UB Esavings plus down to 4%?

UB and FA eSavings Plus and eSavings accounts reduced today as far as I can tell.

First Active have launched a new Demand Bonus account paying up to 4.00% - but only for funds not currently in a FA account.

Anglo Irish Bank Easy Access rates also reduced.

See Lump Sum Best Buys for more details.
 
I've just seen this on the UB website and I'm naturally ****ed off. How low can things go?
 
Applied for esavings with ulster bank,filled out forms and posted back with cheque 5 weeks ago,rang two weeks ago as cheque not cashed to find out if received,told thousands of applications received and that they were working through backlog and would be processed asap.still waiting ?
 
Cant say Im suprised! They clearly had no intention of keeping that rate as its too unrealistic, given ECB is 1.50% and they were paying 5% (excluding the bonus), when something looks to be too good to be true, its usually because it is!

Its not really a good account either, it can only be used on line, you get no interest paid in a month you make a withdrawal, and it is a variable rate, so all they were doing is putting out a fat rate to reel everybody in and then drop it!

Anyone with a lump sum in these accounts would be better locking it away if they dont need it, al least you will get a decent return with the various offers out there.
 
The website says UB eSavings Plus is now 4%....is that including the 0.5% six month bonus? I believe the ordinary eSavings is 3%. Therefore there's only another 0.5% between the two eSavings products?

I've got to be wrong here haven't I?
 
LARD1 said:
Applied for esavings with ulster bank,filled out forms and posted back with cheque 5 weeks ago,rang two weeks ago as cheque not cashed to find out if received,told thousands of applications received and that they were working through backlog and would be processed asap.still waiting ?
Click to expand...

Strange, I had an eSavings application processed from scratch to completion in a week or so last month.
 
I really wish the banks would get their acts together on their websites in terms of accuracy, consistency and up to date info - according to this, as at 21/03/2009, 21:56, the rate for eSavings Plus is still shown as 5.5% AER

[broken link removed]

Earn a great rate of 5.50% AER* variable (includes 6 month introductory bonus of 0.50%).
Click to expand...

Flat rate - 5.50% AER* variable. Gross rate 5.39%
Click to expand...

Is this intentionally misleading or oversight/incompetence?
 
Bobby1 said:
Anyone with a lump sum in these accounts would be better locking it away if they dont need it, al least you will get a decent return with the various offers out there.
Click to expand...

Can you elaborate on this? Are there better offers out there? Can you specifiy one? Thanks
 
LARD1 said:
Applied for esavings with ulster bank,filled out forms and posted back with cheque 5 weeks ago,rang two weeks ago as cheque not cashed to find out if received,told thousands of applications received and that they were working through backlog and would be processed asap.still waiting ?
Click to expand...
It took them a full 7 WEEKS to process my account application.

I applied online for the ESavings Plus account on Jan 26th and didnt get my account number until March 16th. I was absolutely dumbfounded by their inefficiency. When it got to March and I still didnt have an account number or login, I started phoning them every two days and hassling them. Some of the customer service people were ok at their jobs, but one fellow was virtually retarded. Im not surprised they had to be rescued by the british government.
 
MugsGame said:
Rate is currently 4.5O% for first six months (4.19% compounded).
Click to expand...

That's incorrect. In the image above it says its 4% including the six month bonus. But on the overview page it says the introductory bonus is 0.5%. Therefore the normal rate would have to be 3.5%.

However on the rates page it says the flat rate is 3.75%. Somethings wrong here somewhere.

I'm going to give them a ring in the morning. If the plus rate is only .75% (or possibly .5%) more then its not worth the hassle.
 
Sorry, I posted that from my phone and got it wrong (have corrected now).

I meant to say 4.25% for first 6 months, as I've previously stated in the AAM Best Buys. UB / FA quote the current AER for first 12 months as 4% which comes from 4.25% for first 6 months and 3.75% for next 6. If you only invest for 6 months, this is equivalent to an AER of 4.25%.
 
Ahh I see :) Thank you for that! :)

I'm coming to the end of the six month introductory period (only one month left). 0.75% for the plus doesn't seem like great improvement over the basic eSavings' rate. They'll probably drop that again soon though
 
I have one of these accounts and like vanzan I have a month or so left on the six month indroductory.

My thinking was to open a fresh account and move the funds on the 1st of the month to the newly opened account and benefit from the higher rate.

Now I haven't asked them and not sure if it possible but we see if possible.

Will shop around while I wait for the little over a month to finish.
 
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