It was announced this evening that all deposits held with Irish Nationwide will be transferred to Irish Life and Permanent.  (PTSB)
This transfer is as a result of an auction which was one  of the stages in the winding down of Irish Nationwide .

There were €3.6 billion of deposits at Irish Nationwide – and it is reported that   Permanent TSB paid just €2.3 million for these deposits. (That is not a typing error !) That is like paying €2.30  for €3600  – a real bargain !

The €3.6 billion of deposits includes 2.7 billion in Irish retail deposits, €500 million in Irish corporate deposits and €400 million in Isle of Man deposits.

As part of the deal – 237 staff will transfer from Irish Nationwide to Irish Life & Permanent

As part of the same announcement – Anglo Irish deposits will be moved to AIB

The Dept of Finance states that  ….
“No action is required to be taken by depositors following the making of the transfer orders by the High Court. The position of depositors in INBS remains fully secure following this transfer. Customers of INBS should be reassured that their deposits remain protected under existing Government guarantee arrangements.”

The transfer will have no impact on existing terms and conditions. Depositors continue to have access to their funds in the normal manner as they had under their arrangements with Anglo or INBS.

Any INBS queries can be directed to -
Irish Nationwide Building Society’s relationship team:

Telephone 1850 522 522  Monday to Friday, 8am – 8pm and Saturday 9am-1pm .