Northern Rock

I Have approx 200k with them and its all due to move over to PTSB on 03/01/12. Im not too happy about this, I wonder have members any advice on what to do - should i split it up? move it to Rabo? or take my chances with Irish Banks.

At least split it between two banks.

I'm in the same boat in that I have 20k with them, and all ready have Nationwide UK Ireland account but don't want to put all me eggs in the one basket.

Want to maintain instant access and don't want any of the Irish Banks but I half heard a talk on 5 7 live a few weeks ago where it was kinda saying that RaboDirect may pull out of Ireland.

Don't want the hassle of opening an account if this is true.

If Northern Rock customers do not want their money in 99% state owned PTSB then there is a very limited amount of time left to do something. There are 7 banking business days till the transfer.

pudds said:

Want to maintain instant access and don't want any of the Irish Banks but I half heard a talk on 5 7 live a few weeks ago where it was kinda saying that RaboDirect may pull out of Ireland.

Don't want the hassle of opening an account if this is true.

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Who made that claim on 5 7 live?

I would be highly surprised if RaboBank close their entire Irish operation. RaboDirect pulls in a large amount of deposits/liquidity for RaboBank Netherlands.

None of the recent RaboBank actions point towards closure. They are hiking promotional deposit rates to lure new deposits and they are still aggressively pricing 10 year term deposits. These are not the actions of someone who is about the close their doors.

It is highly likely that RaboBank will shut ACCBank or merge it into RaboDirect at some stage. By all accounts, ACCBank is in wind down mode.

I suspect that we have not seen the last of foreign banks leaving Ireland, but I don't think RaboBank will be upping sticks any time soon.

Who made that claim on 5 7 live?

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Wish I could remember but I was only half listening at the time unfortunately.

As you say there are only 7 banking days left, if ppl want to move, If we wait till after christmas when we become PTSB customers do you forsee any delay in transferring money out or closing our accounts with PTSB is it likely to be a smooth and seemless operation.

pudds said:

As you say there are only 7 banking days left, if ppl want to move, If we wait till after christmas when we become PTSB customers do you forsee any delay in transferring money out or closing our accounts with PTSB is it likely to be a smooth and seemless operation.

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Might be some minor issues. Some INBS customers had problems with transfers post migration to PTSB due to system issues on the PTSB side. Nothing serious.