# Deposits in Permanent TSB



## pjr (16 Nov 2010)

Hello. I've read many comments on this site and others about the safety of deposits in the likes of AIB but I rarely see any mention of Permanent TSB. I know all our banks have problems but does anyone consider PTSB to be safer than most?


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## nmesisca (17 Nov 2010)

I would be interested in this subject too..

thanks
N


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## kdoc (17 Nov 2010)

I think they are the only outfit that didn't put a begging bowl up to the government. But I wonder will they eventually end up in trouble because of increasing mortgage defaults?


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## Lightning (17 Nov 2010)

PTSB are not a problem on the scale of AIB, Anglo, State Savings or INBS. However, PTSB are dependent on the ECB for liquidity to survive and the ECB are no longer providing unlimited liquidity to the Irish banks. 

In other words, I would say they are not the riskiest bank, but there are much safer options. 

What deposit product do you have with PTSB? What rate are you getting?


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## edge124 (17 Nov 2010)

*Deposites in TSB*

What are the safer alternatives ?


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## pjr (17 Nov 2010)

CiaranT, I've got a small amount in the 21 Day regular saver at 3.75% and 50K in a 40 day notice account at 3%.  I got a phone call from them saying some of the accounts are changing and could I drop in to them to talk about changing to different accounts.

I also have similar amounts in the AIB which I was concerned about but listening to some reports yesterday the 100K guarantee seems to be backed by the ECB in all countries now so should I be concerned at all?


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## kdoc (17 Nov 2010)

I have four fixed-term accounts with ptsb totalling €80,000. This is the greater part of a lump sum that I am living off and I have no other source of income (I will receive my company pension next October). The accounts are due to mature on dates in the first four months of 2011. 
1) Should I be worried about their security?
2) I will need to live off some of it until next October - any suggestions for a safe haven for the remainder?


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## mfh1 (17 Nov 2010)

Me too.Are PTSB an Irish bank? IF so then they should be covered by the 100k gaurantee even though they didn't ask for any help-am I right about this?
All commentators say the 100k gaurantee is sacrosanct.


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## Lightning (17 Nov 2010)

pjr said:


> CiaranT, I've got a small amount in the 21 Day regular saver at 3.75% and 50K in a 40 day notice account at 3%.  I got a phone call from them saying some of the accounts are changing and could I drop in to them to talk about changing to different accounts.
> 
> I also have similar amounts in the AIB which I was concerned about but listening to some reports yesterday the 100K guarantee seems to be backed by the ECB in all countries now so should I be concerned at all?



The 21 Day regular saver account pays 3.50%. 

AIB deposits are NOT backed by the ECB, they are guaranteed by the irish state. The concern is regarding the states ability to states ability to stand by the guarantee.


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## Lightning (17 Nov 2010)

kdoc said:


> I have four fixed-term accounts with ptsb totalling €80,000. This is the greater part of a lump sum that I am living off and I have no other source of income (I will receive my company pension next October). The accounts are due to mature on dates in the first four months of 2011.
> 1) Should I be worried about their security?



The risk is low but not zero.


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## Lightning (17 Nov 2010)

mfh1 said:


> Me too.Are PTSB an Irish bank? IF so then they should be covered by the 100k gaurantee even though they didn't ask for any help-am I right about this?
> All commentators say the 100k gaurantee is sacrosanct.



They are covered by the irish state guarantee.


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## SPC100 (17 Nov 2010)

CiaranT said:


> The 21 Day regular saver account pays 3.50%.



3.75% up to December (20th?) 3.5% after that


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## Lightning (17 Nov 2010)

Yeah, exactly.


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