M
Mac80
Guest
Hi
My father has lodged his life savings in 2 AIB Special Term deposit A/C's, a 3 and a 5 year account.
His 3 Year account will mature in October next year, both accounts were opened at the same time.
He is 59 years of age and is very worried that with all the talk of AIB going to the wall and the threat of the country going broke that he will lose his savings, he cant sleep with the worry.
He has met the bank and they are refusing to let him withdraw his money as per T&C's.
I have a few questions
1: Can someone please tell me should he be worried about losing his money?
2: I understand that the banks are state guaranteed but what happens if the IMF come in next year, does that state guarantee still stand then?
3: Can the bank really refuse to allow him to withdraw his money under these circumstances?
Thanks in advance
Mac
My father has lodged his life savings in 2 AIB Special Term deposit A/C's, a 3 and a 5 year account.
His 3 Year account will mature in October next year, both accounts were opened at the same time.
He is 59 years of age and is very worried that with all the talk of AIB going to the wall and the threat of the country going broke that he will lose his savings, he cant sleep with the worry.
He has met the bank and they are refusing to let him withdraw his money as per T&C's.
I have a few questions
1: Can someone please tell me should he be worried about losing his money?
2: I understand that the banks are state guaranteed but what happens if the IMF come in next year, does that state guarantee still stand then?
3: Can the bank really refuse to allow him to withdraw his money under these circumstances?
Thanks in advance
Mac