# AIB Online 7 Day Notice A/C-



## Doingabit (22 Jun 2009)

Hi All,

I have €16K spare to deposit which I have left , for the time being, in my AIB 7 day notice account. 

My online account tells me that I receive 3.23% on the first €10k and 1.5% above this. 
I presumed that this means I would be earning 3.23% on the first €10K and 1.5% on the remaining €6K. Not so. 

I found out today that I've earned 1.5% on the full €16k for over a year!! 
Just wanted to highlight this in case anyone is in a similar situation.
Definately think this is sneaky


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## Doingabit (22 Jun 2009)

Donkeyman - I just read your post there. 
You might check if this was the case for your first €10K.


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## shola (22 Jun 2009)

I have this acccount with just over 10k...and i recieved 3.23% on the first 10k and 1.5% on the balance...are you sure you are not mistaken


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## Doingabit (22 Jun 2009)

Shola,

Yes, if the AIB rep is to be believed. 
I received a phone call from an AIB rep explaining this to me. 
She also pointed out that if I have €10K in my account my interest will push it over the required €10k and the rate will revert back to 1.5% from 3.2%.
How do you know you received the 3.2% on the total amount? Did you recalculate?


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## Lightning (22 Jun 2009)

The AIB website seems clear on this to me ...



> You can avail of our great interest rates of 3.25% AER variable on all balances up to EUR10,000, and 1.50% AER variable on savings amounts from EUR10,001 - EUR100,000



You could just always choose to put the money in Anglo. Anglo offer 3.60% up to 100,000 EUR with no notice required.


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## Doingabit (22 Jun 2009)

Just phoned up AIB online and they explained the rate is *3.23%* AER variable on all balances up to EUR10,000, and 1.50% AER variable on savings amounts from EUR10,001 - EUR100,000. 
He explained that "someone in sales" probably got mixed up - the same person tried to sell me a 30 notice account . 
Anyway I think I'll open up an Anglo account as you suggested by Fungus as I reckon I need this money on demand!
Btw tried to open both an Ulsterbank and Halifax account last Friday but there was no one in customer care in either branch.


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## scatriona (14 Sep 2009)

Just reading above post and my lump some has slightly gone over the 10k due to interest. Would I be better withdrawing this excess amount to bring it back to 10k before next interest is paid in October? (and thereby benefit from 3.23 as opposed to 1.5%?)
Thanks

Scat


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## Lightning (14 Sep 2009)

Are you better withdrawing the whole balance? yes. 

That AIB account has some very sneaky T&C's and does not offer the best return for your money.

The best buys for an instant access account are here. 



> Best for amounts from €1 to €20,000
> *[broken link removed]*
> _*3.75%*_ up to €20,000
> _*2.50%*_ from €20,000 with no maximum
> ...


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## UFC (15 Sep 2009)

So if I understand correctly, if the balance on my account is over 10k, the *entire* balance only receives interest of 1.5%? If that's true, that some very sneaky wording they're using there.


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## WaterSprite (15 Sep 2009)

UFC said:


> So if I understand correctly, if the balance on my account is over 10k, the *entire* balance only receives interest of 1.5%? If that's true, that some very sneaky wording they're using there.



That is not the case.  The interest of 3.2% is on all balances up to 10k and 1.5% is on the remainder.  Fungus, perhaps you would explain the sneaky terms, as you see them?


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## Lightning (15 Sep 2009)

Sure, see below quote, taken from the best buy lump sum deposit thread ... 



> *[broken link removed]* (Discuss)
> _*3.25%*_ on €1 to €10,000
> _*1.50%*_ on excess over €10,000, to €100,000 maximum
> Note 1: Online only.
> ...



My main point, is that savers can get a return on their money elsewhere with less hassle and having to comply with less stringent T&C's.


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## UFC (26 Feb 2010)

They have just reduced the interest rates on this account:

25/02/10 New Interest Rate
25/02/10 Credit @ 2.980%
25/02/10 Up to e 10,000 &
25/02/10 1.500% above


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## Lightning (26 Feb 2010)

They have reduced it from 3.00% to 2.98% ???? 

Have you got a link for this change? The AIB website says the rate is still 3.00%.


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## MANTO (26 Feb 2010)

I think there may be a little confusion - Current rates are here fungus.

[broken link removed]


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## Lightning (26 Feb 2010)

Yeah, as I said, their website says 3.00% so the rate appears not to have changed. It has been 3.00% AER for quite some time now.


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## MANTO (26 Feb 2010)

UFC is looking at [FONT=Arial, Helvetica]*Gross%*[/FONT]


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## UFC (26 Feb 2010)

No, I am looking at their new interest rates. They updated them in every account.

I have one of these accounts.

What you see is an exact copy and paste of their new interest rate announcement as per my online banking account.


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