# What institutions are guaranteeing savings > 100k ?



## newseeker1 (21 Sep 2008)

Is An Post the only financial institution that is guaranteeing investors desposits greater than 100k.  If so is there a maximum ceiling they offer guarantee up too or is 100% of your money guaranteed with them regardless of the amount (say up to 400k or more)

Are there any other financial institutions guaranteeing savers money greater than 100k.  See some threads mentioning Northern Rock but cant see anything on their site to this effect. Anyone got any details on this and the guarantee NR are offering  

Thanks


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## Brendan Burgess (21 Sep 2008)

*Re: What institues are guaranteeing savings > 100k ?*

Yes, An Post savings are fully guaranteed without limit.

The UK government guarantees the Northern Rock deposits without limit. However, they are not allowed use it in their marketing.

Brendan


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## ClubMan (21 Sep 2008)

*Re: What institues are guaranteeing savings > 100k ?*

The _Northern Rock _website clearly outlines the _UK Treasury/Bank of England _backed 100% guarantee of deposits and interest.

And remember - _PostBank _is not _An Post _when it comes to state guarantees.


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## newseeker1 (21 Sep 2008)

Thanks for the replies
Where on the Northern rock web site does it say _'the UK Treasury/Bank of England backed 100% guarantee of deposits and interest.'_

_I can see reference at [broken link removed] that says the following indicating only up to certain amount is guaranteed_
*Financial Services Compensation Scheme (FSCS)*

_Payments under the Scheme are limited to 100% of the first £35,000 (at the prevailing Euro equivalent) of a depositor's total deposits with the bank. The Scheme limit relates to each depositor for their combined deposits held with Northern Rock and not for each account. Further details of the Scheme are available upon requ_est.​Also is the 100% guarantee applicable to Republic of Ireland Customers or is it just applicable to UK customers?

Thanks


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## OPTIMUM (21 Sep 2008)

Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?


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## soy (22 Sep 2008)

OPTIMUM said:


> Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?



They are not supposed to use the HM guarantee as a marketing tool. Competitor banks could challenge it as an unfair competitive advantage under EU law.


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## newseeker1 (22 Sep 2008)

So, can anyone confirm if Northern Rock *do* guarantee 100% of person savings with them for saving based in Republic of Ireland up to and exceeding amounts of 100k or have they a ceiling up to which they only guarantee savings too ?

Thanks


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## Fitz26 (22 Sep 2008)

OPTIMUM said:


> Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?



It is there under the Your Questions answered Link.

[broken link removed]


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## Jethro Tull (22 Sep 2008)

its in their FAQ section [broken link removed]


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## Joody1 (22 Sep 2008)

Not sure if this helpful as it applies to the UK regarding NR



Joody1


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## ClubMan (22 Sep 2008)

OPTIMUM said:


> Just checked Northern Rock Ireland website and there is no mention about HM protection anywhere....the power of AAM ?


Wrong - see above.


scotty1 said:


> Thanks for the replies
> Where on the Northern rock web site does it say _'the UK Treasury/Bank of England backed 100% guarantee of deposits and interest.'_


Ditto.


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## PaddyW (29 Sep 2008)

Look at Fitz26' link :

*[broken link removed]*

 							 			                Yes. The UK Government has put guarantee arrangements in place for all Northern Rock savers. These protect all savers in all accounts, regardless of the amount deposited and apply to all existing and new accounts. The guarantee arrangements will remain in place during the current instability in the financial markets and HM Treasury will give reasonable notice (no less than three months) of any termination of these arrangements.


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## DjembaDjemba (29 Sep 2008)

Hi AAM, Could anybody tell me if Investec Bank are covered by the irish governmernt 100K bail out promise?


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## newseeker1 (30 Sep 2008)

So, what does this morning announcement actually  mean in laymans terms?

Am i right that it means that 100% of depositors money is 100% guaranteed now by the government with no upper ceiling level even if deposit is > 100k for irish owned financials as follows:

AIB
BoI
Anglo Irish
Irish Nationwide
EBS
Permanent TSB

right...????

and that the 100k guarantee still applies to finanicals like

First Active
Halifax
Rabo (covered by Dutch banks scheme up to about €40k)
NR (100% guarantee of 100% of depositor savings even > 100k covered by UK guarantee scheme)

Thanks


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## Joody1 (30 Sep 2008)

scotty1 said:


> So, what does this morning announcement actually  mean in laymans terms?
> 
> Am i right that it means that 100% of depositors money is 100% guaranteed now by the government with no upper ceiling level even if deposit is > 100k for irish owned financials as follows:
> 
> ...



ICS is owned by the BoI are they covered by the BoI for depositors 

Joody1


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## ClubMan (30 Sep 2008)

Well according to www.itsyourmoney.ie:

What is covered under the [deposit guarantee] scheme? 


> Some banks that operate in Ireland are regulated in their home country and operate here under EU rules. These banks include Danske trading as National Irish Bank, which is part of the Danish Guarantee Fund for Depositors and Investors, Northern Rock, which is currently under guarantee arrangements with the Bank of England and HM Treasury and Rabobank, which is part of the Dutch Deposit Guarantee Scheme.


and

Government Decision to Safeguard Irish Banking System


> The Government has decided to put in place with immediate effect a guarantee arrangement to safeguard all deposits (retail, commercial, institutional and interbank), covered bonds, senior debt and dated subordinated debt (lower tier II), with the following banks:
> 
> Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society and such specific subsidiaries as may be approved by Government following consultation with the Central Bank and the Financial Regulator.


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## Askar (30 Sep 2008)

Does this also cover the BoI joint venture with UK Post Office in the UK i.e. are irish taxpayers also potentially guaranteeing existing 1.5 million UK depositors and any future deposits with UK Post Office?


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## Guest124 (30 Sep 2008)

Askar said:


> Does this also cover the BoI joint venture with UK Post Office in the UK i.e. are irish taxpayers also potentially guaranteeing existing 1.5 million UK depositors and any future deposits with UK Post Office?


 

- Yes!


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## RaboDirect (7 Oct 2008)

scotty1 said:


> So, what does this morning announcement actually mean in laymans terms?
> 
> the 100k guarantee still applies to finanicals like
> 
> ...


 
The Dutch government has agreed to increase its deposit protection guarantee to €100,000. This guarantee applies to RaboDirect which is regulated by the Dutch Central Bank.

For more information visit:

[broken link removed]


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