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Little panic as Irish investors rush to check on their NorthernRock accounts
Shane Coleman



IRISH customers of the Northern Rock bank . . . who hold average deposits of 90,000 each . . . yesterday called in a steady trickle to the Dublin head office to make withdrawals from their accounts.

Although there was no evidence of the panic and long queues seen outside UK branches over the weekend, business was brisk all day.

Customers were told that the office was not officially open, but that staff were in to work on the backlog and to assist those who had dropped in to inquire about withdrawing some of their savings. No member of staff was available to speak to the Sunday Tribune, with queries referred to the bank's helpline.

Most of those calling to Northern Rock said they believed the bank was "sound", but that they wanted to withdraw at least some of their money "just in case".

Northern Rock has 25,000 Irish depositors, who hold about 2.4bn in savings.

Two customers said they were calling in because of unsuccessful efforts to withdraw their money online.

"I took out the money yesterday, but it hasn't been transferred across to my Bank of Ireland account. I'm hoping it's just a problem with the system, " one man said, adding:

"If it was not my own money involved, I'd be telling people to 'relax', but it's different when it's your own."

"I'm terrified. I went online [on Thursday night] and tried to withdraw my money and it said it was going to my nominated account but it didn't happen, " a woman said. She said her money was from a property she had sold because of concerns about the property market. "Are we back to days of keeping it under your bed?"

Another woman, emerging from the offices on Hartcourt Street, praised the staff 's courtesy and professionalism and said she was assured that her money would be transferred.

This was echoed by another man who was told his transfer would be cleared by Wednesday.

Another couple who spoke to the Tribune outside the offices said that while they were "concerned", they had got some reassurance "through the media" that the bank was "basically stable" and wouldn't be withdrawing their money yet.




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