Irish Nationwide and Bank Guarantee Scheme

m_stan

Just got a call from someone in Bank of Ireland (my main day to day bank) asking was I completely happy with the cover under the bank guarantee scheme provided by Irish Nationwide. This is a result of a transfer of funds I sent from BOI to Irish Nationwide. Since I did my homework on this I replied 'yes, I'm happy - why - what is your perspective'. She replied that she is't allowed to respond to that under the data protection act, but that I should check it out and make sure I am happy about them on itsyourmoney.ie.

This frightened me no end, and I checked the site and it confirms what I suspected - Irish Nationwide are covered under the scheme.

This has me highly annoyed.

Is there any reason I should be concerned about having a large deposit in Irish Nationwide? I know they are in the dog-house as an institution and their future is uncertain, but if they are covered under the scheme they are covered, and this BOI person had no right to put my mind in any doubt over it.

ferga_com

This sounds like a pathetic attempt to discredit Irish Nationwide by a sore loser. I'm not a fan of INBS for lots of reasons which are all in the public domain, but I think this sort of "nudge nudge, wink wink" attempt at casting doubt for baseless reasons is incredibly unprofessional.

Just to put her on the spot, tell her you've checked and that INBS are indeed covered in full so what's her point? Ask her also what area of the Data Protection Act is she in danger of breaching as I think this is another red herring.

BuffyBot

Data Protection Act my behind.

Bad form on the BOI employee, it must be said

Toots

BuffyBot wrote: »

Data Protection Act my behind.

Bad form on the BOI employee, it must be said

+1, did you get a name of the person who you spoke to? I'd definitely be making a complaint about that if I were you. You can phone their Customer Care Unit on 1850 753 357 and log the complaint there.

It sounds to me like this person was trying to frighten you into transferring the money back to BOI. That sort of practice is disgraceful, and I speak as a member of BOI staff myself.

Don't let this go, call the Customer Care Unit or your branch and insist that they follow it up.

broker2008

I cannot believe that a bank staff member would do that. It is one thing to try and win business back by showing your own bank's positives but not to slag off another. Very sticky wicket and potential for a serious reprimand at best.

ferga_com

broker2008 wrote: »

I cannot believe that a bank staff member would do that. It is one thing to try and win business back by showing your own bank's positives but not to slag off another. Very sticky wicket and potential for a serious reprimand at best.

Agree completely - and worse to slag off a competitor with an inferred or hinted security issue that simply isn't true. :mad: Thankfully, m_stan had the presence of mind to check for himself...how many others might nor have?

RoadKillTs

I find it very strange that an BOI employee would do that.

stepbar

I've made the calls that the OP is referring to and TBH I find it strange that the staff member would approach the conversation from that angle. I mean if it was me I might start off with enquiring about the interest rate in INBS and then see if we could match it.

But on another point, some people would do anything to get noticed / promoted / lick ass etc in order to get the sales in. Thankfully banking is turning a corner in that regard.

As for the data protection piece, that's pure bullsh1te. Banks / Staff were warned not to use the guarentee as a selling point for gathering deposits. That's why she refused to respond to your question.