# How safe is Ulster Bank? since they are owned by RBS & UK Gov Majority owned.



## cavanMan (24 Nov 2010)

Hi guys!!

in your opinion how safe is Ulster bank thses days?? since they are a foregin bank owned by RBS which is majority owned by the British goverment, are they a safe place for savings?

would Nationwide UK be safer?

any respones welcome


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## mmclo (24 Nov 2010)

Must say it is hard to work out exactly how Irish or UK they are. They are covered by UK and Irish deposit scheme afaik but there seems to be an Ulster Bank Irleand Ltd. so is it just the NI bit covered by UK depositers scheme


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## MBoyle (24 Nov 2010)

Id be interested to know how safe Ulster bank is too, and Permanent TSB?

Thanks.


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## mercman (24 Nov 2010)

84 % owned by the British Government.


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## Lightning (25 Nov 2010)

Jupiter said:


> Id be interested to know how safe Ulster bank is too, and Permanent TSB?



Permanent TSB are as safe as any of the 6 Irish state guaranteed banks. 

What type of account do you have with PTSB? What kind of return are you getting?


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## cavanMan (25 Nov 2010)

I think id rather to be covered by the British goverment then the irish one.

Looks like Permanent TSB needs a bail out of 600 million or so, looks like the merger with EBS will be in limbo for the mo!


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## MBoyle (25 Nov 2010)

*Ptsb & ulster bank*

Hi CiaranT,

I have a 40 day notice account with PTSB, its earning around 3% interest.  It's a decent amount of money and I don't want to risk losing it.  I've put notice on it today which means I can access it after 4th January.  If I access it before then the penalty will be 255euro - not too serious.  How safe is it until January in your opinion?

Also, how safe is Ulster bank.  I have an account there earning about 3.25% which is not up until June next year.  I'd like to leave it there but is Ulster Bank safe?

Also, one last bank to query - I believe National Irish is fairly safe?  Am I correct in saying this?

Thanks for your help CiaranT & all,

J


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## cavanMan (25 Nov 2010)

Can't understand why your withdrawing your money!! all deposits are guaranteed via the various schemes by the Irish goverment and ECB....if everyone keeps withdrawing deposits then the irish banks will be in deeper troube and will take more money to bailout that will have to be paid back by me and you.


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## mmclo (25 Nov 2010)

Well unfortunately people don't have faith in the Irish gauruntee and in mnay ways looking at our descent into economic hell who can blame them.

I appreciate Ulster is 84% owned by RBS but does that mean the UK gauruntee applies particularly as they style themsleves Ulster Bank Ireland Ltd. here


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## Lightning (26 Nov 2010)

cavanMan said:


> Can't understand why your withdrawing your money!!  all deposits are guaranteed via the various schemes by the Irish goverment and ECB....



Deposits are not protected by the ECB. They are protected by the Irish state. 

The ECB has in fact stopped providing liquidity to AIB and some other Irish banks and have helped cause this crisis.



Jupiter said:


> Can anyone tell me how safe PTSB and Ulster Bank are?
> 
> I have a 40 day notice account with PTSB, its earning around 3% interest. It's a decent amount of money and I don't want to risk losing it. I've put notice on it today which means I can access it after 4th January. If I access it before then the penalty will be 255euro - not too serious. How safe is it until January in your opinion?
> 
> ...



PTSB are guaranteed by the Irish state. In the short term, if the EC/IMF agreement is passed by the Dail, then the risk to your deposits is low.

Ulster Bank are owned by the UK government.

NIB are a owned by Danske Bank who are profitable and well run.

I would certainly say that Ulster and NIB are 'safer' but the risk to your deposits is, right now, low in PTSB.


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## MBoyle (26 Nov 2010)

Thats good to hear CiaranT, hope you're right.  Going to leave for the time being anyway.

Thanks for your help!

J


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## asdfg (14 Dec 2010)

*ulster bank*

would ulster bank be a good place to deposit 60,000 euro.will it be covered by bank or government gaurentee after dec.Should i change my money to sterling.Please advise loosing sleep over this .not very well up on banks. thanks


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## Lightning (14 Dec 2010)

asdfg said:


> would ulster bank be a good place to deposit 60,000 euro.will it be covered by bank or government gaurentee after dec.Should i change my money to sterling.Please advise loosing sleep over this .not very well up on banks. thanks



Your deposit is protected by the Irish Deposit Protection Scheme which protects the first 100,000 EUR per person per bank with no end date. This is obviously dependent on the ability of the state to honour this. 

Ulster Bank are 84% owned by the UK government who are AAA rated. They therefore obviously have a safe parent. 

If you deposit is in EUR, you run the risk of Ireland exiting the EUR. For the moment, this seems possible but unlikely.

Don't worry about it, nothing will happen with the EUR overnight and it is unthinkable that the UK government would let RBS (Ulster) go.


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## asdfg (15 Dec 2010)

thank you so much ciaran t for your advice .Looks like i dont need to worry to much


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## Kai123 (16 Dec 2010)

I was about to make a new thread asking about where to put my savings. This thread has been brilliant so far 

I earn around 18k euro a year, as does my girlfriend. I currently save E75 a week into a credit union. Recently me and my girlfriend paid off the credit card and a huge loan, so we are going to open a joint account to save E150 a week. After 2 years we might be able to afford an apartment.

My credit Union dividend was 0.25%. The main reason for saving into the CU was because its not a bank. I have no faith in the Irish banks, so knowing that I have a choice of NIB or Ulster bank is really good to know. Since we will be saving long term over 2 years or more, we need a reliable bank.

Kai.


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## ajapale (16 Dec 2010)

Kai123 said:


> I was about to make a new thread asking about where to put my savings.
> Kai.


 
Please post new questions in a new thread.

Keep this one to discuss: How safe is Ulster Bank? since they are owned by RBS & UK Gov Majority owned. 
aj


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## Kai123 (16 Dec 2010)

ajapale said:


> Please post new questions in a new thread.
> 
> Keep this one to discuss: How safe is Ulster Bank? since they are owned by RBS & UK Gov Majority owned.
> aj



Gottcha. 

I was only stating that this thread answered my questions. 

Kai.


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