# Is the deposit guarantee scheme likely to remain valid if the banks fail during a pandemic?



## Davetherave (14 Mar 2020)

I have a few grand in the credit union and a few in the bank. My mother has thousands in her AIB account from life savings (terrible investment strategy, I know but oh well, she doesn't listen to me). I don't know much about the deposit guarantee scheme except that it's meant to guarantee deposits up to €100k. I wonder though if pandemics were ever taken into account for this scheme? If the economy tanks due to coronavirus and banks start to fail, will the deposits still be guaranteed by the government? Or would they be likely to use the pandemic as a reason not to pay?


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## Silvius (16 Mar 2020)

I imagine that An Post State Savings is the safest of all now. If that turns out to be not guaranteed then we're all fecked. I have an elderly relative who is worried about her savings so have advised her to put it in the post office and she's also withdrawing some extra cash, more for a feeling of safety than anything else.

In answer to your question about whether the bank guarantee will hold...I don't know, I'm not sure anyone can answer that. But I'd say that the 'pillar banks' of AIB and B of I should be safer than the foreign banks. Just my 2 cents.


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