RaboDirect: do they have "trustee status"?

Re: RaboDirect

I got my answer from RaboDirect, they do not have Trustee Status, ie Guarnteed by the state
 
Re: RaboDirect

Deposits with RaboDirect (and Northern Rock) are underwritten by deposit protection schemes in their home countries. They are as safe as the Irish banks (if not safer.).
 
Re: RaboDirect

MugsGame is right...there have been numerous threads on this issue ; in fact a representative of Rabo has posted in some of them.
 
Re: RaboDirect

I think I'll stick with the Irish banks "the devil you know is better then the devil you don't know." After all we'ev seen the state bail out the banks and insurence company at home.
 
Re: RaboDirect

Roisinb said:
I think I'll stick with the Irish banks "the devil you know is better then the devil you don't know." After all we'ev seen the state bail out the banks and insurence company at home.
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That's just what they want...they profit from people's conservatism!
Rabo are bigger than AIB and BOI combined!
 
Re: RaboDirect

justsally said:
Does RaboDirect issue IBANs to it's customers.
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I don't think so because the FAQ says:
Can I transfer money internationally ?
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You cannot transfer money internationally to or from your RaboDirect Accounts.
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>
In respect of the other parts of this thread, I fully agree with KalEl's assessment.

Rabbo is actualy controlled by 2 financial watchdogs, in the Netherlands where they are licensed and in Eire where the Financial Regulartor is also keeping an eye on them.
 
I was just about to open a savings account with Rabo until I saw this post. Does anyone know who is the next best to Rabo? EBS SureCerts offer 17% over 4 yrs gross.
 
Originally Posted by Roisinb
I think I'll stick with the Irish banks "the devil you know is better then the devil you don't know." After all we'ev seen the state bail out the banks and insurence company at home.
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Its silly in my opinion to have a problem with Rabo just because they are not Irish. The level of protection for your money is at least the same. Why assume Rabo is 'also' a devil like the ones we've been stuck with for decades and not a saint for us ;) ?

I was just about to open a savings account with Rabo until I saw this post. Does anyone know who is the next best to Rabo? EBS SureCerts offer 17% over 4 yrs gross.
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I doubt you can transfer money internationally with EBS sure certs. In fact thats even less mobile. I cant get even a direct debit to connect with any of my EBS accounts. The staff tell me they just dont do it!
 
Irish Bank Desposit scheme covers 90% of deposit with a maximum payout of 20,000€.

Dutch Bank Deposit scheme covers 100% of deposit on the 1st 20,000€ and than 90% on further 20,000€.

So my irish bank goes down with my 10,000 € and I get 9,000€ and my dutch bank goes down with 10,000€ I get 10,000€.

Even worse if I have 40,000€, Ireland gives me 20,000€ and Dutch gives me 38000€. Full 18,000€ more!

Not that I expect any to go down, but just in case...
 
"deposit protection schemes in their home countries"

I misunderstood this to mean it doesn't cover ireland - I have come around to the idea since. I emailed Rabo and they confirmed that 3.75% rate would apply from 01.01.08 onwards. the interest is also applied daily so you don't lose out if you withdraw some funds early.
 
I have now successfully opened up my Rabo Direct Account. Very pleasant experience. I also like the way you get a response within 24 hours when you email them. When you work full time its very hard to getting around to ringing banks and having to hold etc etc
 
I was in contact with Rabo after they moved into Ireland and did not have a positive experience-they would not deal with me as I did not have a utility bill in my name. Strange! According to a Dutch person I work with, Rabo's requirements in their home country are not as onerous as they are here.
 
Try and open an online or postal account with any bank in Ireland and you will meet similar requirements. They are required by law to establish your identity. You don't actually need a utility bill, a bank/credit card statement or letter from Revenue would do.
 
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