Bank Guarantee scheme and An Post Deposit Account is it covered?

[Polly 123]

I have read a few threads here but I am still confused so hope someone can confirm.

Am I correct in thinking that all money in an An Post Account is covered by the government or is it specific accounts only? Or is it only covered to a max of €100k like the bank guarantee scheme, thanks

 

[Freelance]

Individual depositors are covered up to the individual deposit limit which is €250,000.

The Deposit Account (Post Office Savings Bank) is a State Savings product, operated by An Post. Product details are here and there is a link on the page to the guarantee details.

The repayment of all Ireland State Savings money, including Prize Bonds, is a direct, unconditional obligation of the Irish Government. This is separate from the bank deposit guarantee scheme (DGS).

 

[Polly 123]

Individual depositors are covered up to the individual deposit limit which is €250,000.

The Deposit Account (Post Office Savings Bank) is a State Savings product, operated by An Post. Product details are here and there is a link on the page to the guarantee details.

The repayment of all Ireland State Savings money, including Prize Bonds, is a direct, unconditional obligation of the Irish Government. This is separate from the bank deposit guarantee scheme (DGS).

Thank you freelance for the clarification.

 

[PMU]

Am I correct in thinking that all money in an An Post Account is covered by the government or is it specific accounts only? Or is it only covered to a max of €100k like the bank guarantee scheme, thanks

Just to clarify, the Post Office Savings Bank product Book Based Deposit Account | Products | Ireland State Savings, and all other State Savings products An Post Money | Money | An Post are direct unconditional obligations on the Irish state. Are my Ireland State Savings products guaranteed? | Ireland State Savings.

Other accounts, such as the Current Account, are not covered by the State Guarantee or by the Deposit Guarantee Scheme. What We Cover . An Post makes this point clear in its terms and conditions “Your funds are managed by An Post. Since we are not a Credit Institution, your funds are not covered by the Deposit Guarantee Scheme in Ireland. However, we place customers' funds in segregated accounts (known as 'safeguarding' or 'client funds' accounts) with Financial Institutions that are approved by the Board of An Post to accept An Post deposits and that are authorised to operate in Ireland as a Credit Institution, in line with EU regulations and supervised by the Central Bank of Ireland. This means that your funds are separated from our other assets and can be used to repay you and other customers in the unlikely event of our insolvency. “Current Accounts Ireland | An Post Current Account

 

[Polly 123]

Thank you PMU, that's where my confusion arose as to which ones were or were not covered.

 

[PeeBee]

Individual depositors are covered up to the individual deposit limit which is €250,000.

The Deposit Account (Post Office Savings Bank) is a State Savings product, operated by An Post. Product details are here and there is a link on the page to the guarantee details.

The repayment of all Ireland State Savings money, including Prize Bonds, is a direct, unconditional obligation of the Irish Government. This is separate from the bank deposit guarantee scheme (DGS).

 

[foxy444]

If my child is under 7 years old is there any way of withdrawing money ?

 

[ClubMan]

Any use?

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