Worried about my anglo deposit

Update - Todays Independent;



Finance Minister Brian Lenihan yesterday published legislation paving the way for the extension of the banking guarantee to cover certain bond issuances beyond the end of the current scheme in September 2010...

The umbrella guarantee on all deposits in the domestic lenders is also set to expire in September 2010. But the Government has indicated to Brussels that it may ask next year for approval to extend this.

The Government first moved in the middle of last September to increase the statutory limit of its existing deposit guarantee scheme from €20,000 to €100,000. But as the crisis grew, Ireland announced a blanket guarantee on all deposits and bank liabilities two weeks later...
 
I recently opened a Premium Saver a\c with Anglo with a view to moving money that was sitting in an aib account paying practically no interest. Would it be wise to move it to the Anglo a\c or will i have to go open yet another account with another bank to get a better return and security?
 
Anglo are state owned and guaranteed so they are secure, maybe not popular with the public at the moment, that's all !
 
I'm not worried, it is state gauranteed in the same way that the post office is for example. I opened an account last week and have money in there now.
 
We have one third of our deposits in an Anglo regular saver account. The 12 month term is finished on the 24th. I'm going to transfer the cash back to my main bank, review the situation and then maybe open another regular saver account with them.

This bank is owned by us, the people of Ireland, you either have faith in your country or you don't!

With regard to the Euro and its stability - its a project that was on the drawing board since the 1960s after two disasterious world wars on the continent of Europe in which millions of people died and Germany was reduced to ruins. Its as much a political project (political stability) as anything else and there is no way its going fall apart however much certain people in the UK (they see it as a threat to the city) would like to see it happen.
 
I'm confused again - after Sept 2010 are all deposit's not guaranteed with Anglo the same way they have always been guaranteed with An Post because the Government own them? Also I thought I heard the guarantee is going to be extended in any case?
I have well over €100,000 with Anglo and as I say confused as for month's have been reading Anglo is nationalised and it's the safest bank or word's to that effect.
 
From October 2010, only the first 100,000 EUR is protected in Anglo.

The only exception is a term deposit taken out before September 29th 2010.
 
"The ELG Scheme will be reviewed at least on a six monthly basis to determine whether the financial support provided by the ELG Scheme continues to be necessary." So it may extended beyond September for demand accounts...
 
I currently have a Premium Demand A/c @ 2.80% with aprox €200,000. If I open a 1 year Fixed Term Reward A/c @ 3.50% and say put €100,000 or slightly more in it and keep the rest of say €100,000 in my exisiting Premium Demand A/c will I be covered by ELG with my Reward A/c and still covered by standard guarantee for my Premium Demand or would both guarantee's combine as such and I would be only covered for €100,000?
 
theresa1 said:
I currently have a Premium Demand A/c @ 2.80% with aprox €200,000. If I open a 1 year Fixed Term Reward A/c @ 3.50% and say put €100,000 or slightly more in it and keep the rest of say €100,000 in my exisiting Premium Demand A/c will I be covered by ELG with my Reward A/c and still covered by standard guarantee for my Premium Demand or would both guarantee's combine as such and I would be only covered for €100,000?
Click to expand...

where do you all get this type of money is what I want to know :) lol Im in my 30's and trying my hardest to build up some financial security for myself but it's a slow process when one is trying to save it from whats left over at the end of the month!!! tips would be welcome ;)
 
I just opened a 1 year Fixed Term Reward Account and they sent me out a form looking for my PPS Number under the return of Payments Regulations 2008. Is this correct? I know other banks ask for your number but it's only for indentity purposes?

They also sent me out a confirmation letter stating any withdrawals made will result in the default rate of interest, outlined in your welcome letter.

I got my welcome letter and it does not state any default rate of interest?
 
theresa1 said:
I just opened a 1 year Fixed Term Reward Account and they sent me out a form looking for my PPS Number under the return of Payments Regulations 2008. Is this correct? I know other banks ask for your number but it's only for indentity purposes?

They also sent me out a confirmation letter stating any withdrawals made will result in the default rate of interest, outlined in your welcome letter.

I got my welcome letter and it does not state any default rate of interest?
Click to expand...
Most banks ask for PPS these days something to do with revenue and DIRT tax.


Ring and ask them about the default rate of interest.

I think you are very brave to be investing with this bank, just the mere mention of the word Anglo leaves a very bad taste in my mouth. I think the name will forever be synonymous with all things bad about banking in Ireland.
 
You must log in or register to reply here.
Back
Top