# Opening First Active regular saving a/c



## henry (18 Feb 2008)

To avoid having to read through all 26 pages of the "First Active e-savings account", can anyone offer some advice on this.

I recently opened a FA e-savings account by mail. Sent off application form and identification details in the post. No problem. Lodged a lump sum there @ 5.22%.

I planned to open a regular savings account with FA and transfer accross € 1,000 per month from e-savings to this and earn 7.15%. 
I phoned FA about setting up the regular savings account to be told that I would need to call into a branch to arrange this and that I would also need to supply all of the ID requirements again.

Is this really necessary ? Has this happened to anyone else ? Calling into a branch does not really suit.


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## ClubMan (18 Feb 2008)

henry said:


> Lodged a lump sum there @ 5.22%.


Hopefully less than €15K such that payment of the first lot of interest won't put you above the €15K (or €15,001) limit and thus onto the lower rate for the full amount?


> I planned to open a regular savings account with FA and transfer accross € 1,000 per month from e-savings to this and earn 7.15%.
> I phoned FA about setting up the regular savings account to be told that I would need to call into a branch to arrange this and that I would also need to supply all of the ID requirements again.
> 
> Is this really necessary ? Has this happened to anyone else ? Calling into a branch does not really suit.


Sounds odd. Not sure why you can't just fill in a _DD _mandate form for payment of the money from the _eSavings _account into the _Regular Saver _account? Call their telephone banking and ask them?


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## henry (18 Feb 2008)

I don't have a regular savings account set up yet. 
Thats what I am trying to do, but they insist I call into a branch.


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## ClubMan (18 Feb 2008)

They should not need all of the money laundering ID again. However you do have to go to a branch to open the account as far as I know. That was my experience though.


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## tinkerbell (18 Feb 2008)

I have already posted my story in the other FA thread but its that I opened the e savings one no problem but despite having my ordinary saving account for over ten years with them, they will not sanction me transferring online from that account to the e saver.  I called into my local branch complete with passport and all requested documention but a month later still nothing except another letter asking me to do all that over again.  Upon phoning they confirmed the applications had been received but could not tell me what the problem is and to wait another week or so in case its ok then!!


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## ClubMan (18 Feb 2008)

tinkerbell said:


> but despite having my ordinary saving account for over ten years with them, they will not sanction me transferring online from that account to the e saver.


I have transferred to/from _PTSB _and _Halifax _from/to _eSavings _no problem.


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## tinkerbell (19 Feb 2008)

Lucky you!   Pity they don't facilitate a well established old customer like me just as easily?  Phoned again today and told to call into my local branch again with passport and try again even though thats exactly what I did three weeks ago.   Whats the old saying about time is money?


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## dodo (19 Feb 2008)

Just wondering with this FA at 7.15% interest rate,does this stop after a year and you go to a lower rate ie same as ECB.


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## ClubMan (20 Feb 2008)

No. But the rate is variable and subject to change as explained on the _FA _website.


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## eileen alana (22 Feb 2008)

I send off application for the FA esaver account on Friday 15th February and within a week I had confirmation that the a/c was opened. I was able to transfer funds immediately from my AIB current a/c and when I called FA two days later they confirmed they had received the funds. Since then, I have received the details necessary to access their online banking service. All in all I was very pleased with their customer service and prompt a/c set up.


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## Kingdomkerry (22 Feb 2008)

I got a FA Regular Savings account set up through the post. I wanted to feed it from an esavings account i planned to set up concurrently but was told I coud'nt transfer from esavings to regular savings? Is this wrong?

I am currently transferring from my aib notice 7 to my aib current account and then in to the FA reguar savings account. It would be alot easier to transfer my lump sum in the notice 7 to esavings and feed the regular savings account from this. 

Anyone else doing this?


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## ClubMan (22 Feb 2008)

Kingdomkerry said:


> I got a FA Regular Savings account set up through the post. I wanted to feed it from an esavings account i planned to set up concurrently but was told I coud'nt transfer from esavings to regular savings? Is this wrong?


I think you can only fund the regular savings account via_ DD_ and_ eSavings_ probably doesn't support that?


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## MysticX (23 Feb 2008)

The FA regular saver is SO only as far as I know and according to the best buys thread.... not sure if you can alternately do DD but the SO would be the preferred method as you have direct control over it, especially if you got online banking.

Anyways they're correct in saying you can't feed the regular savings from the esavings. There's no facility for SOs or DDs available for the esavings as far as I know.


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## ClubMan (23 Feb 2008)

MysticX said:


> The FA regular saver is SO only as far as I know and according to the best buys thread....


I'm pretty sure that the only option on the form was for _DD _and not _SO_.


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## MysticX (23 Feb 2008)

ClubMan said:
			
		

> I'm pretty sure that the only option on the form was for _DD _and not _SO_.


 
[broken link removed]



> **You are required to set up a Standing Order upon account opening to credit your account monthly


 
Likewise when I went in it was an SO, though to speed things up I kept the SO request they told me to give to my bank and just setup the SO online(very convenient to manage).

We are talking about the same product right?


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## ClubMan (23 Feb 2008)

Yes - regular saver account. I guess I was wrong so. I assumed that it was a _DD_ mandate on the application form. Maybe it was an _SO _mandate. I left it with them so presume that they send it on to my bank?


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## MysticX (23 Feb 2008)

Mmmm I got the SO mandate and was instructed to drop it into my bank.
I don't think an institution can instruct another institution to pay them funds from your account via SO? In practise SOs are instructions(and controlled) from the customer as opposed to DDs which are instructions from another institution.

Maybe if you signed the SO mandate they sent it to your bank on your behalf? Ah well nothing a call to your bank or checking your SOs online won't answer?


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## Darando (23 Feb 2008)

I just opened a FA reg savers on Thursday. Its definately a SO NOT a DD. I just signed the standing order form and was asked did I want to hand it into my bank or else they could post it for me. I told them to post it as it was 4.45 (handy that my FA branch opens until 5 compared to AIB!!!)

It should show up on my AIB 24 banking in a few days I guess. Bonus is that you can adjust your SO online (well AIB online banking anyway).

btw. I asked about how long the rate would last for in to the future - he said at least 6 months unless ECB rates drop but even then the rate should only drop in line with ECB - this was just his word nothing official - so non-commital I guess  they don't promise any rate so I guess I can't argue ..... (also said they are keen to keep the product and not slash rates like AIB and others)


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## trebor (28 Feb 2008)

Am I right in saying that there is no limit on the amount you lodge into this account if you change the date of the standing order from your feeder account. For example, could you set up for €1,000 to be transfered on the 1st of the month, then when that goes through change it to the 2nd of the month, etc. Or is the amount lodged limited to €1,000 per calender month? Hope my question makes sense


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## ClubMan (28 Feb 2008)

I'm pretty sure that it's a maximum of €1K in any one month and if you exceed that then the account is closed or reverts to some other lower rate.


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## trebor (28 Feb 2008)

Won't risk it so, thanks.


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## ClubMan (28 Feb 2008)

The account terms & conditions will clarify for sure. I don't have them handy and last time I checked _FA, _in their wisdom,did not have them online.


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## falcon7xs (29 Feb 2008)

Opened a First active regular saver and indicated on the application that i did NOT require an atm card....guess what arrives in the post today!!!!


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## ClubMan (29 Feb 2008)

Are you sure that it's not the card for the card reader security device?

If it is an _ATM _card and you are concerned about stamp duty charges then just don't use it (other than for checking balances if necessary).


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## falcon7xs (29 Feb 2008)

Definitely an atm card, I had assumed once it was issued the stamp duty was payable,thanks for the clarification. 
If only F.A. were as effective.


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