# Bank of Ireland - Regular Saving Account



## Lionheart (20 Sep 2007)

I went into my local BoI today to open a Special Bonus Regular Saving Account. I wished to put €1000 euro a month into this account.  I was amazed to be informed that as I did not have my SSIA with BoI I would be limited to €500 a month.

I told them politely that if they did not take my money I would take it to Anglo Irish who pay a better rate in any event.  Guess what, they did not want my money.

I have been a customer of BoI for very very many years.  I still can't believe that they did not want my money!!  

Why could that be?? I'm still in a state of shock!


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## oldtimer (20 Sep 2007)

They introduced these limits shortly after announcing their regular saver scheme - €1000per month if you had the SSIA with them - €500 if you didn't. Their terms and conditions. Of course if you have a spouse you could put €500 in each account. Anglo terms and conditions are more strict. Did you look at EBS - 7% and best terms and conditions.


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## Lionheart (20 Sep 2007)

I hadn't looked at EBS. I'll check them out.  Yes, my wife also has a current account with Bank of Ireland also but the person in BOI didn't even mention that option.


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## Perplexed (20 Sep 2007)

Lionheart said:


> I hadn't looked at EBS. I'll check them out.  Yes, my wife also has a current account with Bank of Ireland also but the person in BOI didn't even mention that option.



BOI should have mentioned that option of opening a joint a/c & then you could save the €1k pm.

The staff member wasn't being awkward refusing to open the sole a/c for 1k pm. The system will not allow you to do it !
Big Brother watches us all !!


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## DeBarr (21 Sep 2007)

Perplexed said:


> BOI should have mentioned that option of opening a joint a/c & then you could save the €1k pm.


 
Myself and my wife went in to our local branch to open a joint regular saver account with a view to lodging €1000 a month in the future (currently we are putting 500 in) and we were told that the limit was €500 on the account.... The staff member checked with Head Office ....


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## oldtimer (21 Sep 2007)

Open individual accounts for €500 each.


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## Banking2006 (21 Sep 2007)

Why bother- if they don't want your money- is that telling you how much they care! Why make them richer- MOVE ELSEWHERE...


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## jpd (21 Sep 2007)

They have obviously decided that this offer was too good to be true! We opened a joint account with BOI last December and are putting €2,000 pm. Unfortunately we were living abroad when SSIA were launched so missed out on that but were still allowed to open account!


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## bacchus (21 Sep 2007)

oldtimer said:


> Anglo terms and conditions are more strict. Did you look at EBS - 7% and best terms and conditions.


 
Depends....

The fact that logement to EBS regular saving accounts can only be made by Direct Debit may be restrictive, and also only one payment allowed per month.
Anglo allows payment to be 1- missed without penalties & 2-made as you want when you want up to max (€1000 or 2000 pm).

But EBS allows for withdrawal while Anglo Irish does not ...

So, it is a matter of personal choice which is best for same return.

Can one lodge €2000 pm onto EBS a/c if it is a joint a/c?


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## Lionheart (21 Sep 2007)

Following on the refusal of the Bank of Ireland to take my money, I have today opened an account with EBS saving €1000 per month. This will be coming out of my BoI currrent account.  Thanks to oldtimer for pointing me in that direction.

I just don't get the rationale of BoI. Because I didn't put €254 into an SSIA Account with them, they won't take an extra €500 from me now. Whats that they say about biting off your nose....

I have got a far better deal with EBS so perhaps I should be grateful to BoI for turning me away.


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## Mr Magoo (21 Sep 2007)

Lionheart said:


> This will be coming out of my BoI currrent account.


... and if you find you are paying bank charges then maybe move your c/a also! I've been with boi over 30 years and have recently moved my mortgage and c/a to NIB.


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## Jethro Tull (21 Sep 2007)

Mr Magoo said:


> ... and if you find you are paying bank charges then maybe move your c/a also! I've been with boi over 30 years and have recently moved my mortgage and c/a to NIB.


 
feck loyalty when banks are concerned. Look after no. 1. If you can save money by moving then do it.


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## 424485 (22 Sep 2007)

I did not have my ssia with BofI but I have the saver accont if 1000 a month.


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## Godfather (24 Sep 2007)

oldtimer said:


> They introduced these limits shortly after announcing their regular saver scheme - €1000per month if you had the SSIA with them - €500 if you didn't.


 
Hi oldtimer, does this mean that I was lucky enough to subscribe at the very beginning for 1000 Euro/month without having my SSIA with them? Wow... Sometimes luck strikes me as well...


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## oldtimer (24 Sep 2007)

Yes - it appears you got the €1000 in before they amended the €500 limit on those who did not have their SSIA with them. I think the scheme ran for about 4 weeks before they amended this limit.


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## Godfather (24 Sep 2007)

oldtimer said:


> Yes - it appears you got the €1000 in before they amended the €500 limit on those who did not have their SSIA with them. I think the scheme ran for about 4 weeks before they amended this limit.


 
Thank you oldtimer, I thank this forum for being so lucky on that...


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## Perplexed (25 Sep 2007)

Yes, initially people were allowed put in the €1k. Then it was changed (can't remember the date now ) so that only people who had their SSIA's were allowed do this & new customers were limited to €500pm.
You are still entitled as a couple to open 2 SBSA's @ €500pm or a joint a/c for €1000pm but not to have 2 sole a/c's as well as a joint a/c .
One of the major selling points is that you don't have to have a c/a with BOI, just an a/c anywhere that is capable of accepting  D/D's.
Yes, Godfather you were lucky to get on time !


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## dublinhead (7 Apr 2008)

When does the interest rate (6.75%) run out on this account?


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## Calico (7 Apr 2008)

I went in to open one of these accounts either on the day or the day after they changed the rule to limit non-ssia holders. When they told me I was ineligible, I kicked up an awful fuss & told them I would leave the bank permanently because I felt misled (not to mention I didn't get the rationale of limiting non-ssia holders) 

Anyway, they made a few calls and opened up the a/c for me so it can be done!


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## oldtimer (8 Apr 2008)

To answer Dublinhead query ''when does the interest rate (6.75%) run out'' - it runs out after 18 months from time of opening the account. At the end of the 18 months they will write to you notifying you the interest rate will drop to 3.75%. Your best option then is to close the account and open an easysaver account - 7%, max €500 per month. The 7% applies up to €5,000. All details on their website [broken link removed]


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## tonster01 (8 Apr 2008)

You could have also went for First actives regular saver account...it allows 1000 p/m also


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## dublinhead (8 Apr 2008)

oldtimer said:


> To answer Dublinhead query ''when does the interest rate (6.75%) run out'' - it runs out after 18 months from time of opening the account. At the end of the 18 months they will write to you notifying you the interest rate will drop to 3.75%. Your best option then is to close the account and open an easysaver account - 7%, max €500 per month. The 7% applies up to €5,000. All details on their website [broken link removed]


 

Thanks for that oldtimer. I am glad to know they dont do a  Halifax and change the rate without writing to you.


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