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What Happens if My Bank Goes Bankrupt?

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    #32
    arctictree
    Registered Users Posts: 4,293 ✭✭✭arctictree


    What happens if I owe the tax man 20K, am about to pay and my bank goes bust?!


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    #33
    NinjaTruncs
    Registered Users Posts: 2,466 ✭✭✭NinjaTruncs


    From the above info, you will get 18K back of your savings to pay off your tax, but you will still owe 2K to the taxman. I doubt the taxman will care how you lost your money he will still want paying

    4.3kWp South facing PV System. South Dublin



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    #34
    thetyreman
    Banned (with Prison Access) Posts: 451 ✭✭thetyreman


    arctictree wrote: »
    What happens if I owe the tax man 20K, am about to pay and my bank goes bust?!
    As you said you owe te tax man 20k.


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    #35
    Zoodlebop
    Closed Accounts Posts: 172 ✭✭Zoodlebop


    What if I have a small overdraft with the bank. Would another bank buy it off them? (Say €2000)


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    #36
    Victor
    Registered Users Posts: 78,301 ✭✭✭✭Victor


    Zoodlebop wrote: »
    What if I have a small overdraft with the bank. Would another bank buy it off them? (Say €2000)
    Possibly. But realisticly the facility will be withdrawn and they will want cash.


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    #37
    jmayo
    Registered Users Posts: 13,129 ✭✭✭✭jmayo


    From doing basic checks the best Irish bets regarding guarantee of savings seem to be the Post Office.
    Apart from that you are looking at foreign options: Northern Rock - Bank Of England guaranteed, RaboDirect - Dutch guaranteed or NIB - Danish guaranteed.
    So much for good old Ireland, we guarantee the EU minimum which AFAIK was set back in 1995.

    So much for our government and Central Bank being on top of things.
    This is yet another case where the government should get off it's ass and up the guarantees becuase people are withdrawing deposits and moving them out of Irish banks.
    I know I am.


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    #38
    Gareth37
    Closed Accounts Posts: 909 ✭✭✭Gareth37


    jmayo wrote: »
    From doing basic checks the best Irish bets regarding guarantee of savings seem to be the Post Office.
    Apart from that you are looking at foreign options: Northern Rock - Bank Of England guaranteed, RaboDirect - Dutch guaranteed or NIB - Danish guaranteed.
    So much for good old Ireland, we guarantee the EU minimum which AFAIK was set back in 1995.

    So much for our government and Central Bank being on top of things.
    This is yet another case where the government should get off it's ass and up the guarantees becuase people are withdrawing deposits and moving them out of Irish banks.
    I know I am.

    I think everyone is at this stage. :pac:

    The guy in the post office was laughing at me when I asked if there was any chance of An Post going bust too :pac:


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    #39
    PullMyFinger!
    Closed Accounts Posts: 2,281 ✭✭✭PullMyFinger!


    Scary reading.

    I have my life savings in one building society. Time to diversify?


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    #40
    PullMyFinger!
    Closed Accounts Posts: 2,281 ✭✭✭PullMyFinger!


    Its been raised to 100K from the original 20 http://www.boards.ie/vbulletin/showthread.php?t=2055382023


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    #41
    arctictree
    Registered Users Posts: 4,293 ✭✭✭arctictree


    PullMyFinger! wrote: »
    Its been raised to 100K from the original 20 http://www.boards.ie/vbulletin/showthread.php?t=2055382023

    Sorry, but the Government could never pay for such a bail out. Its just an empty promise that they hope the people will believe...


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    #42
    paddyblue
    Registered Users Posts: 169 ✭✭paddyblue


    Are credit unions as safe as the Post Offices?


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