UK deposit protection limit to rise.

J

jawkneegee

Guest
The uk deposit protection limit will rise to the equivalent of 100,000 euro from the first of january 2011 according to bbc news.
Good news for uk banks operating here, not so good for irish deposit takers.
 
Does this cover Ulster Bank?
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Nope, the Irish guarantee already covers Ulster Bank (operating in the Republic) to €100k.

Off the top of my head this change would raise the guarantee for Investec and Nationwide UK. And any other institution not already covered by the Irish guarantee scheme, i.e. not listed at [broken link removed]
 
Does anyone know what the exact GBP figure will be?

The Financial Services Compensation Scheme has revealed that the deposit protection limit for savings is to be increased, offering consumers more protection.

As of January 1st 2011, the limit will increase from £50,000 to the equivalent of €100,00, which is estimated at around £84,450.
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If the cost of supporting the Irish Banks become impossible and the Gov can't service the bank guarantees, so maybe offer 50p or 5p in the Euro, will deposits in Ulster Bank, Northern Rock or Rabo Bank be safe?
 
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