# AIB Feeder account - more info?



## Bluebean (8 Aug 2005)

hi all, 

I'm thinking of opening a 'feeder' account, somewhere that I can put approx 70 euro a month in to and then use to pay various utility bills throughout the year.  I currently bank with aib, using a current account and I also have a credit union account for savings.  I'm just wondering a couple of things:
1. Is it possible to open this seperate account without getting an atm card for it?  My plan is to tranfer the money in to my current account as and when I need it.
2. Are the charges the same for each account held with aib, or do you get any discount for having more than one account? (unlikey, but just in case !)

I know I could just either take the money out in cash + keep it in an envelope at home, but realistically I would probably end up dipping in to it.  

Are there any other options that people use?
thanks, 
BB


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## RainyDay (8 Aug 2005)

Bluebean said:
			
		

> 1. Is it possible to open this seperate account without getting an atm card for it?  My plan is to tranfer the money in to my current account as and when I need it.


Yes - Just tell them before hand that you definitely don't want an ATM card. How do you plan to withdraw the money from the account?



			
				Bluebean said:
			
		

> 2. Are the charges the same for each account held with aib, or do you get any discount for having more than one account? (unlikey, but just in case !)


I'm pretty sure they are the same. Would you consider opening an NIB Freebank account instead with no charges?

It seems like a lot of hassle for a fairly small amount (no offence). Can you just discipline yourself not to let your current account balance go below the relevant amount? Or just pay the money straight off the utility bills as soon as you get paid?


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## Bluebean (9 Aug 2005)

thanks Rainyday, no offense taken.  I know it is a small amount, but the plan would be to leave it in there if I (ever) had a month where I didn't have a bill, so that it might 'build up' over time to sort any larger bills.
I had intended to take it out by tranferring to my current account and then using my cashcard to withdraw it.

I will take certainly take a look at the NIB account also.  

thanks for your help,

BB


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## EC1 (10 Aug 2005)

I opened a feeder with AIB when I opened my SSIA account. I went in and asked the girl to set up the account (she hadn't a clue what I was talking about). Anyhoo, €63.50 comes directly from my current account on a weekly basis into the feeder and then the beginning of each month, the €254 is taken from the feeder and paid into the SSIA account. Handy ... I don't even miss the money.

However, after about six months of having the feeder, I realised I was paying charges (whch I was told I wouldn't have to). Went into the bank, gave off stink and had it credited back.


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## Wildone (30 Aug 2005)

Bluebean,

I think that the Masterplan account with AIB is designed for exactly what you are describing.  You can make lodgements to it on a monthly/weekly basis and use it to pay bills when the come around - eg car insurance, annual subscriptions.  It just means that the cost of the bills are spread out over the year evenly.


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## asdfg (30 Aug 2005)

> Anyhoo, €63.50 comes directly from my current account on a weekly basis into the feeder and then the beginning of each month, the €254 is taken from the feeder and paid into the SSIA account.


 
63.50 * 52 = 3302
254.00 *12 = 3048

So you have 254 per annum in you bank account. Don't forget this


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