# Anglo Irish Annual Regular Savings Account



## Bobby1

Just read in the Indo there that Anglo Irish are closing off their existing Regular Savings account from Monday to new business and replacing it with a new *8%* account! 

Access to funds will be allowed after 6 months of opening and max DD is still €1,000

No word on the website yet though

Nice!!!


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## jrewing

*Re: Anglo Irish launches new 8% Regular Savings Account*

Any news on what happens to existing regular savers (on 7% rate) ? I assume we cannot transfer built up lump sum into the 8% account, but need to keep saving in that account to maintain the 7%...


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

[broken link removed]


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## niallmur

*Re: Anglo Irish launches new 8% Regular Savings Account*

no your existing 7% will not be transfered to 8%. you can open a new 8% account. but will have to continue the minimum amount deposit on the 7% account


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## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*

The Financial Regulator yesterday (June 4th 2008) published its first ever regular savings account comparisons on its personal finance website (www.itsyourmoney.ie). The comparisons highlight various regular savings accounts, which show that interest rates on regular savings accounts vary from just over 3% to over 7%. ALBK offers a rate of 7.3% but with a maximum lodgement of €300/month. BKIR offers 7% with a maximum of €500/mth. IPM's 21-day notice account offers 5.75% at a maximum of 1000/month. Yesterday also saw ANGL announce a new regular saver product that pays 8% for a one-year term but with unlimited withdrawals allowed after six months.
These competitive rates highlight the demand on the part of banks for customer deposits as wholesale rates remain high (Euribor 3mth 4.864%) and they seek to grow their loan books more in line with deposits. ANGL has the lowest loan/deposit ratio of 127%, with IPM the highest at 288%. BKIR and ALBK both have a ratio of 157%


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

so you can have 2 RSAs? I doubt that, but could be wrong.


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## niallmur

*Re: Anglo Irish launches new 8% Regular Savings Account*

i rang Anglo because i have a 7% myself and they said there is no problem opening an 8% account aswell.


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## bacchus

*Re: Anglo Irish launches new 8% Regular Savings Account*



Bobby1 said:


> and max DD is still €1,000


 
max DD is €2,000pm with current 7% regular saver (joint a/c)


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

New 8% account only lasts for a year.


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*

This is great news. Forms available from Monday. Possible to run both accounts concurrently.

I recommend anyone with a lump sum to open a 7% account before COB Monday if at all possible. I set mine up last week. All I have to do to set up the second account is send in the form on Monday.


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



jambo.ie said:


> I recommend anyone with a lump sum to open a 7% account before COB Monday if at all possible.


Why - what's the rush? If you mean [broken link removed]:


> (The current Regular Saver Account (2 year term) is closed for new applications from close of business Monday,  June 9th 2008.)


then doesn't that apply to the *old *7% _RSA_?


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

Yes, hence if you want a 2 year account (currently at 7%) you should open it ASAP.


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Duh! Sorry. Coffee han't kicked in ...


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## caoimhe

*Re: Anglo Irish launches new 8% Regular Savings Account*

I know the regular saver will grab the headlines because of the 8% rate but that link also states that they're offering a 6 month fixed term account at 5.35% for any amount!!! That's a much more significant offer than the regualr saver and makes me happier.


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## N/SIDEPEOPLE

*Re: Anglo Irish launches new 8% Regular Savings Account*

What’s appealing about opening Anglo’s 2yr 7% reg saver a/c before it closes, if you have a lump sum? 

This interest rate is a variable rate only guaranteeing 4.5% (possibility to change anytime from 7% to 4.5% during the 2yrs).  

FA (7.15%), AIB (7.3%), INBS (7.35%) all offer better rates during their term. One has the ability to save a cumulative amount of €2,300 opening these 3 together. & per ‘Emma Kennedy’s article in Sun Business Post, June 1st; ‘EBS are planning to launch a second tranche of regular  savings product this month paying a very competitive rate’ Any Word on launch date?


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## camlin90

*Re: Anglo Irish launches new 8% Regular Savings Account*

"Unlimited withdrawals after 6 months". What are the restrictions for the first 6 months I wonder?


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

It's possible the Indo confused EBS with Anglo. Or perhaps not.

Some might prefer the 2 year account to the new 1 year account because the effective maximum balance is higher in the former. Similarly, AIB have launched a 10% regular saver account, but the most you can have in it is 12 x €300 (unless you open lots of accounts!).


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*



N/SIDEPEOPLE said:


> What’s appealing about opening Anglo’s 2yr 7% reg saver a/c before it closes, if you have a lump sum?
> 
> This interest rate is a variable rate only guaranteeing 4.5% (possibility to change anytime from 7% to 4.5% during the 2yrs).
> 
> FA (7.15%), AIB (7.3%), INBS (7.35%) all offer better rates during their term. One has the ability to save a cumulative amount of €2,300 opening these 3 together. & per ‘Emma Kennedy’s article in Sun Business Post, June 1st; ‘EBS are planning to launch a second tranche of regular savings product this month paying a very competitive rate’ Any Word on launch date?


Because with my configuration you can deposit up to 5150 per month @ >=7%.

Anglo 1000
Anglo 1000
BOI 500
Hal 350
AIB 300
FA 1000
IN 1000


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



John J said:


> "Unlimited withdrawals after 6 months". What are the restrictions for the first 6 months I wonder?


From www.itsyourmoney.ie


> A withdrawal [in the first 6 months] will result in the account being closed and the remaining balance and all interest accumulated up to that point will be transferred into an Easy Access account. An Easy Access account pays an interest rate of 4.50% AER.


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## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> the remaining balance and all interest accumulated up to that point will be transferred into an Easy Access account. An Easy Access account pays an interest rate of 4.50% AER.


 
4.5% aint the worst rate if you were badly stuck for a few grand before the initial 6 months were up!


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## dublinhead

*Re: Anglo Irish launches new 8% Regular Savings Account*

I just opened this account. I Left a voice message and got a call back at 7.45pm. Gave me the new account number over the phone as I was already an existing customer.


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## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

I have just opened a NIB 7.35% account on Tuesday. I deposited a grand and set up a SO for €1,000 per month. Would I be better off going back in taking it out out cancelling the DD on monday and putting it in to Anglo? I know 8% is better than 7.35% but there may be other factors


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## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*



MugsGame said:


> Yes, hence if you want a 2 year account (currently at 7%) you should open it ASAP.


 
Why could you open an 8% with a monthly SO of 1,000 and a 7% of say 10 and then when the 8% is up after a year transfer what you have saved in to the 7% acc?​


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

I assume you mean Irish Nationwide, not NIB?

Generally you can't make lump sum lodgements to regular saver accounts. So you can't move accumulated balances from one regular saver into another. This is why short term offers like 8% (from Anglo) or 10% (from AIB) may not be as attractive as longer term accounts where you have a chance to build up a decent balance, albeit at a slightly lower rate.


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## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

Theres no regular saver account with a high rate that goes beyond june 09 so if your saving regularly youd be better off putting it in to Anglo right?


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## DELLBOY 08

*Re: Anglo Irish launches new 8% Regular Savings Account*



Kingdomkerry said:


> I have just opened a NIB 7.35% account on Tuesday. I deposited a grand and set up a SO for €1,000 per month. Would I be better off going back in taking it out out cancelling the DD on monday and putting it in to Anglo? I know 8% is better than 7.35% but there may be other factors




As part of the T & C's of opening a new savings account you are usually given 14 days where you can close the account without any penalties.


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## RedDevil

*Re: Anglo Irish launches new 8% Regular Savings Account*

I just opened one of the 8% accounts
As I had the 7% account it took a minute
Changed a digit number as to the other account
All over the telephone


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



RedDevil said:


> I just opened one of the 8% accounts
> As I had the 7% account it took a minute
> Changed a digit number as to the other account
> All over the telephone


I tried that (I'm an existing 7% _RSA _account holder) and they told me that I'd have to wait until Monday when the forms are on their website...


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## RedDevil

*Re: Anglo Irish launches new 8% Regular Savings Account*

I did this about 20 minutes ago I rang 01 6162494


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

the form is on the website! [broken link removed]


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*



> I tried that (I'm an existing 7% RSA account holder) and they told me that I'd have to wait until Monday when the forms are on their website...



Me too


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## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

Can you not just go in to the branch and set it up, give them a grand and set up a SO for the first of every other month?


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*



Kingdomkerry said:


> Can you not just go in to the branch and set it up, give them a grand and set up a SO for the first of every other month?



first of every month, surely?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

I've funded the 7% account manually through electronic transfers because it allows me more control than leaving it to a _DD/SO _(e.g. I can time the monthly payment, skip it or do multiple transfers within a single month if I so choose).


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*

I tried to set this up once yesterday and once today. Both times I was told to wait until monday. I was hoping to open it so that I could synch my SOs for tomorrow. Then I realised I can make my deposit in the 8% whenever I like this month and then put it on the SO for next month. I can sleep easy for the weekend now.


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## dublinhead

*Re: Anglo Irish launches new 8% Regular Savings Account*



RedDevil said:


> I just opened one of the 8% accounts
> As I had the 7% account it took a minute
> Changed a digit number as to the other account
> All over the telephone


 

Same as myself, gave me a new  account number with the last digit changed. Tool less then a minute. Lodged 1000 euro  by electronic transfer today.


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## groom

*Re: Anglo Irish launches new 8% Regular Savings Account*

The minimum rate for this account is ECB + 2% so it is probably unlikely to be raised above 8% if the ECB raise their interest rate as expected next month whereas other reg savers will automatically be raised.


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## Fanny

*Re: Anglo Irish launches new 8% Regular Savings Account*

I have a 7% Regular Saver with Anglo. I was going to take it all out in October (closing one month earlier) as I was abit concerned about Anglo's liquidity. 
I can imagine they introduce the 8% saver now to counterbalance all the savers who will collect their savings after the first 2 year term (November). Sounds like a good plan to keep the customers. My experience with the bank is very positive so far, however, as only 20K are guaranteed (just 90%) I'm looking for the best account to invest the lump sum (16.000EUR) of the 7% saver and then drop-feed re-invest some of it into Anglo's 8%. The lump sum account should be an account that allows a standing order to Anglo. 

Fanny


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



groom said:


> The minimum rate for this account is ECB + 2% so it is probably unlikely to be raised above 8% if the ECB raise their interest rate as expected next month whereas other reg savers will automatically be raised.


_ECB _increases will only impact the rate payable if the _ECB _rate rises it's current value of 4% to more than 6% in the next year or so!


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## Colblimp

*Re: Anglo Irish launches new 8% Regular Savings Account*

Went into the Cork branch today to just ask about the account.  The woman on reception didn't have a clue and asked me to take a seat for a few minutes.  Fifteen minutes later I still hadn't been seen.  I went back up to her and she informed me that they were short staffed and someone would see me soon.  I walked out.  They obviously don't want the business...


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Just print the form off, fill it in and send it in with the necessary documentation (if applicable)?


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## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*



Fanny said:


> I can imagine they introduce the 8% saver now to counterbalance all the savers who will collect their savings after the first 2 year term (November).


 
mine matures on the 28th of august


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

Mine matures at the end of July.


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## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> I've funded the 7% account manually through electronic transfers because it allows me more control than leaving it to a _DD/SO _(e.g. I can time the monthly payment, skip it or do multiple transfers within a single month if I so choose).


 
It seams Anglo dont mind EFT


> • Once your account is open we will contact you with details of your account number, together with instructions of how to transfer your funds electronically to Anglo Irish Bank.​


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## TSThomas

*Re: Anglo Irish launches new 8% Regular Savings Account*



gravitygirl said:


> the form is on the website! [broken link removed]



Just printing off now, thanks


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## nansus

*Re: Anglo Irish launches new 8% Regular Savings Account*

My 7% A/C actually expires Mon and I had made arrangements to renew from Tues. I got a call from Anglo yesterday (Fri) advising me of the Term changes( 1 yr  8% etc)

From what I could gather the 8% is only an i*ntroductory* offer and not guaranteed. What is guaranteed is *ECB +2%*


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

nansus, by arrangement to renew i take it you mean you were going to set up a new 2 year account at the 7% (prior to this 8% new announcement), with a starting balance of zero? i was wondering about this myself until the new product was announced!


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*



nansus said:


> From what I could gather the 8% is only an i*ntroductory* offer and not guaranteed. What is guaranteed is *ECB +2%*



If there's no guarantee, is it worth taking the chance and opening one? That said, I suppose the majority of other reg. saver a/c's aren't guaranteed either.


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

if the rate drops just withdraw the money, thereby closing the account, and get the interest accumulated up to that point. there is no downside in that respect: you aren't tied in.


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## nansus

*Re: Anglo Irish launches new 8% Regular Savings Account*



gravitygirl said:


> nansus, by arrangement to renew i take it you mean you were going to set up a new 2 year account at the 7% (prior to this 8% new announcement), with a starting balance of zero? i was wondering about this myself until the new product was announced!



Thats correct


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## nansus

*Re: Anglo Irish launches new 8% Regular Savings Account*



DoshDaisy said:


> If there's no guarantee, is it worth taking the chance and opening one? That said, I suppose the majority of other reg. saver a/c's aren't guaranteed either.



It is worth opening.
 I was only pointing out that it seems the 8% is not guaranteed. I think most posters assumed it was.


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



nansus said:


> My 7% A/C actually expires Mon and I had made arrangements to renew from Tues. I got a call from Anglo yesterday (Fri) advising me of the Term changes( 1 yr  8% etc)
> 
> From what I could gather the 8% is only an i*ntroductory* offer and not guaranteed. What is guaranteed is *ECB +2%*


The 7% rate was never guaranteed in full either but they never reduce it. Even _ECB _+ 2% = 6% right now isn't bad and if you don't like it then just close the account and move elsewhere.


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## Fanny

*Re: Anglo Irish launches new 8% Regular Savings Account*

Right, I thought I was one of the first who opened this type of account but I was wrong, it was actually on the market for a few months so the first ones mature soon. Makes perfect sense for the bank to introduce the new offer now. 
The 7% was never guaranteed either, as Clubman says, I think they even up-ped it, it was initially lower than 7% when I opened it. 
What do you all do with the lump sum before you start again with a new 8% account, leave it with Anglo, move it to another bank and drop-feed? Jethro? Gravitygirl? Any concern about Anglo security, if you leave lump sum there? 

Fanny


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



Fanny said:


> Right, I thought I was one of the first who opened it but I was wrong, it was actually on the market for a few months so the first ones mature soon.


Just to clarify - this thread is about the 8% regular saver which is new and only opened this week. The 7% one has been on the go for nearly two years now. Similar products but even apart from the rate not the same.


> I think they even up-ped it, it was initially lower than 7% when I opened it.


Correct. When I opened it they were paying 6.75%.



> What do you all do with the lump sum before you start again with a new 8% account


Keep it in the lump sum deposit account offering the best rate - e.g. _NR Demand Online _5% on €1K+, _FA eSavings _5.22% on up to €15K, _Halifax FlexiSaver _5.15% on up to 10K etc. All in the _Financial Best Buys _lists and on www.itsyourmoney.ie


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## Fanny

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks for clarifying, Clubman. 
I have a Halifax Flexisaver and want to drop-feed the new 8% Anglo saver. I was just wondering if there was a cleverer solution as I cannot set up a standing order from any of the existing lump sum accounts I have and won't have time to manually take it to the bank every month. Any account that earns > 4% out there AND allow a SO? Just in case anyone knows. I'm checking this out looking at other treads at the same time. Regards, Fanny


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

rabo allow for SOs


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## DELLBOY 08

*Re: Anglo Irish launches new 8% Regular Savings Account*



Fanny said:


> Thanks for clarifying, Clubman.
> I have a Halifax Flexisaver and want to drop-feed the new 8% Anglo saver. I was just wondering if there was a cleverer solution as I cannot set up a standing order from any of the existing lump sum accounts I have and won't have time to manually take it to the bank every month. Any account that earns > 4% out there AND allow a SO? Just in case anyone knows. I'm checking this out looking at other treads at the same time. Regards, Fanny



Anglo dont demand that you to set up a standing order. You can make payments via electronic transfer. I dont know anything about the Halifax Flexisaver account but I transfer money from my First Active E-Savings account (5.22% AER) to my regular saver accounts in Anglo & INBS. I just added both accounts to the list of payees on my E-Savings account & make the payments myself each month. I cant see any reason why a bank would care (or even know) whether its a standing order or manual payment as long as the money enters the account every month.


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## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*

I have a 7% account with anglo which is not due to mature untill next Feb. 
Can I just stop paying into that account and leave it rest untill Feb and open a new 8% account instead?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



pator said:


> I have a 7% account with anglo which is not due to mature untill next Feb.
> Can I just stop paying into that account and leave it rest untill Feb and open a new 8% account instead?


Yes.


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*



pator said:


> I have a 7% account with anglo which is not due to mature untill next Feb.
> Can I just stop paying into that account and leave it rest untill Feb and open a new 8% account instead?


You can miss one payment without penalty. It's not clear if you can miss more than one. A better option may be to reduce your payments to the minimum (€100) and save the balance into the 8% account.


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## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> When I opened it they were paying 6.75%.


 
I started on 5.5%, it was a great rate at the time!

as far as i can remember (and feel free to correct me) they were the first bank to offer a high rate on regular savers so i opened one almost instantly


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## Colblimp

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Just print the form off, fill it in and send it in with the necessary documentation (if applicable)?



That's all very well but it says one needs two forms of photo ID - I only have one, my passport


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



Colblimp said:


> That's all very well but it says one needs two forms of photo ID - I only have one, my passport


Ah - in that case I guess you'll have to open it in person.


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*

I opened one over the phone yesterday (exisiting customer) by calling the number listed on this thread. Anyone else I called wouldn't do it for me.


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Janey - I must try posting my personal number here and see if I can make a few bob on initial "lodgements" on the side before doing a runner!


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## jambo.ie

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Janey - I must try posting my personal number here and see if I can make a few bob on initial "lodgements" on the side before doing a runner!


I gave them my account number and they gave me my name back. It'll be ok.


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## shaking

*Re: Anglo Irish launches new 8% Regular Savings Account*

anyone know can you have 2 of these one joint names one in single name?


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## DrMoriarty

*Re: Anglo Irish launches new 8% Regular Savings Account*

No. One or t'other.


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## shaking

*Re: Anglo Irish launches new 8% Regular Savings Account*

thanks


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## Slim

*Re: Anglo Irish launches new 8% Regular Savings Account*

Sorry if this has already been asked...but the website says

"...
Generous maximum monthly contribution limit of €1,000 per applicant"

If we open a joint account, can we deposit €2,000 per month?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Yes.


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## Slim

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks for the prompt reply Clubman.


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Opened mine yesterday but haven't made an initial lodgement yet. Should I do that now and is there a recommended date on which to make an electronic transfer each month?  (obviously before the 28th so it doesn't run into the next month) 


Thanks


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

You can do it any time. If it did hit the account in the following month then you just miss out on contributing this month. You can also make multiple transfers in a single month as long as you don't lodge more than the €1K per account holder in any one month.


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks Clubman


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

How will the interest be calculated?  For instance, if I save a grand for each of the 12 months, (and assuming the 8% rate holds), what interest (after DIRT) would I get?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Approximately €514 gross or €411 net according to this calculator using 8% as the rate (actual monthly compounding rate used may be different so this calculation may overestimate the returns).


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Interesting, so it's not simply 8% of your total saving less DIRT.  Pity!   

This calculator yields a similar (gross) number:

[broken link removed]

Is there a formula to use when calculating, specific to this a/c?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Of course not. Only the first €1K is on deposit for 12 months, the next for 11, the next for 10 etc. If the nominal compounding rate equivalent to the _CAR _or 8% is x then the formula is 

€1K @ x% + €1K @ 11/12 * x% + €1K @ 10/12 * x% etc.

But the calculator is easier to use.


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Interesting - so have I got this right? - depending on how much you can save each month, saving more in the earlier months (of the 1 year term) means a much better pay-off than saving less in the earlier months and more in the later months (if you catch my drift!) ???


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Yes. The longer money is on deposit the higher the interest returns.


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## DoshDaisy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks again for your advice (and patience!) ClubMan


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## October2c

*Re: Anglo Irish launches new 8% Regular Savings Account*

From the calculation on the Rugular Saving.
Isn't it I better off to put the lump sum into the 6 months Fixed term account instead of feeding from my lump sum saving into this regular saving account?


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## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*

4 Withdrawals
4.2 If you close your Account we will pay interest *up to the date of closure* at the applicable rate for the Regular Annual Saver Account.​ 
I like this!!!​


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## Abbeykiller

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Of course not. Only the first €1K is on deposit for 12 months, the next for 11, the next for 10 etc.



What happens after the 12 months - it looks from the Ts & Cs that it you can only save for 12months - does anyone know if they will just stop taking in money but leave the lump sum on deposit at the prevailing rate (minimum ECB + 2%) ?
Is this what has happened with the 7% accounts ?


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## oldtimer

*Re: Anglo Irish launches new 8% Regular Savings Account*

When the 7% accounts matured options were given to put the lump sum on deposit in one of their existing products - no special offer, just their prevailing rates for lump sums.


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## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*



oldtimer said:


> When the 7% accounts matured options were given to put the lump sum on deposit in one of their existing products - no special offer, just their prevailing rates for lump sums.



which were rather annoying (and strangely!) lowered a few days ago


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## techman

*Re: Anglo Irish launches new 8% Regular Savings Account*

When opening this account, can you make two lodgements of €1,000 each in the first month i.e. an initial lodgement of €1,000 to open the account and another lodgement of €1,000 in the same month.

I see from the Best Buys that the effective maximum balance is €13,000 after one year.

Am I right in this?


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## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

You can only make one lodgement in each calendar month. €13,000 comes from the anniversary month, where you can make a final lodgement before the account maturity date.


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## emsman

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Approximately €514 gross or €411 net according to this calculator using 8% as the rate (actual monthly compounding rate used may be different so this calculation may overestimate the returns).


 
I dont understand this. what other deductions are there apart from DIRT?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



emsman said:


> I dont understand this. what other deductions are there apart from DIRT?


None - what I was getting at is that I was using the _CAR _in my calculations but the actual correct rate for such calculations may be the nominal or some other rate which compounds to dictate the _CAR_.


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## Frank Grimes

*Re: Anglo Irish launches new 8% Regular Savings Account*

I would also be interested to know this. Is the return greater on putting €10k in the 6 month fixed term @ 5.35% and then into a 5% interest account for the next 6 months or is drip feeding into the 8% regular savings from an account earning 4% at present the better option? 




October2c said:


> From the calculation on the Rugular Saving.
> Isn't it I better off to put the lump sum into the 6 months Fixed term account instead of feeding from my lump sum saving into this regular saving account?


----------



## Frank Grimes

*Re: Anglo Irish launches new 8% Regular Savings Account*

found a savings calculator online and it worked out as follows:

Drip feed 12k from a 4% a/c to the 8% at a rate of 1k a month
results in interest of €225 + €532 after 12 months = €757

Drop 12k into 6 month fixed term @ 5.35% and then into 5% a/c for 6 month = interest of €324 + €303 = €627

all interest is gross of DIRT.


----------



## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

I sent the application form off on Tuesday and have heard nothing back. How long has it taken others. I want to have it set up in time for a grand to go in to it on the 1st of every month.


----------



## techman

*Re: Anglo Irish launches new 8% Regular Savings Account*

I called into the branch. New customer. Done in 5 minutes and got the account number as well. Made electronic transfer that day. Also got the application form to register for Anglo online banking. Just bring one photo id and one utility bill for address verification.


----------



## Guest128

*Re: Anglo Irish launches new 8% Regular Savings Account*



techman said:


> I called into the branch. New customer. Done in 5 minutes and got the account number as well. Made electronic transfer that day. Also got the application form to register for Anglo online banking. Just bring one photo id and one utility bill for address verification.


 
When you say electronic transfer I assume you mean you used online banking from an existing current A/C with some other bank (since you say you only go the forms to register with Anglo online). Did it not take a week to set up the savings A/C as a registered transfer account or it is just BOI that takes ages for that?


----------



## tadpole

*Re: Anglo Irish launches new 8% Regular Savings Account*



FLANDERS` said:


> Did it not take a week to set up the savings A/C as a registered transfer account or it is just BOI that takes ages for that?


With Halifax you can setup a payee A/C and send money to it immediately.


----------



## Guest128

*Re: Anglo Irish launches new 8% Regular Savings Account*



tadpole said:


> With Halifax you can setup a payee A/C and send money to it immediately.


 
BOI you ring up, ask them to add it, they then send you a letter a week later with a pin to activate it. Apparently its for security buts its really annoying


----------



## bravo

*Re: Anglo Irish launches new 8% Regular Savings Account*

Hi all,
Just after opening the 8% account. First time dealing with Anglo. Opted on the application form for electronic transfers. Sent the forms and verification documents on Monday, and this document arrived today called a "confirmation" like  a statement, no letter, nothing - it had an account number which didn't seem to match regular bank account no.s and no sorting code, no balance as I aimed to make the first lodgement electronically.
Rang them - guy gave me sort code,  but was very vague and what I was to do from here - according to him any number of deposits in any calender month to a max of €1000, you can set up a SO or manually transfer each month, date doesn't matter as long as its in that month. So that's all I have to go on so far - can anyone shed any light on the true situation? 
I also had to request that the original utility bills sent to verify address were returned. I don't have a branch close to me to drop in.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



bravo said:


> Rang them - guy gave me sort code,  but was very vague and what I was to do from here - according to him any number of deposits in any calender month to a max of €1000, you can set up a SO or manually transfer each month, date doesn't matter as long as its in that month. So that's all I have to go on so far - can anyone shed any light on the true situation?


I'm surprised you seem to be having problems dealing with them. I have dealt with _Anglo _for years and have always found them to be professional and efficient. 

If you are going to fund the account using electronic transfers (e.g. from online banking with another bank) then you need to get the _Anglo _account sort code and account number to set up the required _EFT (Electronic Funds Transfer) _on your other account. How you do this depends on your other bank's procedures. Some (e.g. _Halifax, AIB _(?)) allow you to set them up online while others require you to contact them by phone or even post to get new _EFT _payees set up. I had no problem getting the details (sort code and account number) from _Anglo _when I opened the 7% regular saver over a year ago. Once you have done this then you can fund the _Anglo _account is any number of transactions in any one month once the total does not exceed €1K.

You can also contact _Anglo _to register with www.angloconnect.com to see your accounts online if you like.


----------



## techman

*Re: Anglo Irish launches new 8% Regular Savings Account*

Flanders,

Funding the account from an AIB account. Can add accounts with AIB Online Banking.


----------



## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

As I said


MugsGame said:


> You can only make one lodgement in each calendar month.



Or more strictly, the maximum amount you can lodge in a calendar month is €1000 (across however many lodgements you like.). So what techman proposes is not possible (at least not according to the terms and conditions). 

The rest of my post explains why the Best Buys say €13,000 is the maximum balance; 12 months duration can be spread over 13 calendar months, e.g. opening lodgement on the 20th, and electronic transfers on the 10th of every month following.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



MugsGame said:


> You can only make one lodgement in each calendar month.


Not true. You can make as many lodgements in any one month as you like as long as you don't exceed the €1K per account holder limit on total monthly amounts.


----------



## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

Didn't I just say as much? The main point is the max of €1000 in a calendar month, which is relevant to what techman proposed.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

I was responding to your earlier post before seeing your later one.


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*

Have opened the 8% account, all very easy as I have found usual with Anglo. 

Does anybody know is it still possible to make lodgements to anglo accounts through the Bank of Ireland network? I know it was in the past when I had a 2% (best at time!) account with Anglo. 

(I "_think" _it was something to do with the Anglo sort code being a BOI one, but not sure on this bit. ) 

I am wondering because I have registered the new a/c with 365online but will take couple of days  to get the activation code and I would like to make a lodgement this month. 

Does anybody know is the account open from the date of the letter or from date of first payment? I ask because if I don't make a lodgement this month am wondering do I only get 11 months lodgements into the a/c. 

Thank.  Hope this makes sense.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

I would imagine from the date of the letter. But just call them and ask or register for www.angloconnect.com and check. If it's open now then I presume that _June _is your start month so if you miss it then you will only have 11 months.


----------



## tadpole

*Re: Anglo Irish launches new 8% Regular Savings Account*



bravo said:


> Hi all,
> Just after opening the 8% account. First time dealing with Anglo. Opted on the application form for electronic transfers. Sent the forms and verification documents on Monday, and this document arrived today called a "confirmation" like  a statement, no letter, nothing - it had an account number which didn't seem to match regular bank account no.s and no sorting code, no balance as I aimed to make the first lodgement electronically.


First time dealing with Anglo-Irish as well. Sent the application form along with all requested papers last Tuesday, got a letter with the account number and sort code exactly one week later. The letter is actually dated last Friday, so it was delayed by AnPost rather than the bank. Has already made the first payment from a Halifax current account.

A bit of inconvenience is to register with AngloConnect separately although they have already asked all the same security  questions on the account opening form.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



tadpole said:


> A bit of inconvenience is to register with AngloConnect separately although they have already asked all the same security  questions on the account opening form.


There's no great benefit to registering with _AngloConnect _to be honest - especially if you are already getting electronic (email) or printed statements each month anyway.


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*

Am already an anglo customer so have the anglo connect but because get regular statements etc rarely log in so will have to go home and try route out pin. 

I will try get to Bank of Ireland before closing and see can I make a lodgement.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Maybe you can still make the initial account opening lodgement by cheque if necessary? I presume the rush here is that you are expecting the electronic transfer to take up to 5 working days or whatever? Or maybe there being a delay on setting up the _EFT _payee (is it _BoI _who insist on posting out a PIN before you can finalise this?)?


----------



## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*

a bit off topic but does anyone else think its a bit wasteful of anglo to sent a posted statement anytime a lodgement is made to your regular saver? I get one monthly confirming my lodgement


----------



## messyleo

*Re: Anglo Irish launches new 8% Regular Savings Account*

You can change your preference to email communication.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Yes - and they ask you on the application form if you want paper or electronic/email statements!


----------



## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Yes - and they ask you on the application form if you want paper or electronic/email statements!


 
didn't know that! the term of my 7% account is just about up, when i apply for the 8% account I'll change my preference!


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Maybe you can still make the initial account opening lodgement by cheque if necessary? I presume the rush here is that you are expecting the electronic transfer to take up to 5 working days or whatever? Or maybe there being a delay on setting up the _EFT _payee (is it _BoI _who insist on posting out a PIN before you can finalise this?)?


 
ya its B of I so waiting for pin etc so may not be set up b4 July.
Rang the ever helpfull Anglo and theY confirmed that no problem making a lodgement through Bank of Ireland. Any probs ring back etc. Just love their customer service.


*EDIT -*Just in Bank of I, u can't do lodgements to anglo anymore unless u have a pre printed lodgement slip, their lodgement slips auto go to B of I accounts, suppose has change since last time I did it. 
Anybody know how long it usually takes to get the activation code from Bank of Ireland?


----------



## Sams

*Re: Anglo Irish launches new 8% Regular Savings Account*

I was just down in BOI and did a manual transfer to my Anglo a/c no problem (and I didn't have any Anglo lodgement docket). Activation code had taken so long from BOI that I missed the standing order payment date for this month


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*



Sams said:


> I was just down in BOI and did a manual transfer to my Anglo a/c no problem (and I didn't have any Anglo lodgement docket). Activation code had taken so long from BOI that I missed the standing order payment date for this month


 

Sams could u give me more details re what u had to do for a manual transfer? Thanks


----------



## Sams

*Re: Anglo Irish launches new 8% Regular Savings Account*



pator said:


> Sams could u give me more details re what u had to do for a manual transfer? Thanks


 
Pator, I just provided details of the a/c to credit (I had the activation code letter which arrived yesterday, but was already past the date of the standing order). BOI Customer Services wrote up an electronic transfer request (not one of your standard dockets) and I signed - that was it. It will take a couple of days to transfer, but should hit the a/c this month (or so I'm told........)


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Of course not. Only the first €1K is on deposit for 12 months, the next for 11, the next for 10 etc. If the nominal compounding rate equivalent to the _CAR _or 8% is x then the formula is
> 
> €1K @ x% + €1K @ 11/12 * x% + €1K @ 10/12 * x% etc.
> 
> But the calculator is easier to use.


 

Bit tired and jet laged so am prob missing something big but just can't spot it. 
Using the formula above in month 6 the interest rate would be 6/12*8% = 4% 
so surely it wouldn't make sense to drip feed from say NR where the money is already getting 5%?

*SORRY - *In months 7, 8, 9 - 12 the money is also earning a portion of 8% which will add to greater than the 5% mentioned above. Sorry. More coffee. But does mindeoriginal concern kick in around month 10 where the effective rate for the last 3 months is less than 5%?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



pator said:


> Using the formula above in month 6 the interest rate would be 6/12*8% = 4%


You have to compare like with like. €1K in month 6 in this account earns 4% over the remaining 6 months of the 1 year term.  €1K *over 6 months in a 5% lump sum account *earns 2.5%. You are better off with the regular saver. Or rather drip feeding the 8% regular saver from a 5% lump sum account.


----------



## pator

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks for Clubman, makes alot of sense. Knew I was missing something key.  Appreciated.


----------



## skrooge

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> You have to compare like with like. €1K in month 6 in this account earns 4% over the remaining 6 months of the 1 year term. €1K *over 6 months in a 5% lump sum account *earns 2.5%. You are better off with the regular saver. Or rather drip feeding the 8% regular saver from a 5% lump sum account.


 
haha Clubman I'd like penny for everytime someone asks this question..be a very rich man


----------



## 60watt

*Re: Anglo Irish launches new 8% Regular Savings Account*

How would I make a withdrawal after 6 months or at the end of the term without going into a branch ? (there is no branch near me)

Is this account covered by the deposit protection scheme ? Its not mentioned in the T&C


----------



## eileen alana

*Re: Anglo Irish launches new 8% Regular Savings Account*



60watt said:


> How would I make a withdrawal after 6 months or at the end of the term without going into a branch ? (there is no branch near me)
> 
> Is this account covered by the deposit protection scheme ? Its not mentioned in the T&C


 
Yes it is but after reading this I am a bit wary of investing too much with them.


----------



## Black Sheep

*Re: Anglo Irish launches new 8% Regular Savings Account*

Have you seen the pop-up message on the Anglo website Regular Saver which says "Closing date 27th June". Is this the last date for opening the 8% Account


----------



## gebbel

*Re: Anglo Irish launches new 8% Regular Savings Account*

Jeez I hope that's not true! Still waiting for BOI online activation code!


----------



## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*



Black Sheep said:


> Have you seen the pop-up message on the Anglo website Regular Saver which says "Closing date 27th June". Is this the last date for opening the 8% Account


 
Is that not for the secure capital plus account?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Correct. But it's confusing the way the site displays that panel!


----------



## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*

Agreed, it could be far clearer


----------



## Black Sheep

*Re: Anglo Irish launches new 8% Regular Savings Account*

Is Anglo Irish the only bank that does *not* request a PPS no.when opening an account. I thought this is the norm under the money laundering Act


----------



## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*



Black Sheep said:


> Is Anglo Irish the only bank that does *not* request a PPS no.when opening an account. I thought this is the norm under the money laundering Act


 
I wasn't asked for pps verification with First active and National Irish


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Maybe the [broken link removed] mean that opening accounts from now on may require a _PPSN_?


----------



## gebbel

*Re: Anglo Irish launches new 8% Regular Savings Account*

Received BOI standing order activation code today. It was a couple of days later than I expected, so could only set it up so that the 1st debit happens on the 1st of August. Will they accept a manual transfer for the month of July, even though less than 1 month will elapse before the 1st SO?


----------



## 60watt

*Re: Anglo Irish launches new 8% Regular Savings Account*

Sorry to bring this up again. The website says "Unlimited withdrawals are allowed after the 6 month anniversary". 
How would I make withdrawals considering there is no branch near me and this is not an online account?


----------



## dandy

*Re: Anglo Irish launches new 8% Regular Savings Account*

gebbel
               How long were you waiting for the activation code ? I have been waiting 2 weeks now for BOI to send it out!


----------



## gebbel

*Re: Anglo Irish launches new 8% Regular Savings Account*



dandy said:


> gebbel
> How long were you waiting for the activation code ? I have been waiting 2 weeks now for BOI to send it out!


 
I was waiting 5 working days. You should contact them to verify that your instruction went through. 2 weeks is too long to be waiting. There must be an issue.


----------



## Marantze

*Re: Anglo Irish launches new 8% Regular Savings Account*



gebbel said:


> I was waiting 5 working days. You should contact them to verify that your instruction went through. 2 weeks is too long to be waiting. There must be an issue.



Requested my verification Number last Friday, received it today Tuesday.


----------



## PatK

*Re: Anglo Irish launches new 8% Regular Savings Account*



60watt said:


> Sorry to bring this up again. The website says "Unlimited withdrawals are allowed after the 6 month anniversary".
> How would I make withdrawals considering there is no branch near me and this is not an online account?


You just ring Anglo Irish, confirm a few security questions and then transfer whatever amount of money you want to your nominated account. I have never been put on hold and find their customer service to be excellent, so you shouldn't encounter any problems.


----------



## Jethro Tull

*Re: Anglo Irish launches new 8% Regular Savings Account*



PatK said:


> You just ring Anglo Irish, confirm a few security questions and then transfer whatever amount of money you want to your nominated account. I have never been put on hold and find their customer service to be excellent, so you shouldn't encounter any problems.


 
Agreed. never had to deal with them over withdrawals (but will when my 7% matures next month) but overall they are very efficient and easy to deal with over the phone and by e-mail


----------



## mushypea

*Re: Anglo Irish launches new 8% Regular Savings Account*



eileen alana said:


> Yes it is but after reading this I am a bit wary of investing too much with them.


 dont believe everything you read !!! 
If you are an avid reader of the indo - you'll see that Shane Ross regularly slags Anglo off !
Check their financial results if your in doubt. I bank with them and can only say good things about them


----------



## Crunchie

*Re: Anglo Irish launches new 8% Regular Savings Account*

It looks like the interest rate on the original 2 year product has dropped to 4.5% from today. New rates are published on p7 of today's Irish Times


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Are you sure that the _IT _isn't simply wrong? I just logged into my  account and my _Regular Saver Issue 1 _account is still paying 7% according to the system.


----------



## Crunchie

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Are you sure that the _IT _isn't simply wrong? I just logged into my  account and my _Regular Saver Issue 1 _account is still paying 7% according to the system.



This is an advert taken out by Anglo Irish headed "Personal Savings Interest Rates effective from 7th July 2008".

It refers to 4 different accounts and the 2 Year Regular Saver Account is shown as 4.50% Gross/AER Variable.

Maybe I'm mistaken in my interpretation but if it's an error it's down to Anglo Irish


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks. I've also emailed them to confirm. If it is true then time to stop those erstwhile 7% regular saver account lodgements from now until maturity!


----------



## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

Or even close the account and move the lump sum elsewhere?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Of course. Just can't remember what the terms & conditions are and what, if any, penalties might apply to closing/withdrawing as opposed to just stopping contributions.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Bummer - you are correct _Crunchie_!  Just got this very prompt reply back from _Anglo_:


> Dear ...,
> 
> Many thanks for your  e-mail.
> 
> It is still at 7% but  as of tomorrow it will be at 4.5%.
> 
> The new regular saver  will remain at 8%
> 
> Kind  regards
> 
> ...


Now to find those _T&Cs_...


----------



## MugsGame

*Re: Anglo Irish launches new 8% Regular Savings Account*

No penalties for early closure.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

I've flagged this rate drop in a new thread in case people miss it here.

Anglo Irish Bank Regular Saver Issue 1 - rate drop from 7% to 4.5% from 8th July 08


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



MugsGame said:


> No penalties for early closure.


Great - thanks.


----------



## Coolaboy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Like you guys I have been investing at the 7% rate with Anglo. NOW where is the best account to transfer the money into and earn a better rate?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

See the _Financial Best Buys_ forum and www.itsyourmoney.ie lists of the best rates on offer. If you don't already have an 8% _Anglo _regular saver then perhaps you should open one for ongoing monthly savings? Read the terms & conditions of all such accounts to ensure that they are compatible with your specific needs.


----------



## Coolaboy

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks Club man. How long will the 8% last ?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



Coolaboy said:


> Thanks Club man. How long will the 8% last ?


No idea.


----------



## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

Today at work people were on about Sean Quinn loosing €1billion in shares in Anglo and that the bank was in serious trouble. I opened an 8% savings account and the SO begins on the 1st of August. 

Is there a chance I could loose what I save with Anglo if the bank does go bust?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*


----------



## declanh

*Re: Anglo Irish launches new 8% Regular Savings Account*

Anyone mention that Sean Quinn declared earlier in the week, that he owned 15% of Anglo, and that he was in it for the long term - and in the article that I read on-line, it mentioned that he did not have to declare his interest, but that he did so for clarity.
A Sunday Times article the other week put it that he may have paid €1Bn for his shares, and that they may be worth €500m. So, I don't think that he has lost €1Bn, but he's unlikely to come out and say it publicly.
It sounded like he was backing the bank to the hilt.
( ClubMan's link is a good one for reference all the same)


----------



## Macattack

*Re: Anglo Irish launches new 8% Regular Savings Account*

i rang them and ask, they said if you withdraw in the first 6 month the account automatically closes


----------



## Macattack

*Re: Anglo Irish launches new 8% Regular Savings Account*



John J said:


> "Unlimited withdrawals after 6 months". What are the restrictions for the first 6 months I wonder?


 
it would cause the account to close, youd still be given all of your interest though.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



Macattack said:


> i rang them and ask, they said if you withdraw in the first 6 month the account automatically closes





Macattack said:


> it would cause the account to close, youd still be given all of your interest though.


Yes:

[broken link removed]



> *4 Withdrawals
> 
> *4.1 If you need to make a withdrawal in the first 6 months of opening the account, your account will be closed and the balance
> inclusive of accrued interest will be transferred to an Easy Access Account. Unlimited withdrawals are allowed after the 6
> month anniversary of account opening.


----------



## Kingdomkerry

*Re: Anglo Irish launches new 8% Regular Savings Account*

Anyone else thinking of pulling out of this one. If you save 1,000 a month and at the end of 12 months you have 13,000 saved Instead of getting the 13,000+interest you might only get 11,700 (90%) if rumors about the banks difficulities are to be believed.


----------



## declanh

*Re: Anglo Irish launches new 8% Regular Savings Account*

Seems like you are the only one perpetuating the rumours - back page of the Irish Times business section today (Fri 18th July) deals with Sean Quinn's investments - which was your original concern.


----------



## GON10

*Re: Anglo Irish launches new 8% Regular Savings Account*

Trying to decide on whether to drip feed €2000 per month into this account from a first active esavings account - what would the difference in interest earnings be and is it worth the hassle considering the volatile situation this bank is in at the moment any opinions would be appreciated.


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



GON10 said:


> Trying to decide on whether to drip feed €2000 per month into this account from a first active esavings account - what would the difference in interest earnings be


Work it out - e.g. the regular saver interest here and the reducing lump sum interest elsewhere. Obviously drip feeding an 8% regular saver account from a c. 5% lump sum account will yield higher interest returns than just leaving the money in the 5% lump sum account otherwise.


> and is it worth the hassle considering the volatile situation this bank is in at the moment any opinions would be appreciated.


Yawn. How many times will this thing about alleged risk/volatility and _Anglo _keep cropping up? Read the key posts on deposit protection schemes etc.


----------



## irishpancake

*Re: Anglo Irish launches new 8% Regular Savings Account*

Got round to opening one of these accounts at last. 

I must say process with Anglo is very easy. 

Sent cheque with app form, and got an e-mail statement 2 days later 

I am setting up a Standing Order from my Halifax account, and I was going to use the IBAN info shown on my Anglo statement, as I have not yet received my account details by post.

The IBAN should contain all the necessary info, account number and sort code, or so I thought.

Example Anglo IBAN:  IE34 ANGO 9902 20XX XXXXXX

The 99-02-20 is the Sort code, but the XXXXXXXX is *not* your bank account number.

I rang customer service to confirm details, again the process is very efficient, and was told not to use the account number contained within the IBAN, but a different 8-digit code which I was given.

So just be careful when setting up a payment from your Current Account, check with Anglo what your Account Number is, don't use the number given in the IBAN shown in e-mail statements.


----------



## GON10

*Re: Anglo Irish launches new 8% Regular Savings Account*

Just opened this account sent 1st deposit electronically online from my bank, should hit anglo account 28 July. Is it then possible to make another payment on the 1st August and gain some extra days interest ?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Yes. You can deposit up to €1K in any calendar month in as many or few transactions as you choose. If you exceed the limit then I think they just move the excess to another account but check in case it would cause the account to be closed.


----------



## GON10

*Re: Anglo Irish launches new 8% Regular Savings Account*

Ok Thanks yes according to terms and conditions if you put in too much in one month it goes automatically into a anglo current account


----------



## mayoman2

*Re: Anglo Irish launches new 8% Regular Savings Account*

2k if it is a joint account


----------



## I{U}Ireland

*Re: Anglo Irish launches new 8% Regular Savings Account*

I sent the first deposit on 9th of july, should I wait until 9th of August to send the next one or can I send in on 1st of august?


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

Any time you like.


----------



## Raul

*Re: Anglo Irish launches new 8% Regular Savings Account*



ClubMan said:


> Yes. You can deposit up to €1K in any calendar month in as many or few transactions as you choose. If you exceed the limit then I think they just move the excess to another account but check in case it would cause the account to be closed.


 
Clubman, I asked the Anglo rep this very question as I wanted to test the water with a €1 transfer but was told it was only one transfer per month so I needed to send the full €1000.

I haven't read the documentation around this and I am only quoting the Anglo rep and she could be wrong


----------



## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*

I was told (in relation to the _RSA Issue 1_) that any number of lodgements was OK once the limit was not breached. I never tested this in practice though. From my email:


> Payments into the Regular Saver  account don’t have to come as a standing order.  Standing orders are just a  convenient facility so that you don’t have to remember to send the funds each  month, but you can send them in yourself whenever you like.  You could send  weekly payments if you wish, as long as they don’t exceed €1,000 per month.


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## TSThomas

*Re: Anglo Irish launches new 8% Regular Savings Account*

See the FAQ too;

[broken link removed]



You choose the commencement date, which can be any day between the 1st and the 28th of any calendar month.
Monthly savings contributions can be made for up to a maximum of €1000 per applicant per month.


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## Garfield

*Re: Anglo Irish launches new 8% Regular Savings Account*

I'm coming in a little late on this thread I realise. If we transfer the lump sum from our regular savings account (originally 7%) into the new premium demand account (5.35%), can we use this account to drop-feed the new Reg Savers 8% account? Additionally what happens after the 6 months have come to an end in the premium demand account - a reduced rate of interest?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



tkd_demon said:


> I'm coming in a little late on this thread I realise. If we transfer the lump sum from our regular savings account (originally 7%) into the new premium demand account (5.35%), can we use this account to drop-feed the new Reg Savers 8% account?


I don't think that you can do it directly since _Anglo _don't seem to facilitate standing orders or electronic funds transfers from the _Premium Demand _account. You would presumably have to transfer money from the _Premium Demand _account to a regular current account and from there to the Regular Saver account.


> Additionally what happens after the 6 months have come to an end in the premium demand account - a reduced rate of interest?


Nobody knows yet.


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## cork

*Re: Anglo Irish launches new 8% Regular Savings Account*



tkd_demon said:


> If we transfer the lump sum from our regular savings account (originally 7%) into the new premium demand account (5.35%)


 
I'll probably do this as well.

Are there any negative consequences with regards interesr on the old 7% accounts?


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## ClubMan

*Re: Anglo Irish launches new 8% Regular Savings Account*



cork said:


> Are there any negative consequences with regards interesr on the old 7% accounts?


If you mean loss of interest then no - there is no penalty for closing the account and transferring funds.


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## Garfield

*Re: Anglo Irish launches new 8% Regular Savings Account*

Cheers Clubman, I also mailed Anglo my enquiries and got the following reply. 

"You will be unable to set up the Premium Demand Account as a feeder account for the Regular Annual Saver Account as the Terms and Conditions of the Regular Saver state the funds must be sent electronically from another financial institution"

"The interest rate is currently at 5.3% Gross for balances up to €20,000 – this is a variable rate but is guaranteed to at least match the ECB plus 0.5%. Should the balance go above €20,000 the interest rate decreases to 4.5% Gross for the entire balance of the account – this rate is also variable and is guaranteed to at least match the ECB"


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## cpt_boom

*Re: Anglo Irish launches new 8% Regular Savings Account*

It's to see this rate lasting much longer - Anglo have cut a lot of their rates since nationalisation and it's much higher than the rest of the market. 

Can you change your monthly deposit & what's the minimum? 

If so it might be worth opening an account. If they lower rates you could lower the monthly amount and then withdraw after 6 months. Any thoughts?


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## OPTIMUM

*Re: Anglo Irish launches new 8% Regular Savings Account*

"Anglo have cut a lot of their rates since nationalisation " ?? They announced fixed term cuts before nationalisation...and after ECB rate cut, as have many banks who havent been nationalised...with money market rates down in the 2%'s, their ECB +2% guarantee may be the best you get. The honeymoon is over on all these accounts.BOI at 7% looks lofty also, so methinks these products will be withdrawn during the year.


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## Darando

*Re: Anglo Irish launches new 8% Regular Savings Account*

Reg. Savers rate being cut from 8.00% to 7.30%.

Also, their demand rate from 5.50% to 4.75%.

http://www.independent.ie/business/...es--on-range-of-savings-accounts-1615594.html


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## Guest128

*Re: Anglo Irish launches new 8% Regular Savings Account*



Darando said:


> Reg. Savers rate being cut from 8.00% to 7.35%.



Good spot! Had to happen at some stage I guess. I assume you get whatever interest accrued already at 8% and from today on its 7.3% yeah?


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## askU

*Re: Anglo Irish launches new 8% Regular Savings Account*

Its still a good rate at 7.35%.


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## ardmacha

*Re: Anglo Irish launches new 8% Regular Savings Account*



> Its still a good rate at 7.35%.



Indeed. Who else is offering 7%+? The BOI reg saver is more limited in the amount you can contribute and the max balance.


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## Lightning

*Re: Anglo Irish launches new 8% Regular Savings Account*



Darando said:


> Reg. Savers rate being cut from 8.00% to 7.30%.
> 
> Also, their demand rate from 5.50% to 4.75%.
> 
> http://www.independent.ie/business/...es--on-range-of-savings-accounts-1615594.html



Very Interesting. 

Looks like Northern Rock have once again the market leading on demand rate.


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## limerick123

*Re: Anglo Irish launches new 8% Regular Savings Account*

are anglo still payin 8% for regular saver? how is this when ECB rate is 2% and falling. i presume they could drop it to 4% when ever they want (ECB plus 2%)

any opinions?


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## GON10

*Re: Anglo Irish launches new 8% Regular Savings Account*

Is this rate cut on new accounts or existing regular saver accounts as mine still shows 8% when logged into anglo connect


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## oldtimer

*Re: Anglo Irish launches new 8% Regular Savings Account*

You obviously haven't read the previous posts on this thread - if you had your question was answered.


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## limerick123

*Re: Anglo Irish launches new 8% Regular Savings Account*

who are you talking to old timer


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## baldyman27

*Re: Anglo Irish launches new 8% Regular Savings Account*



limerick123 said:


> who are you talking to old timer


 
Probably you, having read the thread.


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## Oracle

*Re: Anglo Irish launches new 8% Regular Savings Account*



fungus said:


> Very Interesting. Looks like Northern Rock have once again the market leading on demand rate.



Yes, but for how more longer will they be offering this rate? I'd say it's likely NR will drop that rate within weeks.


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## kennyb3

*Re: Anglo Irish launches new 8% Regular Savings Account*

i ve gone through the thread and cant find why the 7.3% is correct is it not 2% + ECB (i.e 2.5%). could someone please explain to me or tell me what posting number this is explained in

Thanks in advance


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## Taxi Driver

*Re: Anglo Irish launches new 8% Regular Savings Account*

I'm not sure what your question is.  The minimum rate on the account will be ECB + 2.0% which at present is 1.5% + 2.0% = 3.5%.  However this is only the minimum rate.  The actual rate may be higher than this.


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## kennyb3

*Re: Anglo Irish launches new 8% Regular Savings Account*

Thanks. sorry thought ECB was only 0.5%. and i get it now. it can be as low as 3.5% but actually is 7.3% or people would close their accounts


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## RMCF

*Re: Anglo Irish launches new 8% Regular Savings Account*

This thread is misleading.

I saw it and thought there was a great new deal out there, but then see that it was first started nearly a year ago.


----------



## queenlex

*Re: Anglo Irish launches new 8% Regular Savings Account*



askU said:


> Its still a good rate at 7.35%.


 
I agree and also some German guy connected with the ECB (cant remember his name or role) suggested very recently that rates were at their bottom..almost so all or some of these rates will surely rise up over the next few months makign it a good time to save IMO.


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## ardmacha

*Re: Anglo Irish launches new 8% Regular Savings Account*



> almost so all or some of these rates will surely rise up over the next few months



Retail deposit rates are not going to rise. Now you have rates ECB+4%, this is not going to last. You will get ECBish rates, whether the ECB is 1% or 1.5% does not make a whole lot of difference. Of course inflation will probably be -3%, so this is as high a real rate as savers have ever achieved.


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## queenlex

*Re: Anglo Irish launches new 8% Regular Savings Account*



ardmacha said:


> Retail deposit rates are not going to rise. Now you have rates ECB+4%, this is not going to last. You will get ECBish rates, whether the ECB is 1% or 1.5% does not make a whole lot of difference. Of course inflation will probably be -3%, so this is as high a real rate as savers have ever achieved.


 
Good point at the end there, yeah I agree the ECB plus 4 wont last but as you say seeing as there will be no inflation for the near future by the looks of it even very low saving rates will mean savings a/cs will be worth sticking money in for the near and maybe not so near future.


----------



## Potter on

*Re: Anglo Irish launches new 8% Regular Savings Account*

Hi,

I just opened this a/c last week.  I had to give password for online banking on application form.  I got a letter confirming opening of a/c, but have nothing in relation to online banking.  Does anyone know how anglo irish online banking works?

thanks.


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## MONAGHANSG

*Re: Anglo Irish launches new 8% Regular Savings Account*

You should receive a letter with your Angloconnect registration details, containing your user ID. You can then log in using this ID along with the password you gave, and you'll have to answer a security question every time. The site lets you check your balance, accrued interest and transaction history, but you cannot make any online transactions.


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## Guest128

*Re: Anglo Irish launches new 8% Regular Savings Account*



Potter on said:


> Hi,
> 
> I just opened this a/c last week.  I had to give password for online banking on application form.  I got a letter confirming opening of a/c, but have nothing in relation to online banking.  Does anyone know how anglo irish online banking works?
> 
> thanks.



Did you actually ask them to set up the AngloConnect for you? I know its on the form but.......


----------



## Potter on

*Re: Anglo Irish launches new 8% Regular Savings Account*

Hi Monaghansg,

I thought they were going to set up angloconnect automatically once they received my a/c applications. Nothing is mentioned about a seperate form.  Looks like I have to just fill in another form and send it away..

thanks.


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## Potter on

*Re: Anglo Irish launches new 8% Regular Savings Account*



FLANDERS` said:


> Did you actually ask them to set up the AngloConnect for you? I know its on the form but.......


 
no. wasn't aware that I had to ask them.  just browsed their website, I have to fill in another form.  strange, they never mentioned anything about it on a/c opening letter I received.


----------



## Roxelle

*Re: Anglo Irish launches new 8% Regular Savings Account*

....And no word from Savings Advisor in Anglo either...Spoke with two people when I eventually got throught 25 mins later and conflicting info...no min. lodgements required on website yet was told there was a €100 euro min per month .. I told them to contact me when they had made up their minds!!!


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## Darando

*Re: Anglo Irish launches new 8% Regular Savings Account*



Roxelle said:


> ....And no word from Savings Advisor in Anglo either...Spoke with two people when I eventually got throught 25 mins later and conflicting info...no min. lodgements required on website yet was told there was a €100 euro min per month .. I told them to contact me when they had made up their minds!!!




Are you talking about the now 7.3% Reg savers?

If so there is no min monthly contribution- see the website:

[broken link removed]

If I recall you can even miss monthly payments.


----------



## The Gooner

*Re: Anglo Irish launches new 8% Regular Savings Account - not any more !*

I applied to set up a new Anglo Regular Savings 7.3% account 4 weeks ago. I received confirmation that the account was opened by Anglo April 17th that the rate was 7.3%. I received a letter yesterday stating the rate was now changed to 4.9% ? I know they only guarantee ECB + 2%, but not happy, considering I called them before opening the account to get the lie of  the land ref the rate, got positive feedback from them, went through the hassle of  opening the account, to end up with 4.9% a couple of weeks after opening it. So looks liek the days of the 8% / 7.3% are gone.........


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## Guest128

*Re: Anglo Irish launches new 8% Regular Savings Account*

Really? Are you sure you opened the currect account? There are two Anglo regular savers (from Best Buys thread):

Best headline rate, but can only save for a year
*[broken link removed]* (Discuss)
*6.50%*
Regular lodgements (electronic transfer or standing order): Maximum €1,000 a month. Minimum rate guaranteee of ECB+2%. No penalty for occasional missed contributions. Effective Maximum Balance €13,000, as account lasts for one year -- withdrawals in first 6 months may incur a penalty.

Best rate if you want to save for a few years
*First Active: Regular Saver* (Discuss)
_*4.90%* (4.75% according to itsyourmoney.ie) _
Regular lodgements required (standing order only): Minimum €1 a month; Maximum €1000. Interest paid on first working day of each quarter. Maximum balance €100,000. Online access to account. Optional ATM card.


The 1 year regular saver is still advertisted [broken link removed] as 6.50%


----------



## The Gooner

*Re: Anglo Irish launches new 8% Regular Savings Account - now 6.5%*

Just called them. Yes - its 6.5% alright. They sent my wife and I two notifications of the change of rate onthe regular savings account "in error". Leeter to follow from them confirming this - but was told onthe phone the rate is indeed 6.5%.........


----------



## midouri

*Re: Anglo Irish launches new 8% Regular Savings Account*



askU said:


> The Financial Regulator yesterday (June 4th 2008) published its first ever regular savings account comparisons on its personal finance website (www.itsyourmoney.ie). The comparisons highlight various regular savings accounts, which show that interest rates on regular savings accounts vary from just over 3% to over 7%. ALBK offers a rate of 7.3% but with a maximum lodgement of €300/month. BKIR offers 7% with a maximum of €500/mth. IPM's 21-day notice account offers 5.75% at a maximum of 1000/month. Yesterday also saw ANGL announce a new regular saver product that pays 8% for a one-year term but with unlimited withdrawals allowed after six months.
> These competitive rates highlight the demand on the part of banks for customer deposits as wholesale rates remain high (Euribor 3mth 4.864%) and they seek to grow their loan books more in line with deposits. ANGL has the lowest loan/deposit ratio of 127%, with IPM the highest at 288%. BKIR and ALBK both have a ratio of 157%



Am really ticked off with Financial Regulator ...if you look at their site you will see that it has not been updated in months. All the comparisons are wrong. I rang them approx. 1 month ago and it still hasn't been updated. From now on, i will just ring the banks directly to find out their rates!! It's disgracefully. I would rather no info than misinformation!!


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## Gautama

My Anglo Irish Annual Regular Savings Account matures next month. Is there anything to prevent me opening a new one?


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## BRICKTOP

No. I have done this too.


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## Lightning

Gautama said:


> My Anglo Irish Annual Regular Savings Account matures next month. Is there anything to prevent me opening a new one?



Make sure you get a good rate for your 12k/13k that has matured. 

As the previous poster stated, you can start another 12 months with a new account.


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## Gautama

fungus said:


> make sure you get a good rate for your 12k/13k that has matured.
> 
> As the previous poster stated, you can start another 12 months with a new account.



5%

If I open a new account, and close it in September 2010 (ie after about 10 months) will I still get the full rate or will I be penalised?


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## Lightning

Anglo have penalties if you withdraw inside the first 6 months. Not beyond. 

The rate may not stay the same for the next 12 months.


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## fobster

Just opned a reg saver, it says maturity date is 5/11/09. I've set up a SO to transfer the money on the 11th each so 12 max amounts in total but I was wondering is an opening lodgement possible? I read that at the end an effective bal of €13k so obviously an extra €1k lodged, how can I make this when the account is already open?

Thanks


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