Reply to: Heads up - Those with savings in the Anglo Irish Bank or the Post Office

[NoddY]

AIB = Allied Irish Banks

AIB is nothing to do with Anglo Irish Bank. Anglo is regarded in Ireland as a 'developers bank' with a small High Street presence. AIB is a major retail bank with branches in every town - ditto the Bank of Ireland (BOI). BOI offers retail products at the British Post Office. Despite its name BOI is not a central bank either the "Central Bank" is!

Anyway, my advice is to convert money to whiskey, cigs and tinned beans before Ireland, the UK, the US and Spain go belly up.

[AlfredJPruffock]

Spain

HTH

Shoorla shumante mishtaqo amigo ?

[BrilloPad]

So.

Who will collapse first - Ireland or Pruffock ?

Your bets please ...

Spain

HTH

[AlfredJPruffock]

So.

Who will collapse first - Ireland or Pruffock ?

Your bets please ...

[expat]

Thanks for that clarification I hadn't followed the complexities of the Post Office's banking operations and didn't know (also CBA to Google) that Post Office retail banking was an AIB product.

I don't really know anything about the PO/AIB accounts, but I can tell you that the DNS savings account has had some damn fine programming go into it

[TykeMerc]

At one time, long long ago, the Post Office offered savings accounts.
Then later (still a long time ago) the Department for National Savings (a UK Govt Department) ran the accounts, which were still handled via the Post Office (or by post, or at the DNS HQ).
Then later DNS became NSandI (National Savings and Investments), and it still is, and still offers a savings account.

Meanwhile, the Post Office started offering current accounts, which are operated by AIB.

No connection, except historically the Post Office as a retail outlet.

Thanks for that clarification I hadn't followed the complexities of the Post Office's banking operations and didn't know (also CBA to Google) that Post Office retail banking was an AIB product.

[expat]

What happended to National Savings accounts? At one time they were the only ones available from the Post Office. Does the above imply that National Savings got shifted to Anglo Irish, or am I jumping to the wrong conclusion?

At one time, long long ago, the Post Office offered savings accounts.
Then later (still a long time ago) the Department for National Savings (a UK Govt Department) ran the accounts, which were still handled via the Post Office (or by post, or at the DNS HQ).
Then later DNS became NSandI (National Savings and Investments), and it still is, and still offers a savings account.

Meanwhile, the Post Office started offering current accounts, which are operated by AIB.

No connection, except historically the Post Office as a retail outlet.

[DimPrawn]

I was wondering this too, is this referring to savings in the UK or Irish Post Office?

It is referring to UK savers saving with the UK Post Office.

Note that the Post Office is not National Savings.

Do I have to spell out everything?

No wonder I'm rich and you are poor.

[Mich the Tester]

I was wondering this too, is this referring to savings in the UK or Irish Post Office?

Probably UK, but outsourced to Anglo Irish in Ireland. Prevents Gordon having to take responsibility for anything.

[TykeMerc]

What happended to National Savings accounts? At one time they were the only ones available from the Post Office. Does the above imply that National Savings got shifted to Anglo Irish, or am I jumping to the wrong conclusion?

I was wondering this too, is this referring to savings in the UK or Irish Post Office?

[Sysman]

http://www.guardian.co.uk/money/2009...nsation-scheme

Elisabeth and Mike Field, from Bedford, also feel let down by the change. "We accept that the current Irish scheme is a good one and does appear to cover UK investors. However, we chose to invest with the Post Office because it was covered by the UK FSCS," they said.

"We are surprised that the Post Office can alter the terms under which we invested after the event. We do not want the extra complication of having to claim under another country's scheme, should it become necessary, or to risk the problems that can arise when a smaller economy ,such as Iceland or Ireland, suffers a dire financial crisis."

What happended to National Savings accounts? At one time they were the only ones available from the Post Office. Does the above imply that National Savings got shifted to Anglo Irish, or am I jumping to the wrong conclusion?

[ace00]

Those who haven't been paying attention, Ireland is teetering on the edge of insolvency. AIB is nationalised already.

[DimPrawn]

What, and miss an opportuinity to post some "bad news"???

You jest, surely?

How is this bad news?

How's your head doing in that sand?

[PM-Junkie]

Why would they need a "heads up" if they have had a letter?

Ireland isn't Iceland.

What, and miss an opportuinity to post some "bad news"???

You jest, surely?

[DimPrawn]

Why would they need a "heads up" if they have had a letter?

Ireland isn't Iceland.

They might not have read it. The wife might have binned it. They might be working away from home.

If you think the finances of Ireland are far from that of Iceland, you is in for a surprise.