Ulster/Fixed Active Guarantee

[raven]

Hi,

Are Ulster bank and First Active a single entity now? I ask this in terms of the government 100K guarantee, which I believe covered both of these banks up to now.

I see that both Ulster and First Active are advertising lump sum rates of 4.6% which are currently the best 12 month rates around aside from Anglo.

What I'm getting at, - is if I was to open an account now under Ulster bank and another under First Active, - would each account be covered up to 100K?
..or, would the a single guarantee of 100K apply across both?

I'm expecting there would only be a single guarantee unfortunately....

Cheers

 

[Westgolf]

one account per institution as far as I am aware. The 4.6% is an attractive rate but you should keep a eye out for other offers. UB ,in my personal and recent experience can be very on the ball if you call in to the branch and meet them. I had a lump sum to put on deposit but didnt want it locked away for 12 months given the present situation. Made an appointment,saw the chap, told him what I had in mind. Took approx 40 mins. 2 days later I had a specific proposal personalised to my needs and wishes. Took them up on the offer and so far so good. Get regular call from local branch re new account types and offers etc.
Have not got anything approaching this level/type of service from the 2 big players in this sector both of whom I consulted

Regards,

Westgolf.

 

[Lightning]

I see that both Ulster and First Active are advertising lump sum rates of 4.6% which are currently the best 12 month rates around aside from Anglo.

What I'm getting at, - is if I was to open an account now under Ulster bank and another under First Active, - would each account be covered up to 100K?
..or, would the a single guarantee of 100K apply across both?

Good Question.

See http://www.itsyourmoney.ie/index.jsp?1nID=93&2nID=96&pID=145&nID=385&aID=0#what

How much can I claim?

The maximum amount you can get under the scheme is €100,000 for each bank, building society or credit union we regulate.

and http://www.itsyourmoney.ie/index.jsp?1nID=93&2nID=100&nID=153&aID=620 appears to list First Active and Ulster Bank as separate Banks ???

 

[raven]

Up until now, there's no doubt each would have been covered separately. I guess the fact that the First Active brand will be no more and will be subsumed by Ulster Bank is what really muddies things up.
I fear that a single 100K limit could soon apply across both, as FA gets absorbed by Ulster

 

[GeneralZod]

As of January 31st First Active were [broken link removed] listed as a separately regulated credit institution on the IFSRA website. Presumably the separate €100k per depositor per institution guarantee will continue to apply until that status changes.