# ulster bank - safer than irish banks?



## ctlsleh (20 Apr 2011)

As Ulster bank is owned by RBS, which is owned by the english taxpayer, is it safer to have deposits and current account with them rather than with AIB/BOI for example?
thinking of moving everything over to them......any advice welcome.
thanks
Eoin


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## oldnick (20 Apr 2011)

Well, based on previous threads,including a post from ciaranT,moderator, I started putting money in Ulster Bank and ,yes, it is considered "safer" than any irish bank. Mind you, who can tell what'll happen to U.K. ? 

The general consensus (though I don't know how informed this consensus is) is that German banks are safer still - several threads on this; seems a bit of a hassle. 
Also,  I can't find a German bank that gives as good an interest rate as Ulster, though would love to be advised on this.


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## elcato (20 Apr 2011)

> thinking of moving everything over to them......any advice welcome.


Why not use a few different banks. NationwideUK have a good rating as has Rabo.


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## UFC (20 Apr 2011)

I would be of the opinion that no banks are 'safe' at the moment.

For example, German banks are exposed to a lot of Irish bad debt, and the UK are engaging in quantitative easing which personally I think is a risky tactic long term.

The alternatives (commodities, dividend paying 'stable' companies, etc.) also have their risks.

Personally I have my money in Keytrade Belgium but would prefer to have it outside the EU, perhaps Norway.

NIB and Rabo are probably quite safe.


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## DocOc (20 Apr 2011)

*Which guarantee does UB operate under?*

Some debate at work about this...Can someonme clarify which guarantee UB operates under? i.e. UK or Irish? Thanks.


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## oldnick (20 Apr 2011)

UFC is right - since I posted above I  read in last weeks Economist that many Germans banks are greatly exposed and don't have  great reserves. So that's Germany out. Scandinavia here we come....


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## Lightning (20 Apr 2011)

DocOc said:


> Some debate at work about this...Can someonme clarify which guarantee UB operates under? i.e. UK or Irish? Thanks.



Irish Deposit Guarantee Scheme: [broken link removed]


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## DocOc (21 Apr 2011)

CiaranT said:


> Irish Deposit Guarantee Scheme: [broken link removed]


 
Thnanks Ciaran.


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