# ByeBye INBS "shares"



## Tyrone Laces (2 Mar 2011)

Got 5 letters from Irish Nationwide this morning - addressed to me, the kids, the cat, etc. - telling us our Share accounts had been transfered to permanent tsb. They apologised they were unable to give advance notice..... 

They made sure to tell us



> You should note that, on transfer, you ceased to be a member of the Society in respect of any share accounts included in the Savings and Investment account(s) held by you with the Society


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## cavanMan (2 Mar 2011)

For a bank that is bandjacked is surprised they are spending so much letters and posting!!


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## IsleOfMan (2 Mar 2011)

So much for the great "Mutuality" concept. The EBS has spent years bleating on about this and look what has happened to them as well. Those in charge creamed it while they were there and two fingers to the rest of us.


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## Knuttell (2 Mar 2011)

IsleOfMan said:


> So much for the great "Mutuality" concept. The EBS has spent years bleating on about this and look what has happened to them as well. Those in charge creamed it while they were there and two fingers to the rest of us.



Just about sums it up.


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## jpd (2 Mar 2011)

Could say the same for Bertie & Co.


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## Lightning (2 Mar 2011)

IsleOfMan said:


> So much for the great "Mutuality" concept. The EBS has spent years bleating on about this and look what has happened to them as well. Those in charge creamed it while they were there and two fingers to the rest of us.



Mutuality in Ireland is long since dead. 

Maybe these letters will be final wake up call for anyone who may be still disillusioned into thinking that a windfall may still be possible. PTSB may loose deposits just as the transfer begins.


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## roker (3 Mar 2011)

Kept my share account for about 20 yrs thinking I will get a windfall, I got a letter yesterday telling me that I am no longer a shared account holder, Thanks to Mr Fingers for holding on all these years, he got his €8 m


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## Lightning (3 Mar 2011)

roker said:


> Kept my share account for about 20 yrs thinking I will get a windfall, I got a letter yesterday telling me that I am no longer a shared account holder, Thanks to Mr Fingers for holding on all these years, he got his €8 m



So are you taking your money out of PTSB now that a windfall has formally been written off?


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## roker (4 Mar 2011)

I only have the minimum required in the share account, I am still receiving a decent interest on the other account


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## Lightning (4 Mar 2011)

roker said:


> I only have the minimum required in the share account, I am still receiving a decent interest on the other account



There is no minimum anymore, keeping 20,000 EUR + in a so-called "share account" may not be the best place to keep your money.


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## SoylentGreen (5 Mar 2011)

CiaranT said:


> PTSB may loose deposits just as the transfer begins.


My local PTSB branch opens at 10.30 a.m. on a Wednesday.  They were still not answering the phone last Wednesday 5 minutes after 10.30. There was an answering machine telling me to ring back at 10.30. I contacted their head office only to be left on hold after speaking to a customer rep. Dreadful customer service. As the transfer of customers begins I can only imagine the trouble that customers find themselves in trying to make contact.

As regards the EBS. They transferred their business to Burlington Road. I wonder how much it is costing them to keep their old Head Office in Westmoreland Street.


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## Complainer (5 Mar 2011)

CiaranT said:


> Mutuality in Ireland is long since dead.


Perhaps somebody should tell the 2.9 million credit union members who share ownership of their local mutual financial institution.

I closed my INBS account on Monday. They didn't even ask me if I wanted cash or cheque - just handed over the cash straight away.


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## roker (5 Mar 2011)

CiaranT: It does not matter how much you have/had in your shared account, the shared account is no more.
Compainer: When I tried to draw money out a few weks ago they said I could only have €3,000 a day


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## Complainer (5 Mar 2011)

roker said:


> Compainer: When I tried to draw money out a few weks ago they said I could only have €3,000 a day



I was under that threshold.


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## Lightning (6 Mar 2011)

roker said:


> CiaranT: It does not matter how much you have/had in your shared account, the shared account is no more.



The share account still exists in the sense that PTSB still have customers with old "INBS share accounts" deposit accounts but they obviously do not offer shares. My point was that anyone who still has one of these accounts may be best off closing them now.


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