# Best Deposit Account for QUICK Access if needed



## guest1 (9 Sep 2011)

Hi Folks,

I'm basically looking for the best deposit account that will give me easy access to my money if I need it quickly, say within 3mths. My bank(AIB) keeps annoying me about the high balance I have in my current account so I figure its a good time to go do something about it and get my finances sorted.

I currently have:

>10k in an AIB Online Deposit 7 account
>20k in my AIB current account
  2-3k in shares in a well know Financial services company

What are my best options here. I'm also thinking of buying a house in the next year or so. I've been watching property prices like a hawk and so glad I didn't buy 2yrs ago as some of the house I was looking at the time came down by 40k or more. So I'd like to keep my money as liquid as possible, so 1yr fixed might not be the best option.

I am also mindful of the fact that these are extraordinary time we live in, where in the extreme maybe my deposit might not be safe. To be honest some of the posts I've read on here about folks diversfying into other assets for fear of currency devaluation scare the bejaysus out of me.

Any advice would be much appreciated.

Thanks


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## the-madman (9 Sep 2011)

Permanent TSB has fixed term 2 or 3 months 3.25% from 10 - 50k 

Rabo has instant access for 2.4%

AIB  *Online Notice Deposit 7* 3.50% AER* variable on all balances up to EUR10,000

you might google for ***************** they have a little (but slightly outdated) overview


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## guest1 (9 Sep 2011)

Thanks madman, how safe are those guys these days relatively speaking i suppose?

Also what about the AIB Direct: Premium Demand account @ 3.35%?

Would you touch that with a Barge Pole?


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## Lightning (9 Sep 2011)

Hey, 

Read the best buy thread here. 

If you have any questions after reading it, I am happy to help.


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## sadie (10 Sep 2011)

I put my house savings into the PTSB 2-month (60 day) deposit account recently.  Because you are still allowed take them out, but would lose interest based on the time remaining. 
Even if you see a house tomorrow, the sale will take at least 6 weeks at the very least to go through, so the penalties for taking it out would be relatively small because the term is only 60 days. 
So you'd just only need instant access to the booking deposit (usually around 2% of the purchase price) to give to the estate agent, and wouldn't need to pay the full 10% deposit until you were signing contracts another few weeks later, and wouldn't need to provide the whole amount until the drawdown of the mortgage cheque - possibly another couple of weeks later.


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## the-madman (13 Sep 2011)

*@MoMoney
*

*Premium Demand Account*

*The product information below  relates to accounts that were not transferred to Allied Irish Banks  p.l.c. and are still held with Anglo Irish Bank*


*I guess you wont get that one anymore. 
*


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## Lightning (13 Sep 2011)

the-madman said:


> *@MoMoney
> *
> 
> *Premium Demand Account*
> ...



This account is still available via AIB Direct.


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## guest1 (2 Oct 2011)

Thanks guys for all the replys and sorry for not responding in so long!

Basically my main criteria would be:

- Safe account
- Can be checked online
- Decent interest

Does anyone know if the AIB Premium demand can be checked online?

Would anybody else recommend a different account?


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## theresa1 (2 Oct 2011)

I can check my AIB (old Anglo) Premium Demand A/c online using AngloConnect. I'm sure it would be available to new AIB Direct Customer's as well.


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## Godfather (3 Oct 2011)

I would say NIB esaver because even if you're penalized for taking away money you can connect it to a free of charge c/a with NIB and send money within EU at 0-fees via internet banking, and money anywhere with some fees via same channel. Really great!


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## cavanMan (3 Oct 2011)

rabodirect.ie 

if you after security, can't get any better then those guys.


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## guest1 (5 Oct 2011)

What about the PTSB Fixed Rate deposit account?

There current 2 mount rate is a rather excellent 3.81%

Am I right in assuming that I could just keep rolling this over every two months?

Thanks


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## PolkaDot (5 Oct 2011)

MoMoney said:


> Thanks guys for all the replys and sorry for not responding in so long!
> 
> Basically my main criteria would be:
> 
> ...



Check out the Nationwide UK Ireland Easy Access Savings Account
[broken link removed]


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## guest1 (5 Oct 2011)

Thanks PolkaDot.

However I want to put about 30 grand in so I really want to maximize that interest rate as much as I can!

PTSB not recommended, no?


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## zbluebirdz (5 Oct 2011)

theresa1 said:


> I can check my AIB (old Anglo) Premium Demand A/c online using AngloConnect. I'm sure it would be available to new AIB Direct Customer's as well.



Regarding "AIB Direct Deposits":
1) No internet banking facility will be available. 
2) No email notifications facility
3) All statements/balance will be via post
4) Access to the money is via telephone
5) In branch access to account is frowned upon.

How do I know this? I talked to them. Ended up withdrawing my money as I could not tolerate a limited means of access to my money.


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## guest1 (5 Oct 2011)

Thanks zbluebirdz

Yes agreed, that is a bit ridiculous in this day and age.

I have decided I want to go with the PTSB 2 month account @ 3.81%.

I intend to roll the balance every two month at the same rate. I think its the best compromise in my circumstances. Can anyone think of reasons not to go with PTSB? safety or whatever reason


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## Lightning (6 Oct 2011)

Remember that PTSB may not pay the 3.81% at the time of rolling.


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## guest1 (10 Oct 2011)

Why not? Presuming the prevailing 2mth rate after two months remained the same, would it not roll over to a new period as if it a completely new agreement?


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## Lightning (10 Oct 2011)

MoMoney said:


> Why not? Presuming the prevailing 2mth rate after two months remained the same, would it not roll over to a new period as if it a completely new agreement?



PTSB frequently change their term deposit rates. There is a good chance that the rate will be different in 2 months time when it roles. 

If the rate stays the same then, yes, you will get 3.81% for another term.


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## guest1 (19 Oct 2011)

What would the best way to transfer funds to PTSB. Bank draft?


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## Lightning (20 Oct 2011)

MoMoney said:


> What would the best way to transfer funds to PTSB. Bank draft?



That would work or online wire transfer might be easier.


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