# Rabobank launch Irish internet banking operation (& 3% a/c)



## ClubMan (3 May 2005)

Here's the press release


> Europe's largest Internet bank launches in Ireland
> 
> RaboDirect to surpass existing deposit rates
> 
> ...


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## MugsGame (3 May 2005)

*Re: Rabobank launch Irish internet banking operation*

Good to see some more competition. They don't mention how long the 3% rate will last, but right now it's the best in the market. I guess they expect the ECB to raise rates soon.

Slightly strange setup in that they require you to open a free "current account" with each savings account. Interesting to see if they'll allow European transfers from it.

21 pages of terms & conditions!

Oh, in case you hadn't guessed, their web-site is http://www.rabodirect.ie


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## MonsieurBond (4 May 2005)

*Re: Rabobank launch Irish internet banking operation*



			
				MugsGame said:
			
		

> Good to see some more competition. They don't mention how long the 3% rate will last, but right now it's the best in the market. I guess they expect the ECB to raise rates soon.
> 
> Slightly strange setup in that they require you to open a free "current account" with each savings account. Interesting to see if they'll allow European transfers from it.
> 
> ...



No minimum deposit - very interesting - I was about to open a [broken link removed] internet account - or rather, was going to open one when I had a spare grand at the end of the month, which is probably going to be on the _1st of Never_!


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## MonsieurBond (4 May 2005)

*Re: Rabobank launch Irish internet banking operation*



			
				MugsGame said:
			
		

> Good to see some more competition. They don't mention how long the 3% rate will last, but right now it's the best in the market. I guess they expect the ECB to raise rates soon.
> 
> Slightly strange setup in that they require you to open a free "current account" with each savings account. Interesting to see if they'll allow European transfers from it.
> 
> ...



Their [broken link removed] products look interesting also - 0.75% entry and exit fees but no other charges. I wonder how it compares to the Quinn Life ? Has anyone on AAM with more experience of investing in funds done a comparison yet?

(Apologies if this has been asked before - I did a quick look and found nothing.)


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## Capaill (4 May 2005)

Interesting to see that they are also offering what appears to be a more secure way of online banking using tokens to generate passwords for when you log on

C


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## Chris (4 May 2005)

I must agree, it looks like a very secure system; at first glance that is. Rates look pretty good too, so off to the Ts and Cs it is so.


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## MonsieurBond (4 May 2005)

Capaill said:
			
		

> Interesting to see that they are also offering what appears to be a more secure way of online banking using tokens to generate passwords for when you log on
> 
> C



Yes, this article appears to suggest that this is a first for Ireland.

In fact, it's not, as BOI's original 365 Online was launched with a password generating token device as well, but I think it proved unpopular with customers and was withdrawn and replaced with the current 3 factor authentication of usernumber, PIN & DOB etc..

I wonder if the digitoken will take off in Ireland?
Perhaps the time is right - it might take off now in this very security conscious and paranoid world we live in!
http://www.theregister.co.uk/2005/05/04/internet_only_bank_ireland/


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## Unregistered (5 May 2005)

I have a digitoken thing to access an email account in the US, its a pain in the a**e! I hate it. yeah it very very secure but I ended up setting up an Autoforward rule so my email gets sent to the primary email account.........so now I dont use it at all..............


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## stobear (5 May 2005)

Just noticed I appeared as unregistered on the above post, had problems accessing AAM yesterday and now have to type in the IP address into the URL, so it didn't automatically log me in.......


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## Marcecie (5 May 2005)

just wondering as a long time acc customer  how easy it woul be to change over


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## nahdoic (5 May 2005)

I want to sign up but is anyone else uneasy about putting an *original copy* of their utility bill and their tax free allowance cert from the revenue commissioners.

(Northern rock are the exact same as well)


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## colc1 (5 May 2005)

I'm just wondering how they calculate CAR, as I usually go by the APR,

Thanks,
Colc


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## DublinTexas (6 May 2005)

I always did know that the usual 3 days bank to bank transfer time is bogus and here is what Rabo has to say:

----
If you transfer money to RaboDirect from your primary bank account, RaboDirect will receive the money the next working day. That will be the first day for your interest calculation.
----

Next day!

Now if their current account would be a real current account and not just an in/out account I would be happy.


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## ClubMan (6 May 2005)

Thread closed - please see here.


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