Anglo and Irish Nationwide Deposits have been transferred

INBS clearly indicate on their website that they are not accepting new deposits.

I am informed that Anglo is not accepting new deposits. Can anyone confirm this?

Best buys are updated.
 
Article in The Sunday Times that AIB will keep the Old Anglo deposits in a special division and brand it - maybe like an online bank with high interest rates?
I only heard this on the radio and did not see the article.
 
Yeah, I saw that Sunday Times article.

AIB was always in a catch 22 situation. They needed to offer high deposit rates to attract new deposits but did not want to offer high rates to all their large existing customer base. Their solution seems to be dual branding for deposits.
 
Got my first letter from AIB in relation to my Anglo Deposits - nothing further to report. I was not previously an AIB Customer and was wondering if People already with AIB before Anglo move of Deposits got a different letter.
 
i am an existing aib account holder and got the same letter welcoming me to aib
 
Got my letter from Anglo today in relation to my Deposits and telling me AIB will be writing to me shortly. AIB abit quick to send the letters out - first mistake. I should have got the Anglo letter first.
 
I got the Anglo letter on Tuesday and the AIB letter yesterday, so they weren't leaving too much of a gap between both letters!
 
Ciaran T, re: your answer 220211 to corkmike


From itsyourmoney.ie:

Deposit guarantee scheme 100k per person per institution, no end date.

Government guarantee (eligible liabilities guarantee) over 100k per person per institution until 30th June 2011. An announcement will be made before that date if it is to be extended. Fixed term deposits covered for up to 5 years if made before that date.

So, if someone had deposits of 100k in AIB and Anglo, and, as a result of transfer of the Anglo deposit to AIB the total amount in AIB is 200K it appears not to be true that the transferred deposit continues to receive protection under the deposit guarantee scheme as it did in Anglo because it exceeds 100K. If left in a demand deposit account it will not be covered by the eligible liabilities guarantee after 30th June 2011 unless the eligible liabilities guarantee is extended. If I'm wrong about this please clarify.
 
rob67 said:
So, if someone had deposits of 100k in AIB and Anglo, and, as a result of transfer of the Anglo deposit to AIB the total amount in AIB is 200K it appears not to be true that the transferred deposit continues to receive protection under the deposit guarantee scheme as it did in Anglo because it exceeds 100K. If left in a demand deposit account it will not be covered by the eligible liabilities guarantee after 30th June 2011 unless the eligible liabilities guarantee is extended. If I'm wrong about this please clarify.
Click to expand...

You are correct under the Deposit Protection Scheme but as you said all deposits regardless of their amount are guaranteed by the Irish state under the government guarantee/eligible liabilities guarantee that currently expires on June 30th 2011.

At the end of the day, it is 95%+ likely that the government guarantee will be extended beyond June 30th 2011, otherwise there will be another massive flow of deposits out of Irish banks.
 
It would be interesting to see a AIB 'Anglo' or whatever they re-brand it as offer a Current A/c and a Credit Card. Probably unlikely but you never know.
 
Irish Times: No Liquid Market for NAMA Bonds that back up the new AIB and PTSB deposits.

[broken link removed]

The €12.2 billion in deposits were backed by bonds issued by the National Asset Management Agency (Nama), the price of which has been cut by the European Central Bank (ECB) since the deposits transferred on February 25th.

There is no liquid market for the bonds – which were issued to the banks in exchange for land and development loans – but they can be used as collateral to borrow funds from the ECB.
Click to expand...
 
Got my interest statement from INBS share account, = €0.02 I would have prefered they gave me the postage. What a let down from an account that was promising me a windfall of about €11,000 a few years ago.
 
0.02 EUR on an account with a minimum balance of 20,000 EUR. What interest rate is that ?? 0.0001% ?!?
 
The minimum balance is only €150 it's 20 year old. It €20,000 if you required to open an account recently. As I said earlier, it is no longer a share account it is being transfered to PTSB
 
Anyone have information regarding what happens to rolled over fixed term accounts at INBS? Called their helpline on Saturday but couldn't get a proper answer.
I have a 3 month fixed term due to rollover on the 24th March, and another shortly after, apparantly my funds will be reinvested at the "prevailing rate", which could well be zero if PTSB have decided to pull a fast one. In effect it's a new account, so clauses about "current rates" might not apply.

No details of interest rates on either INBS or PTSB websites. Will pull the funds i can't get a proper answer from them.

A pretty shoddy start from PTSB if they want to avoid losing all of these deposts.
 
I phoned INBS re a 12 month term deposit which matures today, and was told PTSB would honour 3.5% if we reinvested with INBS. I have nothing on paper though.
 
Anyone actually get a Bank Statement yet showing AIB or PTSB rather than Anglo which I got or INBS?
 
Gervan said:
I phoned INBS re a 12 month term deposit which matures today, and was told PTSB would honour 3.5% if we reinvested with INBS. I have nothing on paper though.
Click to expand...
I went into a branch on Friday 18th and the clerk said the same thing to me. The rate stays the same until it roll-overs, which for me is June. I presume then the rate will be whatever PTSB have at that time.
 
You must log in or register to reply here.
Back
Top