# Business Account Guarantees



## EOC74 (18 Sep 2008)

Does anybody have any information on these? Are they guranteed to €20K or more?

Thanks


----------



## Brendan Burgess (18 Sep 2008)

In most cases they are covered. here is what the FR website says: 

Deposits not eligible for cover include:

interbank deposits;
certificates of deposit;
items which make up the own funds or capital of the institution;
deposits in respect of which a money laundering offence has been committed;
deposits by a company connected to the credit institution;
deposits by a person who had responsibility for or who profited from the failure of the credit institution;
deposits by the directors, secretary, chief executive or their close families;
deposits by financial institutions (as defined in the European Communities Second Banking Co-Ordination Directive);
deposits by insurance companies;
deposits by the Governments or municipal, local, regional or provincial authorities of any State;
deposits by collective investment schemes;
deposits by pension and retirement funds;
debt securities; and
deposits by large companies (as defined under companies legislation).


----------



## EOC74 (18 Sep 2008)

Brendan said:


> In most cases they are covered. here is what the FR website says:
> 
> Deposits not eligible for cover include:
> 
> ...



Thanks for that. Im assuming 20K is the limit too. I wonder how big companies deal with this.


----------



## ClubMan (18 Sep 2008)

EOC74 said:


> Thanks for that. Im assuming 20K is the limit too.


Just to clarify the _Irish _deposit protection limit is 90% of amounts up to €22,222 hence the maximum amount insured is €20K.


----------



## EOC74 (19 Sep 2008)

ClubMan said:


> Just to clarify the _Irish _deposit protection limit is 90% of amounts up to €22,222 hence the maximum amount insured is €20K.



Indeed. So were better off moving the whole lot. What a farce. Im not one to usually panic but how can we trust the politicians/banks who lied to us about the "soft landing" etc.


----------

