# Bank of Ireland offer



## PATMAC (23 Jun 2009)

My wife has a meeting today with the BOI they are offering:10% after 3 and half years if we deposit a lump sum of up to €24k, that we have in another account with them which is earning a poor return. No access to money or we forfeit the 10%, which is a drawback. Deal or no deal anyone? Deadline is tomorrow.


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## Guest116 (23 Jun 2009)

Is that 2.85% per year? You will get better than that e.g. 3% with NIB for up to 50,000 and you can withdraw money anytime you want (but you get less interest for that month if you withdraw).

No deal!


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## DrMoriarty (23 Jun 2009)

That "deal" doesn't even make it into the best buys list. 

If you can afford to tie up the money for three years, the best rate currently on offer is:
*An Post* Savings Certificates 17th issue
3 Years 3.23% (equivalent to *4.30%* because these are not subject to DIRT at 25%)

Or you could put €20K away with *Investec* 6 Months @*4.04%* ** Best 6 Month rate 
1 Year @*4.50%* ** Best 1 year rate
_(Apparently the deadline for this is next Thursday?)_
_..._and keep the balance in a demand account like *Anglo Irish Bank: Premium Demand* (currently paying 3.60%).


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## PATMAC (23 Jun 2009)

Thanks guys


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## Lightning (23 Jun 2009)

Some good advise above pointing you to the best rates.



PATMAC said:


> My wife has a meeting today with the BOI they are offering:10% after 3 and half years if we deposit a lump sum of up to €24k, that we have in another account with them which is earning a poor return. No access to money or we forfeit the 10%, which is a drawback. Deal or no deal anyone? Deadline is tomorrow.



More evidence awful treatment of customers by BOI again. They encourage you to lock your money away for 3 years at such a low rate and give you a deadline of tomorrow. Disgrace.


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## theresa1 (9 Jul 2009)

I use FREE banking with BOI and my salary goes in to BOI but then it's online banking and it's all transfered out. I get a sense of satisfaction from this every month.


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## Lightning (9 Jul 2009)

theresa1 said:


> I use FREE banking with BOI and my salary goes in to BOI but then it's online banking and it's all transfered out. I get a sense of satisfaction from this every month.



There is nothing unusual about free banking and BOI do not have the best current account offer. I suggest you check out the current account best buys here.


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## narkyhead (10 Jul 2009)

fungus i have a high interest account with a.i.b but do not do any internet banking and mostly use my card for match tickets that's about it. Is this loosing me interest or worse costing me fees? your advice most welcome


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## narkyhead (10 Jul 2009)

i see in today,s irish independent that b.o.i are offering 7%gross for 2 years and you can access 50% of the funds. minimum of 20,000e.


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## Godfather (10 Jul 2009)

7% gross = less than 3.5 per year... There is better in the market although this is much better than poor PATMAC was offered


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## Joanne1 (10 Jul 2009)

Narkyhead,

I too have a high interest current account with AIB.

To avoid maintenance and transaction fees, *each fee quarter *you need to:

   1. Use your AIB Debit Card to make a purchase, and

  2. Make a debit transaction using AIB Phone & Internet Banking e.g. pay a bill or top up your mobile


To earn interest you have to make a minimum lodgement of €1,500 each month to your account.


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## TSThomas (10 Jul 2009)

theresa1 said:


> I use FREE banking with BOI and my salary goes in to BOI but then it's online banking and it's all transfered out. I get a sense of satisfaction from this every month.



You'd get a better sense of satisfaction with Halifax; free & 7% interest on €1500


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## theresa1 (10 Jul 2009)

Yes if I was not already with BOI I would go with Halifax.


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## Guest128 (10 Jul 2009)

theresa1 said:


> Yes if I was not already with BOI I would go with Halifax.



You arent married to BOI are you?!! And even then you can leave them!


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## narkyhead (10 Jul 2009)

thanks joanne1 I did also top up my mobile and got an xtra 5e too. Just because it's friday....thank crunchie for that


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## pfaulkner (10 Jul 2009)

Is BOI the worst out there.


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## theresa1 (10 Jul 2009)

FLANDERS` said:


> You arent married to BOI are you?!! And even then you can leave them!


 

- I wish I was - could you imagine the divorce settlement.


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## theresa1 (10 Jul 2009)

pfaulkner said:


> Is BOI the worst out there.


 


- I would not say the worst but not the best either and certainly not the best for interest rates.


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## Lightning (10 Jul 2009)

narkyhead said:


> fungus i have a high interest account with a.i.b but do not do any internet banking and mostly use my card for match tickets that's about it. Is this loosing me interest or worse costing me fees? your advice most welcome



The "high interest account" with AIB earns a small 1% and only on the first 1,500 EUR. 

I suggest you look at the Halifax option (and the T&C's that come with it) if you want to maximise current account interest. 



> i see in today,s irish independent that b.o.i are offering 7%gross for 2 years and you can access 50% of the funds. minimum of 20,000e.



Interesting but not a market leader, Anglo offer 3.5% for the same product with no minimum. Strangely competitive for BOI. 



> - I would not say the worst but not the best either and certainly not the best for interest rates.



They are very close to "worst" in terms of giving customers a return on their money. For example, a lot of their on demand accounts pay a shocking 0.01%. 

Like AIB, they take advantage of consumer inertia through their vast branch network.


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## TSThomas (10 Jul 2009)

theresa1 said:


> Yes if I was not already with BOI I would go with Halifax.



Switching isn't overly awkward & you wouldn't have to worry about any of BOI's loopholes to jump through to get fee free banking & "high" interest either.


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## frankmac (20 Jul 2009)

Having just come through moving from BOI to Halifax I have to say that BOI were very uncooperative with the switching. So much so that I ended up having to redo all my direct debits myself.

Received my first monthly statement and its great to see a credit there for interest.


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## Lightning (20 Jul 2009)

Glad you are happy with Halifax, but are you aware of the reports that ?


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## Uncle Chenzo (22 Jul 2009)

Hi Fungus,

Do you think you should update the current account best buys of this development?  Maybe put a warning there or something?


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## Uncle Chenzo (22 Jul 2009)

OOOpps, ignore that one.  Warning is there


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