EBS regular saver a/c....7%

[camlin90]

Well you're not tied in for 2 years - you can withdraw the money at any time as far as I remember.

Yep, that's true - early withdrawals will close the account - but presumably that would be the intention anyway!

Anglo has a minimum rate guarantee of 4.5% on the RSA but that would probably be too low for most people to justify keeping the account open.

Personally I would be surprised if they dropped the rate dramatically - they seem to have been making efforts over the past few months to attract more customer deposits - raising rates on all their accounts despite the ECB keeping base rates on hold.

 

[Godfather]

But if he closed most of them, he will have to present id again next time round!! It will be interesting to see if Anglo Irish drop the rate they are paying on their regular saver a/c. I think their review date is in April. They did increase some of their savings rates recently so hopefully they will continue the regular saver at the present rate.

Anglo asks you to keep the reg. saver account for 2 years in order to avoid penalties...Let's hope they won't drop the rate!

 

[messyleo]

Yes but the only penalty for withdrawing is that they close the account and tranfer the balance to an easy access account. You don't forfeit any interest earned up to that point however, so intrinsically there is no penalty.

 

[Godfather]

Yes but the only penalty for withdrawing is that they close the account and tranfer the balance to an easy access account. You don't forfeit any interest earned up to that point however, so intrinsically there is no penalty.

Really Gravitygirl? That's of great relief! Thank you

 

[SS expert]

What happens if you don't have enough money in your account to cover a direct debit?

 

[eileen alana]

John J - I am nearly positive I saw this written somewhere recently, however I could be wrong. I'll call them on Tuesday to find out and report back then. I'd be delighted if they don't drop the rate as I only opened this a/c a few months back and I am tied in for two years.

I was wrong, sorry guys, the rate is 7% and they have no plans to review it in the immediate future.

 

[oldtimer]

Just a reminder the interest rate of 7% was due to drop to 4% to-day 1st April as per the original terms and conditions. However ASAIK the 7% rate is extended to 30th April.

 

[jpd]

Extension to 30th April, I was told this too in the Stillorgan branch yesterday. This will need to be checked when I get the interest payment later this year

 

[askU]

This will need to be checked when I get the interest payment later this year

When is interest paid it is not stated in T&C:[broken link removed]

 

[blorg]

7% current variable rate and rate promise "until 30th April" are both on their website:

[broken link removed]

 

[Duke of Marmalade]

Just got a letter from Bert Shaw (EBS Office Manager) to advise that the rate on my savings account falls back to 4% on 1st May.

Thanks, Bert, I'll drop down over the next couple of days and withdraw my funds.

 

[raven]

At least they sent you a letter I guess.

 

[cork]

Just got a letter from Bert Shaw (EBS Office Manager) to advise that the rate on my savings account falls back to 4% on 1st May.

Thanks, Bert, I'll drop down over the next couple of days and withdraw my funds.

Rang them today & they confirmed rate was going back to 4%.

Was thinking of INBS or EBS - INBS now - I surpose.

 

[Duke of Marmalade]

At least they sent you a letter I guess.

And I have thanked Bert publicly here on AAM. And Bert's magnaminity didn't stop there, he has offered to book me a "Savings and Investments review".

 

[oldtimer]

Yes, I got same letter with an offer of a 'personal review.' However they tell me to go to my local branch for the review - but the local branch they mention is 50 miles away despite a branch in my home town. Unless they offer me another product at 7% I have no interest in a personal review. Its a no brainer for me - close the EBS and go across the road to Irish Nationwide @ 7.35%.

 

[Darando]

So for me its bye bye EBS also. Will have to decide where to go but not leaving it there at 4%. I thought banks etc. were crying out for money!

Only thing is there is no EFT on their online banking so its a trip to the branch for a bank draft I guess and then a trip to another bank to lodge it!! (unless they do transfers over the phone to external account such as AIB ??? anyone know if they do?)

 

[jpd]

I suspect that they do not use internet banking as that would make it too easy to switch out of EBS to another institution - having to visit the office to withdraw yours funds ia a pain in the neck

 

[ClubMan]

Only thing is there is no EFT on their online banking so its a trip to the branch for a bank draft I guess and then a trip to another bank to lodge it!!

Surely worst case you can do this by post either or both ways?

 

[DrMoriarty]

I rang my branch to ask whether I should write to them or to head office to close the account and they said they couldn't take written instructions, I'd have to call in person with ID...

I imagine you could insist on doing it by post if you really had an issue with that, though.

 

[oldtimer]

The reason they want you to call to a branch office is to confront you and get one of their ''advisors'' persuade you to leave your money in one of their saving or investment schemes. Be warned, they haven't much to offer at the moment but the ''financial advisor'' will dress up their schemes. To quote from their letter ''the review will focus on what is important to you.'' Ask him/her to match the regular savers of Irish Nationwide, Halifax, AIB, First Active, Bank of Ireland, all of which are 7% or more. They are not at the races with 4%. Under the terms and conditions you are entitled to withdraw your money and he/she cannot argue with that.