# Anglo Premium Demand account clarification



## Fideroiste (9 Dec 2009)

A chara,
I opened my Premium demand at the end of March. When does Anglo pay out the money on this account? e.g. end of calendar year/ year ending date when account was originally opened?

Beannachtaí an tSéasúir,
Fi.


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## Appman (9 Dec 2009)

Interest credited to the account annually on last working day of December each year

[broken link removed]


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## Fideroiste (17 Dec 2009)

Hi Appman,
Sorry about the delay in replying to your response. Thank you for the information.
Does the regular saver account work the same way also?

N.D.,
Fi.


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## TSThomas (17 Dec 2009)

[broken link removed]

_Interest is calculated daily and added to your account on the account maturity.
On the final maturity date, the balance inclusive of accrued interest, will automatically be transferred to an Easy Access Account at the prevailing interest rate_.


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## pator (17 Dec 2009)

Fideroiste  if you drop them an email they will transfer from the regular saving into your existing premium demand rather than a new easy access (which has a lower rate of interest)


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## ardmacha (17 Dec 2009)

> Fideroiste if you drop them an email they will transfer from the regular saving into your existing premium demand rather than a new easy access (which has a lower rate of interest)



They won't in fact do this by email. I tried and they refused, citing "For security and fraud prevention reasons". This is largely nonsense, as your existing account is no less secure from fraud than a new account. But it suits the bank as money goes into lower interest bearing accounts. So you'll have to telephone or write.


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## pator (18 Dec 2009)

ardmacha said:


> They won't in fact do this by email. I tried and they refused, citing "For security and fraud prevention reasons". This is largely nonsense, as your existing account is no less secure from fraud than a new account. But it suits the bank as money goes into lower interest bearing accounts. So you'll have to telephone or write.


 

OK - This must be a change of policy. They had no problem doing it for me. (so rather than they "_won't_" there has either been a change of policy or they didn't for ardmacha, perhaps I should have made clear in my reply that they did it for me rather than perhaps suggesting it was an option)
But if they can do it over the phone much the same thing.  

The only thing I could think of is that some banks don't accept instructions from hotmail/yahoo accounts etc. I did it from a work account that I had communicated with them from on numerous previous occassions and the monthly statements from the regular saver had been emailed to that account. 

Just to clarify I had a pre-existing premium account when the regular saver matured.


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## Appman (23 Dec 2009)

Fideroiste said:


> Hi Appman,
> Sorry about the delay in replying to your response. Thank you for the information.
> Does the regular saver account work the same way also?
> 
> ...


 
I just called Anglo today on phone (ROI 1850 44 22 22) and asked that they move my Reg savings Acc on maturity to my existing Demand Acc. They said yes and made change there and then. It was setup as default for every Reg Acc to send money to easy access Acc. As TSThomas rightly said.


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## el diablo (5 Mar 2010)

Hi,   just wondering can you withdraw from this account at any time without losing any interest accrued on your account?  Rate is currently 3.1% (and ECB +0.5%).


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## pator (5 Mar 2010)

[broken link removed] 

Yip, withdraw any time you like, interest is credited annualy or when you close the account.

(just for clarity, the ecb +0.5 is just the minimum guarantee, the rate for less than €100k is 3.1%)


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## el diablo (5 Mar 2010)

pator said:


> [broken link removed]
> 
> Yip, withdraw any time you like, interest is credited annualy or when you close the account.
> 
> (just for clarity, the ecb +0.5 is just the minimum guarantee, the rate for less than €100k is 3.1%)



Ok thanks for that.  I see a few more banks are offering demand accounts with slightly better rates so I'm not sure yet which one I'll do.


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## pator (5 Mar 2010)

No bother, 

ya as you say there are "slightly" better rates out there, but only slightly,
just note the t&cs from the best buys like Irish Nationwide is max 20K and Nationwide uk can't have more than 6 withdrawls per annum (which in fairness is prob fine for most people) but does have a higher max and a rate 0.2% higher than Anglo.

Are these the two you were looking at? I was looking and decided to stay with Anglo as rate is close to the top rates on offer and suited my needs.


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## el diablo (7 Mar 2010)

pator said:


> No bother,
> 
> ya as you say there are &quot;slightly&quot; better rates out there, but only slightly,
> just note the t&cs from the best buys like Irish Nationwide is max 20K and Nationwide uk can't have more than 6 withdrawls per annum (which in fairness is prob fine for most people) but does have a higher max and a rate 0.2% higher than Anglo.
> ...



Yep, they were the ones I was looking at.   I had a fixed term account at Anglo which recently expired so I'll probably move my funds to the Premium Demand account.


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## theresa1 (16 Oct 2010)

I have over €100,000 @ 2.80%. If I withdraw and balance fall's below €100,000 will the remaining balance automatically go to 3.10% interest rate?


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## Lightning (16 Oct 2010)

Keep you balance at 100,000 EUR less projected interest to ensure you get the higher rate. i.e. about 97,800 EUR. 

From Anglo's website:



> Addition of interest may bring the balance over €100,000 resulting in a lower rate of 2.80% Gross/AER Variable applying to the entire amount



Alternatively, move the money to Nationwide UK and get paid 3.15% on the whole amount.


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## theresa1 (16 Oct 2010)

Thanks CiaranT - Anglo easy access reward account would be another option for 3.20% but only for first year and other condition's apply.


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## Redhouse (20 Oct 2010)

Hi Guys, some great info on these threads. If you are under the 100K threshold when does the deposit guarentee run out?


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## Lightning (20 Oct 2010)

Under 100,000 EUR? Never, there is no end date stated. 

The Irish state deposit guarantee for amounts under 100,000 EUR lasts beyond December 31st 2010.


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