Should I move my deposit out of IN

D

DavidMcFrl

Guest
Hi. Is there even the remotest chance of me losing my deposit in Irish Nationwide? I'm starting to get worried!

When we bought our house two years ago, we borrowed more than we needed, with the aim of doing up the house as soon as we moved in. Pretty much straight after closing the sale, the economy started to go pear shaped, so we have kept the 40K on deposit and will do the house up at a later stage with that money. The cash is in Irish Nationwide. It is earning decent interest, and we're paying a .75% tracker, so we're better off not using it to pay off the balance.

So back to the initial question. Should I put it into something like Rabo, which would seem to be 100% safe. Is there any chance that I might not get my money? Thanks.
 
I'd say work out the amount of extra interest you are getting (probably no more than a hundred or two annually) read around here to asses the risk and make your own decision. These are not jsut financial questions but I'd say there must be at least some miniscule risk for INBS and Anglo if the ECB is getting fed up pumping money in and we have none
 
Is your account with a different bank then to Nationwide UK?
Plenty threads about putting money there as they are "safer" than most
 
DavidMcFrl said:
Hi. Is there even the remotest chance of me losing my deposit in Irish Nationwide?
Click to expand...

Remote chance? Yes. INBS are insolvent without ECB and ICB support. They are in serious trouble and their future is open to question. However, most likely, the IMF/EC money will be used for INBS and other banks to bail them out further.

DavidMcFrl said:
So back to the initial question. Should I put it into something like Rabo, which would seem to be 100% safe. Is there any chance that I might not get my money? Thanks.
Click to expand...

Have you considered Nationwide UK?
 
Oli Rehn talking about a restructuring of banking, presumably this means anglo and INBS and also the third banking force?
 
mmclo said:
Oli Rehn talking about a restructuring of banking, presumably this means anglo and INBS and also the third banking force?
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Nobody knows for certain what he means by restructuring Irish banks. We should know inside the next 10 days, according to the BBC.
 
tosullivan said:
Irish Nationwide & Natiowide UK Ireland are 2 totally different banks?
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Yes, Nationwide UK are a solvent big bank with a good credit rating.

INBS have a very low credit rating and are dependent on Irish state support to survive.
 
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