# KBC Launch 3.25% Instant Access Account



## Lightning (11 Mar 2012)

According to Emma Kennedy in the Sunday Business Post, KBC are launching a new instant access account.

Rate: 3.25%
Minimum: 3,000 EUR
Maximum: 100,000 EUR
Limited offer for aprox. 4 weeks starting on March 13th. 

Also, KBC are going to launch a regular saver product later this year. 

3.25% is the highest rate for an instant access account on the market. Leeds also pay 3.25% but with 90 days notice attached.


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## MysticX (11 Mar 2012)

Looks nice but KBC doesn't have online banking (yet)?
Otherwise looks set to compete with NationWide (UK), Rabo and remaining Northern Rock demand online accounts.


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## Lightning (11 Mar 2012)

MysticX said:


> Looks nice but KBC doesn't have online banking (yet)?



From the [broken link removed]:



> Does KBC have an Online Banking service?
> *Unfortunately no.*





MysticX said:


> Otherwise looks set to compete with NationWide (UK), Rabo and remaining Northern Rock demand online accounts.



Yeah, big competition for Nationwide UK Ireland and Leeds Building Society Ireland. To a lesser extent, the legacy PTSB NR accounts.


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## Renter7 (11 Mar 2012)

CiaranT said:


> From the [KBC website FAQ[/URL]:
> 
> 
> 
> ...



KBC is Irish bank, covered by Irish guarantee only. Given that Nationwide and Leeds are UK covered, are they still not more attractive?


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## Lightning (12 Mar 2012)

Renter7 said:


> KBC is Irish bank, covered by Irish guarantee only. Given that Nationwide and Leeds are UK covered, are they still not more attractive?



All depends on how one values rate of return versus the perceived value of respective deposit guarantees.


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## pator (12 Mar 2012)

For anyone that still has the account the old northern rock demand online (annual) is still paying 3.25% under permanent tsb.
No available any more but still there for those that had the account.  

(Will be interesting to see do they follow the anglo route where the rates stayed up near the top available for a long period but have now dropped back)


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## panindub (13 Mar 2012)

Just to let you all know, This new deposit account went live today on their website.
I've just finish applying for a new account.


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## Lightning (13 Mar 2012)

panindub said:


> Just to let you all know, This new deposit account went live today on their website.
> I've just finish applying for a new account.



Yeah, the full details have been added to the best buys earlier, as per the below. 



> KBC: Smart Access
> 3.25% on €3,000 to €100,000
> 2.55% on €100,000 to €1,500,000 on entire balance**
> 2.04% on €1,500,000.01+
> ...


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## frasr (14 Mar 2012)

Just looking at the rates on 
[broken link removed]
For €3,000 - €100,000 the rate is 3.25%

There is no mention of rates from 0 to €2,999 (on any account type).

So is no interested earned or 3.25% earned on the first €2,999 of any deposit?

I know the minimium balance is €3,000 but is it a case of
€2999 at 0% interest & any balance above that at 3.25%?

For example €10,000 on deposit
€2,999 @ 0% + €7,001 @ 3.25% meaning an 'actual' interest rate received on all saving of 2.28%

If so, the 'actual' interest rate received on all saving will increase relative to the amount over 3k you have on deposit, so say €100,000 on deposit would be:
€2,999 @ 0% + €97,001 @ 3.25% meaning an 'actual' interest rate received on all saving of 3.15%


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## PolkaDot (14 Mar 2012)

No internet banking would immediately rule it out for me. I couldn't live without internet banking!!

I'll stick with Nationwide UK Ireland.


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## Lightning (14 Mar 2012)

My understanding:

It is not possible to have an account balance below 3,000 EUR as 3,000 EUR is the minimum balance. 

A balance of 3,001 EUR would have a rate of 3.25% applied to the whole balance. 

I will contact KBC to confirm.


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## kev53 (14 Mar 2012)

frasr said:


> Just looking at the rates on
> [broken link removed]
> So is no interested earned ......on the first €2,999 of any deposit?



Can anyone confirm if this is true? My understanding was different, assumed it was 3.25% on all of deposit, but minimum of the deposit is 3,000 euro.

There is a savings calculator on their website, when you put in 3,000 as the deposit amount the interest earned is not zero, hence I believe the 3.25 applies to the first 3,000 also, but open to correction!


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## Lightning (14 Mar 2012)

> frasr said:
> 
> 
> > Just looking at the rates on
> ...



This is not true. 

If your balance is 4,000 EUR, you will earn 4,000 EUR on the whole balance. 

I phoned KBC to confirm.


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## aoc3048 (14 Mar 2012)

The Terms & Conditions for deposit accounts states the charge for 'Money desk and electronic transfers of monies' is €25.40.
Does this mean they will charge €25.40 for every lodgment and/or withdrawal?


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## Lightning (14 Mar 2012)

The T&C's state:



> We have the right to charge fees for services provided.



I don't think KBC exercise that right.


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## Annie51 (14 Mar 2012)

€25.40 to transfer or lodge money???  Are they crazy??


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## Renter7 (14 Mar 2012)

Annie51 said:


> €25.40 to transfer or lodge money???  Are they crazy??



Hi, where are you getting figures?


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## kev53 (15 Mar 2012)

Renter7 said:


> Hi, where are you getting figures?




It is in their terms and conditions:
[broken link removed]


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## Lightning (15 Mar 2012)

I would be very surprised if KBC even apply these changes.


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## Renter7 (15 Mar 2012)

CiaranT said:


> I would be very surprised if KBC even apply these changes.



Your probably right but it still would put me off.


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## Berni (16 Mar 2012)

gmt said:


> I recommend against using KBC bank since they do not follow their own pubished rules.


It would be helpful if you could give us more than a one line warning.
In what way did they not follow their rules? What was the effect for you?


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## bugler (16 Mar 2012)

gmt said:


> My other post was deleted. I recommend against using KBC bank since they do not follow their own pubished rules.



And this post will be deleted for the same reason. You need to elaborate.


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