I was just talking to someone in a bank who suggested that no irish bank will go bust....
More than a slight vested interest in suggesting this.
Do remember, it was one of these great bankers who also said that you should avoid all online banks
For my day to day banking I still use one of the mainstreet Irish banks (AIB) and while I would lose a few euro if they went bust, I feel the risk of this happening is low enough for it not to be a concern.
If, however, I had €300k on deposit with them... I would take a very different view of the risks involved.
The strategy of spreading the funds over six accounts is relatively sound (if you don't mind the work involved). It will require some additional work in keeping an eye on everything and making sure all transfers etc. go through as planned, but no reason for this not to be a way forward (e.g. no nasty hidden catches). Do be sure to check the full terms and conditions of any account you open (e.g. do you require another feeder account to set it up, do you need to have salary payments to the account, are there any fees for the account etc.).
You could potentially look at a number of the high interest/regular monthly saver accounts out there which offer higher returns, but again, check the full Ts&Cs as many of the interest rates are only offered for limited periods and with considerable restrictions on the accounts.
...I have a niggling feeling in the back of my mind saying its a bad idea. I know they're 'guaranteed' but I'm not sure i trust this situation fully.
Obviously, before you choose any account you should be 100% happy with the situation. Out of interest, what puts you off the current NR offer? It still does appear to be the best option both in terms of rate and security for your situation.
[I should point out, though I have recommended the account in this situation, I don't actually hold one myself and can't comment on the flexibility/level of service/etc of the account]