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personal bank account guarantee?

  • 05-02-2013 2:31pm
    #1
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭


    My father just had a decent pension mature and has put it in a savings account in Danske Bank (formerly NIB). Its less than 100K so I understand its covered by the central bank guarantee of private bank accounts. However he has several accounts with them and he has more than 150K between them all.

    Now my question is , the bank guarantee of accounts less than 110K odd euros... is that in any single account or as a collection of the persons money in total with that bank?


Comments

  • #2
    seamus
    Registered Users, Registered Users 2 Posts: 68,317 ✭✭✭✭seamus


    It would appear to be a guarantee of the sum of all deposits within an institution:

    http://www.finance.gov.ie/viewdoc.asp?docid=6474
    the existing statutory €100,000 Deposit Guarantee Scheme (the "DGS") which cover 100% of retail deposits with all credit institutions authorised in Ireland (including credit unions) up to a maximum of €100,000 per qualifying depositor per institution.


  • #3
    DeVore
    Business & Finance Moderators, Entertainment Moderators Posts: 32,387 Mod ✭✭✭✭DeVore


    if its Joint Accounts for a couple its 200k so thats ok...


  • #4
    dudara
    Registered Users, Registered Users 2 Posts: 33,518 ✭✭✭✭dudara


    Moved to Banking & Insurance & Pensions

    dudara


  • #5
    unclebill98
    Registered Users, Registered Users 2 Posts: 3,816 ✭✭✭unclebill98


    Danske Bank are not part of the blanket scheme, so it is 100k per bank only.


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