"Savings accounts offered by the UK Post Office are covered by the guarantee because they are administered by the Bank of Ireland".
This is the thing, and I find it quite laughable.
The UK Post Office tout 2 main savings account providers.
Themselves, with the bank of Ireland.
And with National Savings offering a lesser rate of interest,
but with the piece of mind that all of your money with National Savings is Guaranteed.
Now, with the new Irish banking initiative, less and less people troddling off to the Post Office are going to put their money into National Savings, it is going to go into the bank of Ireland.
Cash the Giro, cash the pension, cash the child benefit down the Post Office, put some of it away for a rainy day, and off it goes.
See you 'money', thanks for your stay in Britain, hope you enjoyed your stay, bye now.
It won't just be via the Post Office either.
The Irish are looking after the interests of their people and you cannot fault them for that.