Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

EBS

Options
  • 12-02-2009 1:38pm
    #1
    banjobongo
    Registered Users Posts: 1,371 ✭✭✭


    I have whats left of my SSAI in the EBS. Myself and wife are getting increasingly nervous about all the doom and gloom re the bad debts that the banks have. I know that the government/state has a deposit guarantee, but in the worst possible case scenario of banks/building societies (like the EBS) going bust and the government/state not having sufficient funds to cover every saver in Ireland, is it possible that I could lose my money, would it be safer under the proverbial bed? Or I am talking total and utter nonsense (hope I am!)?
    (And I am aware of the "Its a Wonderful Life" type run on the banks scenario if everybody in Ireland took out their money and I would hate to see this happen, but I would also hate to lost my savings!)
    So, my question is, are my savings 100% secure no matter what happens?


Comments

  • Options
    #2
    jor el
    Closed Accounts Posts: 16,713 ✭✭✭✭jor el


    banjobongo wrote: »
    So, my question is, are my savings 100% secure no matter what happens?

    Up to 100,000 euro, yes.


  • Options
    #3
    Pythia
    Registered Users Posts: 7,469 ✭✭✭Pythia


    jor el wrote: »
    Up to 100,000 euro, yes.

    Why this figure?


  • Options
    #4
    hutchoeire
    Closed Accounts Posts: 5 ✭hutchoeire


    Pythia wrote: »
    Why this figure?


    100K is the amount you are covered for under the Investors Compensation Scheme........... This was increased from 20K recently


  • Options
    #5
    dudara
    Registered Users Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions


  • Options
    #6
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    jor el wrote: »
    Up to 100,000 euro, yes.
    hutchoeire wrote: »
    100K is the amount you are covered for under the Investors Compensation Scheme........... This was increased from 20K recently

    Wrong. 100k applies to deposit takers not covered by the Government Guarentee Scheme (those institutions covered by a foreign scheme which offers better protection fall under same scheme). EBS is covered under the Government Guarentee Scheme which guarentees 100% the deposits of customers.

    See post - http://www.boards.ie/vbulletin/showthread.php?p=58718004#post58718004


  • Advertisement
  • Options
    #7
    Pythia
    Registered Users Posts: 7,469 ✭✭✭Pythia


    That's what I thought, yes.


  • Options
    #8
    hutchoeire
    Closed Accounts Posts: 5 ✭hutchoeire


    stepbar wrote: »
    Wrong. 100k applies to deposit takers not covered by the Government Guarentee Scheme (those institutions covered by a foreign scheme which offers better protection fall under same scheme). EBS is covered under the Government Guarentee Scheme which guarentees 100% the deposits of customers.

    See post - http://www.boards.ie/vbulletin/showthread.php?p=58718004#post58718004


    only for the next two years......then the investors compensation scheme will be back in play


Advertisement