# how safe is ulster & Kbc banks



## Bigmc (17 Feb 2011)

Hi all

I have a good size account matureing with INBS soon & am thinking of splitting it between Ulster Bank & KBC Bank both offoring 3.5% for 1 year term.

Im just wondering how safe both these banks are & are they safer than the Irish banks, do they have better gaurantees being foreign banks?

Thanks in advance


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## ruthypoo (21 Feb 2011)

Ulster Bank is protected by the Irish Deposit Government Guarantee I think - and its to €100,000. KBC Bank is also protected by this Deposit Guarantee scheme.
Ulster Bank is something like 84% owned by Royal Bank of Scotland; KBC Bank I do not know if there is a parent banking institution in the background.....

To answer your question as to how safe are each?

Well probably safer than BOI and Anglo and AIB in terms of locating your savings with Ulster and KBC. By this I mean if a Banking Default occurs then I don't think either Ulster or KBC may be affected..........
However with regard to a Soverign Default well then probably the only "safe" option could be offshore banking?

I personally have savings with Ulster which I moved from a Irish Bank - as an immediate safety measure it may be prudent to move to Ulster or National Irish Bank? 

I too would be interested in seeing what other people think about Ulster or KBC...

Ruth.


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## mercman (21 Feb 2011)

ruthypoo said:


> Ulster Bank is something like 84% owned by Royal Bank of Scotland; KBC Bank I do not know if there is a parent banking institution in the background.....



INCORRECT. Ulster Bank is 100 % owned by Royal Bank of Scotland which is 84% owned by the UK Government. 

KBC Ireland are part of KBC Bank, which is one of the worlds largest Banks. They are an enormous Bank.

I Bank with both of them and find them fine to deal with. Personally I have no real interest in making Bankers my best friends thank you. Some people prefer to wine and dine with their Bankers. I didn't in the boom and have little desire or intention to start now. We all know the story - A Banker will give you an umbrella when the sun is shining and ask you back for it as soon as it starts peeing rain. I would say there are plenty of brollies changing hands at the moment.


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## bambam (22 Feb 2011)

Dear All,

In terms of safe foreign (offshore) banks I have been advised to look at Luxembourg.  However, do any users have any sound advice in terms of other opportunities e.g. Germany etc...  dont care about rates just want my few quid to be guaranteed and be there tomorrow, concerned about what is happenign here.  Have lost money on bank shares, dont want to wake up to find my deposit gone!!

Luxembourg is also difficult to get flights to/from.

Sound advice appreciated.


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## horusd (22 Feb 2011)

Have a look at keytrade Luxembourg. There are posts about this already on AAM.

See here:http://www.askaboutmoney.com/showthread.php?t=149207&highlight=keytrade+luxem

No need to travel there, all done online & post apparently.


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