Your funds are managed by An Post. Since we are not a Credit Institution, your funds are not covered by the Deposit Guarantee Scheme in Ireland. However, we place customers’ funds in segregated accounts (known as ‘safeguarding’ or ‘client funds’ accounts) with Financial Institutions that are approved by the Board of An Post to accept An Post deposits and that are authorised to operate in Ireland as a Credit Institution, in line with EU regulations and supervised by the Central Bank of Ireland.
This means that your funds are separated from our other assets and can be used to repay you and other customers in the unlikely event of our insolvency.