Regarding the best deposit rates shown on AAM and taking into account the 100k guarantee. In simple terms are they bullet proof or are there still concerns around safety of funds.
Thanks but really looking at the rates offered by Raisin etcIrish banks are objectively in very good health and there is a deposit guarantee fund as well as a large fund at EU level to refund depositors if a bank fails.
Even if these prove insufficient I cannot see a government allowing sub-€100k depositors ever being touched. The government would step in and claw it back by way of a levy like with the various insurance failures down the years.
I have some professional expertise in this area and have no worries whatsoever depositing €100k with any Irish bank.
The EU framework for deposit guarantees is pretty standard.Thanks but really looking at the rates offered by Raisin etc
Warning: Have you been approached with an Investment Opportunity?
Fraudsters are impersonating Barclays to scam individuals and businesses.
Be alert for any investment opportunities (e.g. mortgage, investment bonds, online trading) offered to you by someone claiming to be a Barclays Representative – it could be a scam.
What to do if you are approached with an investment opportunity
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What to do if you think you've been scammed
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If you have been the victim of a fraud or scam (e.g. Investment/Romance/Inheritance/Marketplace scam) that isn’t related to a Barclays product, but have made a payment to a Barclays account, contact your bank immediately. They will take steps to investigate the receiving accounts and retrieve funds wherever possible. You should also file a complaint with local police who will contact us directly should an investigation be launched. Barclays Bank will fully co-operate and assist with any Law Enforcement enquiries.
Remain vigilant for further approaches
If you have interacted with fraudsters it is likely that they will attempt to contact you again, but through a different approach. This includes scenarios such as pretending to be a solicitor, law enforcement or the fraud department of your bank looking to retrieve any lost funds, therefore it is important that you maintain vigilance when being contacted by a third party.
This has been discussed on AAM before. You can read all about the deposit guarantee scheme here: https://finance.ec.europa.eu/banking-and-banking-union/banking-regulation/deposit-guarantee-schemes_en#:~:text=Under EU rules, deposit guarantee schemes protect depositors',first directive for DGS was introduced in 1994.I've no trouble believing an EU guarantee will work.
But we don't really know what happens if a guarantee is called on, do local depositors get sorted out first, how long will it take, how much bureaucracy will be involved.
The guarantee is fine - but you still do not want to ever have to use it.
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