Irish Bank Guarantee Extended

Calendar July 7, 2010 | Posted by Money Guide

The Irish goverment blanket guarantee of all deposits in Irish banks was originally due to expire on Sept 29th 2010.  After agreement from the European Commission – the guarantee has now been extended – but only to the end of December 2010.

Deposits of up to €100,000 are unaffected, and are protected under the Irish Deposit Protection Scheme, which has no end date.

See more about Deposit Guarantees here.

Category Categories: Credit Unions, Deposit Accounts, Deposit Guarantees

4 Comments

  1. Donie says:
    August 9, 2010 at 18:30

    If it ends at the end of December 2010, how is it possible that it has no end date?

    • Moneymate says:
      August 9, 2010 at 19:03

      Donie – there are 2 different guarantees. The one with no end date guarantees up to 100k Euro. The other scheme – which guarantees 100% of all deposits is th ene that is due to expire in December.

  2. Roger says:
    September 3, 2010 at 14:09

    If I have a term deposit account of more than €100k in an ELG-covered bank and the term ends say September and I open a new term deposit account with the bank, am I covered by the ELG? I have had term deposit accounts with Anglo since prior to the ELG which have matured and I keep re-opening an new term account as each matures.