Post Office Instant Saver Account

[Bushwhacker]

Hi all,

I wonder if anyone can help :

I am resident in Scotland and have an Instant Saver Post Office account. All Post Office Instant Saver accounts are provided by the Bank of Ireland.

The Irish government said on Tuesday that it would safeguard all deposits, bonds and debts in the Republic of Ireland's six biggest banks and building societies for two years.

The institutions covered are Allied Irish, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the Educational Building Society.

With the scheme also covering any of the institutions' branches in the UK - be they in Northern Ireland or mainland Britain - does this mean that my money in that Post Office Saver account is now 100% guaranteed over the 2 year period ??

BW

[Ethel]

If you have less than �35k in the account (and the Bank of Ireland overall) it is 100% guaranteed in any case.

But now all amounts are guaranteed safe:

"The guarantee extends to hundreds of thousands of savers in the UK, who hold deposits with the banks� subsidiaries, including savers with cash in accounts run by the Post Office"

http://business.timesonline.co.uk/tol/business /industry_sectors/banking_and_finance/article4 856987.ece

.

[Bushwhacker]

Thanks for that Ethel.

BW