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Fixed term savings

  • 31-03-2011 5:50pm
    #1
    pugw
    Registered Users, Registered Users 2 Posts: 635 ✭✭✭


    Hi I'm looking for some advice, A family friend has had 100k savings in a fixed term savings account with EBS for the last 12months @ 3.7%. Its ip for renewal soon and he asked me whathe should do, my own instict would be to withdraw half and deposit in a UK institution for safety that way if things really go bust here he will be safe! What are your thoughts on the matter? also is there anywhere in ireland giving more than 3.7% for 12 month deposits. thanks


Comments

  • #2
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    You could have him put it with Ulster Bank or Investec, both operate in Ireland but are regulated by the FSA in the UK, and are covered by their 100k sterling deposit guarentee.


  • #3
    MASTER...of the bra
    Closed Accounts Posts: 411 ✭✭MASTER...of the bra


    Pablo Sanchez wrote: »
    You could have him put it with Ulster Bank or Investec, both operate in Ireland but are regulated by the FSA in the UK, and are covered by their 100k sterling deposit guarentee.
    But he'd have to convert to sterling and open a sterling account to be safe from the **** hitting the fan here, no?


  • #4
    Pablo Sanchez
    Closed Accounts Posts: 1,207 ✭✭✭Pablo Sanchez


    MASTER...of the bra wrote: »
    But he'd have to convert to sterling and open a sterling account to be safe from the **** hitting the fan here, no?
    Hi Master, no he is automatically covered even if he has a euro denominated account set up in Ireland.


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