During the global financial crisis, savers have understandably shown concern over the safety of their savings. I would like to draw your attention to the fact that the Bank of Ireland also provides savings products for the Post Office. More than two million people in the UK have invested in banks in the Republic - mostly through the Post Office.
The latest financial upheavals facing Europe and the Euro have to include the Irish Republic. Fortunately savers have greater protection of their deposits than was the case a couple of years ago.
As the Bank of Ireland provides savings products for the Post Office - these products are now covered by the UK's safety net. So if you ask is my money safe in the Post Office the answer in a nutshell is yes up to a certain amount.
Up until 1 November, 2010, this was done under a licence in the Republic, but since then it has been run through a UK subsidiary.
As a result, all Post Office savings are now covered by the UK's Financial Services Compensation Scheme (FSCS).
Those who have deposited money in the Irish Republic are covered by the Irish Deposit Guarantee Scheme. This covers all savings up to 100,000 euros (£86,000) if a bank folds.
Banking expert Ralph Silva, of Silva Research Network, said: "It is inconceivable that banks would fail in relation to the retail or High Street investor." Enable IFA’s in BishopsStortford are always available for advice.
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