a few months or a year, my account could be frozen due to this crisis and i would be stuck in some part of the world with nothin but the clothes on my back!! Questions:
1. Does 100k this guarantee mean my money will be definitely safe for the years to come and i can constantly withdraw cash in those years?
2. I have a Visa with TSB, would i be safer putting my cash onto my Visa for a year or two or are they tied into a bank as well and thus just as at risk?
3. If i put it into a rabo direct account is that safer than an Irish bank? However if there is a global recession surely the Dutch banks would go down along with Rabo? Is this true or is Rabo guaranteed not to go down?
4. If many banks were to go under across the world, what would be the best place to store your money? online account? world bank? Post office? Big fat mattress in your bedroom?
5. I have a credit union account but they have their money with AIB, so i assume if AIBs deposits are frozen, every union members savings are frozen too?
Thanks for reading this far...im just very confused and dont want to be left stranded in a country as i will not be working so the only money i will have will be from my irish accounts.
thanks for your replies