halifax refuse irish goverment guarantee

ntlbell

what does this mean now for irish folk that have their savings in halifax?

will they be covered by the british one?

unclebill98

ntlbell wrote: »

what does this mean now for irish folk that have their savings in halifax?

will they be covered by the british one?

Well there still cover up to 100k per person with the added features of the UK government scheme.

Jet Black

People will only hear 'Halifax are not covered by the Irish guarantee, despite being offered to join'

Not a good move. I know they dont want to enter because the cost, but I think there is another reason behind this.

Scottie99

heymcflyx wrote: »

People will only hear 'Halifax are not covered by the Irish guarantee, despite being offered to join'

Not a good move. I know they dont want to enter because the cost, but I think there is another reason behind this.

I think the Irish Government was trying to place a lot of restrictions on the bank. They felt it would make them less competitive in the marketplace.

Why is it not a good move and what is the other reason?

Genghis

There is some precedent here. NIB have already opted out. AFAIK Rabobank never even applied to join it. Has there been any impact of their decision on their business?

Interestingly, before any scheme was announced, Northern Rock was the safest place to put your money as the British Government had nationalised them. The British Government have since part-nationalised all major UK Banks, so presumably the same logic could apply?

Also, there is speculation in the Independent today that Ulster Bank might well follow Halifax; though I would think that is more risky for them as a) they are much larger in Ireland, Ulster & First Active and b) Halifax are able to tout their merger with Lloyds for assurance.

daveirl

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