shares in a NIB online trading account: How safe if NIB gets in trouble?

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lyonsa3

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I have shares in a NIB online trading account. My shares are split evenly between euro, sterling and US dollar shares.
First of all, how safe are these shares if NIB gets into difficulity.
Secondly, if ireland leaves the euro, how am I placed with reguard to these shares?
 
ParkLane said:
Do they offer the service of getting your shares in certificate form?
Click to expand...

I don't know.

I always thought that was an old fashion way of dealing with shares.
I don't like the idea of having to hold on to paper certificate.
 
NIB is part of Danska bank. As far as I know Danska don't have any problems.
I am not sure about this but I had heard of one sharedealing firm in cork about 2 years ago going bust and people who had shares with them couldnt get their shares back.
I would imagine that if the shares are with a bank then they should be safe, but I would like to hear from other people. It is cheaper for institutions to hold your shares in a sharedealing account because they then pool them with other shares and can rent the shares out - CFD.
You can apply to get paper share certificates but there may be a charge.
This is my understanding, so dont quote me on any of this.
 
You are the owner of the shares, not NIB, most likely they are merely your custodians. So whatever happens 2 NIB ( and given that they are part of the profitable Danske bank it's unlikely anything will happen 2 them) you still own shares in whatever companies you invested in. The shares are held in whatever currency they are traded in, ie $,£,€. Ireland's memberhship of the € should not impact on this one way or other.
 
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