Investec to Return Customer Deposits

Got letter today .damn ....
Following Rabo, uk nationwide and Leeds building society ....
So much for choice and competition ..!!!
 
Got letter today .damn ....
Following Rabo, uk nationwide and Leeds building society ....
So much for choice and competition ..!!!

Is there a list anywhere of the deposit takers that have left the market?

Important to know when discussing lack of competition.
 
I have a particular problem, as I have Australian dollars in Investec. They won't release them to my account in Transferwise, the account has to be in my name. Any AUD$ I can set up in Ireland seems easy enough to get the funds into, but almost impossible to get out. Has anyone else managed this successfully?
 
Silly question; would they give them to you in cash?

Investec don't do cash, alas, only transfer to another bank account. I will ask about a bank draft.
 
Raisin carry on makes a joke of single eu market ......
And it's more or less impossible, to open in other eu country if not living there ....
Compliance rule the world !!!
 
Raisin carry on makes a joke of single eu market ......

Raisin managed to launch in all but 2 EU countries. Raisin put the blame with the CBI. The CBI will say they are protecting consumers. It does seem bananas that one needs authorisation in Ireland to operate deposit accounts even if one has authorisation in other member states.

And it's more or less impossible, to open in other eu country if not living there ....

Yeah, there is far from a pan European consumer banking market for deposits and mortgages. Huge barriers to change this including vast arrays of local country specific property rights laws.
 
The Sunday Independent reports that Investec Ireland might change it's mind on returning deposits.

It views 22 February 2019 as the drop dead date. If there is no Brexit 'transitional agreement' in place by that date then deposits will be returned by 8 March.

They are taking things to the wire.
 
Back
Top