Northern Rock & permanent tsb

Abraham

My baby sister retired from a semi-State job just 4 years ago and put her gratuity (all of it ! ) into Northern Rock. So far so good.
Now in recent days, she has received a notice from NRock advising her that : "Northern Rock has agreed to transfer its savings business in Ireland to permanent tsb". She tells me that she had no idea that such a move was in the offing and wonders what it means.
What should she be concerned about in a maneouvre like that ?

Any observations, anyone ? Tks.

coylemj

What is to be concerned about? If she doesn't trust pTSB then just withdraw the money and put it somewhere else.

martyoo

Same thing happened with the deposits from Irish Nationwide. I just had to merge my Irish Nationwide account with my current PTSB account.
Prity straightforward.

Nothing to worry about

Abraham

martyoo wrote: »

Same thing happened with the deposits from Irish Nationwide. I just had to merge my Irish Nationwide account with my current PTSB account.
Prity straightforward.

Nothing to worry about

OhKaaaay Tks

JTMan

With Northern Rock your money was guaranteed with the UK FSA.

With Permanent TSB your money is guaranteed by the near-bankrupt Irish state.

OfflerCrocGod

"The old saying holds. Owe your banker £1000 and you are at his mercy; owe him £1 million and the position is reversed." - John Maynard Keynes.

The Irish government owes a surprisingly large amount of € to the rest of the eurozone...

Now if only the Irish government where to understand the quote.

Abraham

Fungus wrote: »

With Northern Rock your money was guaranteed with the UK FSA.

With Permanent TSB your money is guaranteed by the near-bankrupt Irish state.

Well then that's def OhhhKaaaaaaaye !