# NIB Tracker Deposit a/c



## abbey (17 Aug 2006)

Hallo,

I was interested in opening this a/c.

Just trying to work out what the interest rate is. Its based on the ECB interest rate.
Anyone know what this rate is?

Gura míle maith agat


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## Greenhorn (17 Aug 2006)

At present, the ecb rate is 3%. National Irish are giving ecb + 1% on amounts between 20,000 and 50,000 i.e. 4%, and I think ecb + .8% on amounts under 20,000.


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## abbey (17 Aug 2006)

Great, thank you.

Yes you are right with those details. Also the money will be invested until 31/12/2008, although you can make withdrawals...

Thanks again..


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## Chamar (17 Aug 2006)

So is this currently the best deposit account out there? (beating Northern Rock)


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## IrlJidel (17 Aug 2006)

Note that you cannot make any more lodgements after 31 August


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## abbey (17 Aug 2006)

yep, get in fast if u are interested...


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## Humpback (17 Aug 2006)

abbey said:


> Gura míle maith agat


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## jwd (17 Aug 2006)

IrlJidel said:


> Note that you cannot make any more lodgements after 31 August


 
Hi IrlJidel,
I see nothing on the NIB website about a cut-off date for deposits to this account. Where did you get this information?


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## jwd (17 Aug 2006)

OK. I've seen the answr to my question here. Thanks.


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## IrlJidel (17 Aug 2006)

I rang them this morning to make an appointment and the official informed  of the  fact. 

I knew about the Aug 31 closing date to open acc (also mentioned in BestBuys) but was not aware you couldn't make further lodgements after that date either.

The NIB site doesn't mention 1) closing date for lodgements or 2) end of  account   31/12/2008 

I'm opening up account tomorrow - will update if there's any change to 1) or 2)


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## Massey (17 Aug 2006)

My reply earlier didn't get updated here.

I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?

In addition - have 20k in an AIB account earning feck all. Won't need this for a year - where best to put this?

Thanks all.


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## CCOVICH (17 Aug 2006)

Massey said:


> My reply earlier didn't get updated here.
> 
> I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?
> 
> ...


 
Yes it did-here.


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## IrlJidel (17 Aug 2006)

Massey said:


> My reply earlier didn't get updated here.
> 
> I have 5 - 6 k to put into a savings account and may need access to it over the next year. I am in the middle of opening up a rabo direct account for this - should I go to NIB instead?



Suggest you put 5-6k  into Northern Rock for _*3.75% *_Minimum balance: €1,000 (Rate effective 30 August). 

Rabo is _currently *3.5% *(_they haven't announced any increase due to ECB change yet but they are usually 0.1% below NR). Min balance €1.




Massey said:


> My reply earlier didn't get updated here.
> In addition - have 20k in an AIB account earning feck all. Won't need this for a year - where best to put this?
> 
> Thanks all.




Suggest you put 20k into NIB ECB tracker to get 4%.


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## RainyDay (17 Aug 2006)

The online access to this account is particularly interesting. Given that I can make once-off and recurring payments from this account, I'd love to use this account for most of my regular payments. I won't have a cheque facility of course, but I rarely use this anyway. 

The problem is that they say it won't accept lodgements after 31st Aug. I wonder what will happen if I make a transfer to the account by internet banking. Will it get bounced?


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## GeneralZod (17 Aug 2006)

Give it a go with a euro or two an let us know how you get on


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## SlurrySlump (11 Jan 2007)

Opened up a NIB Tracker Deposit *2* account last September in a South Dublin branch. I was amazed how little knowledge the staff had on this product despite the fact that my branch closes until 10.30 am on A Wednesday morning for staff training purposes. The cashier with whom I made my first enquiry told me I couldn't have one as a joint account because it was like an SSIA?. She also told me that the interest rate was 4 per cent.
When I was directed to the section that deals with queries I was again told that it could not be a joint account and that the interest rate was 4 per cent. I went ahead and opened the account.  Today I got my statement and I note that it is 4 percent on amounts over €20k but 3.7 per cent on amounts below €20k and 3.5 per cent on amounts below €5k. I have since learned that it *can* be a joint account. I also learned that I can make no further lodgments after the 28/02/07, something else I wasn't told about.


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## marksa (11 Jan 2007)

SlurrySlump said:


> Opened up a NIB Tracker Deposit *2* account last September in a South Dublin branch. I was amazed how little knowledge the staff had on this product despite the fact that my branch closes until 10.30 am on A Wednesday morning for staff training purposes. The cashier with whom I made my first enquiry told me I couldn't have one as a joint account because it was like an SSIA?. She also told me that the interest rate was 4 per cent.
> When I was directed to the section that deals with queries I was again told that it could not be a joint account and that the interest rate was 4 per cent. I went ahead and opened the account. Today I got my statement and I note that it is 4 percent on amounts over €20k but 3.7 per cent on amounts below €20k and 3.5 per cent on amounts below €5k. I have since learned that it *can* be a joint account. I also learned that I can make no further lodgments after the 28/02/07, something else I wasn't told about.


 
I went with the Regular Saver Account which pays ECB +50 on any balance from 0 to 50k, no expiry.


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## oldtimer (12 Jan 2007)

What do you mean 'no expiry.' Why were you told ''I can make no further lodgments after the 28/02/07?'' I would watch this. Last August NIB offered ECB+1.00% but then said no more lodgments after 31/08/06. They then introduced Tracker Deposit 2 with less interest. From what you say I wonder is there a Tracker Deposit 3 after 28/02/07 with less interest again i.e. less than ECB+0.50%?


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## MugsGame (12 Jan 2007)

The 'Regular Saver Account' marksa took out has different terms and conditions. Can someone who has seen the actual terms confirm if it can be used as a lump sum account, and not just for small-medium regular lodgements?


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## bos4 (12 Jan 2007)

MugsGame said:


> The 'Regular Saver Account' marksa took out has different terms and conditions. Can someone who has seen the actual terms confirm if it can be used as a lump sum account, and not just for small-medium regular lodgements?


 
I opened the Tracker Deposit A/C and made enquiries about the Regular Saver Account. You *can not *lodge a lump sum into the Regular Saver. It is only intended for regular lodgements paid in by standing order. The amount lodged can not exceed 50,000. So in effect you can lodge 4166.66 each month for a year. The interest would be calculated in the same manner as the other regular savings accounts.


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## marksa (13 Jan 2007)

bos4 said:


> I You *can not *lodge a lump sum into the Regular Saver. It is only intended for regular lodgements paid in by standing order. The amount lodged can not exceed 50,000.


 
Of course you can put in lump sums. I have had the account for about 4 months, and using internet banking put money in and out of the account as often as I like, and for whatever amount I like, whether that is 100 euro, or 1000 euro. No standing order required. There is no closing date on the account for lodgements ( which the aforementioned tracker 1 and 2). 

I think this product is a handy product for dumping surplus cash out of my current account - using internet banking, and this is particularly relevant for people who have existing current accounts with NIB.


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## bos4 (20 Jan 2007)

Marksa said*: Of course you can put in lump sums. I have had the account for about 4 months, and using internet banking put money in and out of the account as often as I like, and for whatever amount I like, whether that is 100 euro, or 1000 euro.*

When we talk about lump sums, we are generally referring to amounts like 10,000. If you tried to open the account with 20,000, you would receive a firm no.


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## goodtiming (20 Jan 2007)

bos4 said:


> When we talk about lump sums, we are generally referring to amounts like 10,000. If you tried to open the account with 20,000, you would receive a firm no.


I put a straight 50k into one of these a/cs and nobody gave me a firm no


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## MugsGame (20 Jan 2007)

Which a/c, the NIB ECB tracker or the NIB Regular Saver?


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## goodtiming (21 Jan 2007)

ECB Tracker


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## MugsGame (21 Jan 2007)

Thanks! Despite the title of the thread, I think bos4's comments about "no lump sums" referred to the NIB Regular Saver.


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## tall chapy (1 Aug 2007)

FYI - Quote from the official 'Regular Savings Account' NIB T&C's

5.*Payments to your account

*5.1 We will accept cash or cheque or other appropriate items for payment to your account up to the maximum deposit of €50,000 (Excluding Interest)


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