# Where to save in 2008



## SS expert (5 Nov 2007)

So Rabo are reducing there rate on the 1/1/08

AIB regular savings acc is changing to the ECB rate on the 1/1/08
in Feb EBS regular savings acc is changing to the ECB rate,

anyonw know whats the deal with norhtern rock etc?


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## Sunny (5 Nov 2007)

SS expert said:


> So Rabo are reducing there rate on the 1/1/08
> 
> AIB regular savings acc is changing to the ECB rate on the 1/1/08
> in Feb EBS regular savings acc is changing to the ECB rate,
> ...


 
Where did you hear that rabo were changing their rate?


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## ClubMan (5 Nov 2007)

On [broken link removed] presumably?

[broken link removed]


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## Sunny (5 Nov 2007)

It doesn't say they will change it for sure though so nobody knows what will happen.


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## ClubMan (5 Nov 2007)

Yes - but the default in the absence of any statement to the contrary is that the rate will fall.


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## carpedeum (5 Nov 2007)

Rabo may reduce their rate, gambling that inertia of some depositers and their superior online systems will minimise the movement of funds to the likes of First Active and others who have raised the ante in recent months. 

I hope that when Northern Rock are rebranded that they might inject some more competition into the market.


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## ClubMan (5 Nov 2007)

As things stand _Rabo _*will *reduce their rate - although it's not clear from their website what their "standard variable rate" is (is it 3.75% or maybe even 2.75% mentioned [broken link removed]?).


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## sulo (5 Nov 2007)

"The rate will be reviewed for January. At the moment we are stating that it will revert to our standard variable rate of 3.75%. However it is possible it may stay the same but as January is still a good while away it is too soon to give a figure at this stage." Email from Rabo Customer Services.


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## ClubMan (5 Nov 2007)

Thanks - so the de facto situation is that their rate will fall from 5% to 3.75%. In the absence of any authoritative statement to the contrary that is all that we can go on in the context of the original query. [broken link removed] guarantee at least the _ECB _base rate (currently 4%) until 2009. I guess that some of the rate guarantees are already listed in the _Financial Best Buys_ forum lists? If not then perhaps it would be a good idea to collate such info and annotate the lists with it?


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## Digger (5 Nov 2007)

EBS are not due to revert to the lower ECB rate until 1/4/08, 
Anglo Irish and Bank of Ireland and now First Active will be the best
deposit a/c's


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## Jethro Tull (5 Nov 2007)

anglo's 30 day notice account guarantees to match ECB til 1/1/09. No idea about their easy access or 10 day notice accounts.


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## RaboDirect (6 Nov 2007)

*RaboDirect rates - 2008*

We are in the midst of planning for 2008. We won't comment on any proposed changes to rates on our demand account until December. RaboDirect has been a very competitive player since our launch in 2005 and will continue to offer our customers an attractive combination of rate, superior online security, access to funds backed by a AAA-rated bank.


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## Guest127 (6 Nov 2007)

Interest on Saving Certs and Savings Bonds have recently been increased by the NMTA (?) and are  tax free.  Haven't considered moving from FA myself yet but if they drop  next year might well do. Don't think  the ECB rate will decrease this year or early next ( German inflation). The FA rate (with strings) is around 4.50 for over €15000 and without strings but a lot of difficulty is  5%


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## ClubMan (6 Nov 2007)

*Re: RaboDirect rates - 2008*



RaboDirect said:


> We are in the midst of planning for 2008. We won't comment on any proposed changes to rates on our demand account until December. RaboDirect has been a very competitive player since our launch in 2005 and will continue to offer our customers an attractive combination of rate, superior online security, access to funds backed by a AAA-rated bank.


Thanks for the sales pitch!


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## Brendan Burgess (6 Nov 2007)

*Re: RaboDirect rates - 2008*



RaboDirect said:


> We are in the midst of planning for 2008. We won't comment on any proposed changes to rates on our demand account until December. RaboDirect has been a very competitive player since our launch in 2005 and will continue to offer our customers an attractive combination of rate, superior online security, access to funds backed by a AAA-rated bank.



And will you continue to send spam to non customers as well to tell them all about this great stuff? 

Brendan


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## Godfather (7 Nov 2007)

*Re: RaboDirect rates - 2008*



RaboDirect said:


> We are in the midst of planning for 2008. We won't comment on any proposed changes to rates on our demand account until December. RaboDirect has been a very competitive player since our launch in 2005 and will continue to offer our customers an attractive combination of rate, superior online security, access to funds backed by a AAA-rated bank.


 
Dear Rabodirect, a few days ago I got an e-mail to my "rabo account" stating some changes in the T&Cs. There was a link to your web-page with the T&Cs but no mention about which changes occurred (!!!).

Could you please be a bit more "transparent" when you change the T&Cs by specifying which ones you changed ?


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## rob30 (13 Nov 2007)

I rang Rabo today. after I finally clicked that I could earn more on my savings elsewhere ( i know, customer inertia). I was told they will be reviewing their rates in December. Surely they will have to go up, to keep up with the first actives and anglo irish banks of this world!


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## ClubMan (13 Nov 2007)

Well at the moment the only indication we have (on their website) is that their rates will go *down*.


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## TSThomas (13 Nov 2007)

There was a piece on the radio this morning indicating that the ECB interest rate *may *even be lowered due to how the Euro is performing.


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## diarmuidc (13 Nov 2007)

TSThomas said:


> There was a piece on the radio this morning indicating that the ECB interest rate *may *even be lowered due to how the Euro is performing.


Really? I doubt that very much. Maybe some construction/real estate commentator hoping against hope but the Eurozone economies have been very strong of late.


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## TSThomas (14 Nov 2007)

That's what was indicated (again this morning) anyway; first or second quarter 2008 - .5% drop overall possible. Guess they'll be giving their usual signals a few months beforehand if it is the case.


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## Guest127 (14 Nov 2007)

Sunday Times. Page 4 business section. Damien Kilbert states that it will   be interesting to see if Jean-Claude Trichet can withstand the growing pressures on European business while holding rates at present levels. .......Germans are the world's biggest exporters .... but their resolve must crack at some point ... enough is enough etc etc.

Same page.  David Smith -  referring to the Bank of Englands decision to leave interest rates unchanged at 5.75%............states the danger of food and energy prices increases keep inflation and interest rates too high for comfort ....

so it would seem from those two 'experts' that an ECB and BOE interest rate cut is on the cards. 'course they are not ministers, merely journalists.


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## shanegl (14 Nov 2007)

> states the danger of food and energy prices increases keep inflation and interest rates too high for comfort


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## Guest127 (14 Nov 2007)

take it to mean that they would like to reduce the interest rate but with food (and oil) adding to inflation are unable to do so at present.


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## domadd (14 Nov 2007)

I am a good active customer of Rabo (Savings and Investments) . I can assure them if their rates are not competitive in 2008 then I will be walking too.


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## Godfather (15 Nov 2007)

Certainly if Rabo's rate won't be so good I'll move most of my money away as well but I'll keep my account open because of their good rating on security.


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## carpedeum (15 Nov 2007)

Three of us discussed this last night and agreed that we would all move if Rabo became even less competitive. 

Rabo have already lost some ground to First Active (5.22% for total deposit up to 15000; 4.33% if  total greater than15000).


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## Godfather (15 Nov 2007)

carpedeum said:


> 4.33% if total greater than15000


 
Their ECB linked account even gives 4.57% for any sum more that 15K you can deposit with them...


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## sherib (15 Nov 2007)

> _Can you take 10 minutes to complete our short RaboDirect Customer Questionnaire? If you do, you could be one of 5 lucky RaboDirect customers to win a *€200 deposit into your RaboDirect Savings Account. *_


I received an email from Rabo - above is an extract. It's lengthy but there is an opportunity to say what you don't like about Rabo. I said I wasn't at all happy with their savings rate over €10,000 and that Rabo didn't compare favourably with other banks. Maybe if everyone makes their complaint/s on this questionaire they might listen

Just had a thought - maybe the survey is a random sample so not everyone will receive that questionaire. Has anyone else received it? Anyway since _Rabo_ posts on AAM complaining here is probably as good a way to go.


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## NHG (15 Nov 2007)

Sherib, just after filling out the survey and yes, I pointed out the very same issues as you mentioned.


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## queenlex (16 Nov 2007)

What about NR's rates going up they've ben static for a good while now and after being market leaders for a long time are now fairly uncompetitive.

might have to move more funds from there than already planning to!


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## legend (16 Nov 2007)

i too have a large deposit and investments with rabo as i find their on line facility very good...... saying that others are catching up and will have no hesitation in moving money to where it will attract a better rate in 08.


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