Moving All Funds to one Bank?

Pat201

Hello

Currently i have a Savings Account (AIB) and Current Account (Ulster Bank). i want to create a Join account with my partner at AIB. Due to Ulster bank moving from market I also will need to move my current account so AIB is an option. Any risk to having 3 Accounts with 1 Bank , by this i mean scams and what a bank covers . I belive they cover 100K in event of a scam but is that per account or just per account holder?

Pat

ROVER

The Deposit Guarantee Scheme at €100,000.00 covers deposits in Irish owned banks in the event the bank goes bust. Unfortunately it does not cover fraud.

OU812

it's per account. Advisable to keep some funds with another bank in the event of an emergency/system outage

Pat201

Thanks Folks for the info

Atlantic Dawn

I'd keep funds in another bank for emergency or Revolut would be another option. Have been a number of occasions in the last few years with account and card outages that could have left you high and dry for days.

elperello

The DGS covers up to 100k per individual not per account.

https://personalbanking.bankofireland.com/save-and-invest/savings/deposit-guarantee-scheme/

Kat1170

Maximum 100k per person in each affected institution is protected.

ie. 100k in AIB and 100k in B of I and they both go bankrupt, you're covered for 2x 100k

If you have 127k in a banking institution that goes bankrupt, you're only covered for 100k of it.