# Halifax High Interest Current Account



## Joe Nonety (18 Apr 2007)

> *Customers who open a Halifax Current Account and put €1,500 into their account each month will receive 10%* credit interest on their balance up to €2,000!*
> Other great product features include:
> 
> Fee free banking on everyday transactions
> ...


 
Most noteable aspect for me is how they haven't mentioned how long the 10% rate will last.


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## DublinTexas (18 Apr 2007)

From their [broken link removed]:

Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month (see comparison table below). 

Also: The new Current Account product is a first for Halifax in Ireland and will be available to customers on 21st May.


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## KalEl (18 Apr 2007)

This is very impressive...provided you fulfill the not particularly onerous conditions they'll pay you €200 per annum in interest.
Fair play to them


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## happy_chick (18 Apr 2007)

Hi,

Im new to the forum - am sick of paying enormous fees to my current bank & getting nothing back. Why is it that banks reward new customers and not the old customers who have been with them for years??

Heard the ad for the new Halifax current account - went to their website to check it out but is it all empty promises?


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## Joe Nonety (18 Apr 2007)

Just wondering if anyone has any experience with their online banking?

Going by their branch map at [broken link removed] they've only one branch in most counties. I wonder if they've a lot more branches planned as this offer will surely make them very popular.


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## ClubMan (18 Apr 2007)

happy_chick said:


> Im new to the forum - am sick of paying enormous fees to my current bank


Whatever about getting current account interest why on earth are you paying charges at all in this day and age?! Just check out [broken link removed] for details of many current accounts that are free of most or all transaction charges.


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## happy_chick (18 Apr 2007)

According to their website [broken link removed] online banking will be launched when their current account is

Theyre a new bank, are they? I've seen there ads all over the place


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## ClubMan (18 Apr 2007)

They are relatively new to the _Irish _market but are a long standing player in the _UK_. If you want transaction free current account banking with interest on certain balances (subject to terms & conditions) then you don't have to wait. For example [broken link removed] already offer this. There may be other similar offers available right now.


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## KalEl (18 Apr 2007)

AIB also...11% for 3 months falling to 4% on balances of €1500. AER 5.81% I think! Free banking if you fulfill two pretty loose conditions (use a laser card once a quarter and pay a bill online once a quarter if I'm not mistaken?)


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## happy_chick (18 Apr 2007)

I think I get nabbed for using my laser card too much - was signed up for a graduate account with AIB but have been getting fees taken outta my account for the last year or so

Maybe I should ring them and tell them im going to switch to a Halifax current account and see what deal they'll give me!


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## ClubMan (18 Apr 2007)

Are you actually reading these posts? *You don't have to depend on Halifax since there are lots of transaction free current account banking offers out there some of which also pay interest on certain balances to which you can switch without any major hassle!
*


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## happy_chick (18 Apr 2007)

sorry - was only using them as an example


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## ClubMan (18 Apr 2007)

If transaction fees are bothering you - and there is no reason to pay them these days - then ask your existing bank if they have a transaction fee free option that they can switch you to. I had to do this with _PTSB _because I had a current account that predated their fee free one and I got hit with the odd charge from time to time until they suggested that I switch. If your bank does not have such a product then go to one of the other banks for transaction fee free banking (and current account interest if applicable and desired).


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## DublinTexas (18 Apr 2007)

I just hope that next to what they say on the webpage they will offer


Visa/Mastercard Debit Card linked to the account (rather than an outdated Laser system) so that you can pay worldwide with it
Online International Transfer (The clause about national transfer free might suggest that international might not be available online)
Free withdraw on Halifax/Bank of Scotland Cash Machines in the UK, when you are forced to use £  (obviously the currency conversion charge still applies)
One can dream.


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## happy_chick (18 Apr 2007)

so thes best thing to do is suss out if they have a transaction fee free option and if they dont just switch to one that does?


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## ClubMan (18 Apr 2007)

happy_chick said:


> so thes best thing to do is suss out if they have a transaction fee free option and if they dont just switch to one that does?


Isn't that precisely what I suggested above?!?


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## funnygirl (18 Apr 2007)

to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return


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## happy_chick (18 Apr 2007)

ClubMan said:


> Isn't that precisely what I suggested above?!?


 
sorry clubman - like i said, new to this and just double checking!!


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## jrewing (18 Apr 2007)

funnygirl said:


> to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return


 
 

You are not putting aside money every month - it's not a Regular Savings account. You are required to have a lodgement of > Eur 1500 per month. For the majority of people, they will have their salary paid into the account, thus fulfilling the requirement to receive the 10% interest. This money can then be transferred / spent as required during the month.


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## ClubMan (18 Apr 2007)

funnygirl said:


> to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to


I tend to agree and consider the new interest bearing current accounts grand as a bonus if you happen to meet the necessary terms & conditions but a bit of a gimmick otherwise. Good to see some new competition and product development in the market though. 


> i find prize bonds has a better overall return


 The "return" on _Prize Bonds_ is purely down to luck. Many people will earn nothing on them and their money will be eroded with inflation. No harm in buying a few to be in the draw but I certainly would not consider them a key part of an overall well diversified portfolio never mind a place to put a chunk of cash other than for a short period maybe.


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## funnygirl (18 Apr 2007)

in terms of prize bonds i put 12000 into it about 3 and half years ago and now i have just over 16000, so a return of 4000 is better than gimmicks with a bank, there is always a claws somewhere.


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## KalEl (18 Apr 2007)

funnygirl said:


> to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return


 
Prize Bonds are a relic from old gods time...the type of thing your Granny stuck money into!
My main current account is with AIB...I get free banking and 11% on €1500 for 3 months, then 4%. All I do is have my salary paid into this account, pay my bills online and use my laser card. I don't find any of these conditions onerous.
If you want to get your money working to the max you should avail of one of these current account offers.


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## ClubMan (18 Apr 2007)

funnygirl said:


> in terms of prize bonds i put 12000 into it about 3 and half years ago and now i have just over 16000, so a return of 4000 is better than gimmicks with a bank, there is always a claws somewhere.


You were very lucky to win €4K and earn the equivalent of c. 10% _CAR _by my calculation. Most people will not be so lucky and I don't think that it's prudent to recommend _Prize Bonds _as a medium to long term investment given the high chances of earning nothing at all. I have a few just to be in the draw but they would be a tiny percentage of my overall savings/investments.


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## funnygirl (18 Apr 2007)

well thats only my opinion, putting 1500 into it wont get you much but all my "numbers" are in the one lot, cause i bought them all the same time, which results in a higher return and any money i do get is put straight back in, just my luck, but its working for me


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## ClubMan (18 Apr 2007)

funnygirl said:


> well thats only my opinion, putting 1500 into it wont get you much


In most cases it will get you nothing while the real value of your capital is eroded by inflation.


> but all my "numbers" are in the one lot, cause i bought them all the same time, which results in a higher return


 This is totally fallacious. On what basis do you believe that having one block of numbers increases your returns or even your chances of winning?  


> and any money i do get is put straight back in, just my luck, but its working for me


 Lucky you so far but this is a hare brained medium/long term investment strategy in my opinion unless this is a tiny percentage of your overall net worth or something.


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## KalEl (18 Apr 2007)

funnygirl said:


> well thats only my opinion, putting 1500 into it wont get you much but all my "numbers" are in the one lot, cause i bought them all the same time, which results in a higher return and any money i do get is put straight back in, just my luck, but its working for me


 
You're missing the point...this is interest on your current account, day to day money to live your life. 5 years ago we were charged fees for the privilege, now banking is largely free and you'll get interest on the balance. Most people need/have their money for the month sitting there...now they get interest.
Prizebonds are a different kettle of fish


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## funnygirl (18 Apr 2007)

so  what are you going to keep doing keep changing bank accounts for a few extra euros? if your only looking at it from the outset of getting 10% of what you might have your gonna be no better off. Halifax are just trying to get there feet off the ground in this country.
If you truely want a bank account with more to offer you should look into Ulster banks U First current account. just read it


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## ClubMan (18 Apr 2007)

funnygirl said:


> so  what are you going to keep doing keep changing bank accounts for a few extra euros?


If that's what it takes to get the best returns then why not? 


> if your only looking at it from the outset of getting 10% of what you might have your gonna be no better off.


Huh?! Your c. 10% _CAR _(ignoring inflation) was down to pure luck! Most people will not earn this or anything at all on _Prize Bonds_. If you believe that interest bearing current or deposit accounts and _Prize Bonds _are really directly comparable then you are very naive.


> Halifax are just trying to get there feet off the ground in this country.
> If you truely want a bank account with more to offer you should look into Ulster banks U First current account. just read it


Why exactly do you consider _UFirst _better than _Halifax _or other banks' offerings?


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## KalEl (18 Apr 2007)

funnygirl said:


> so what are you going to keep doing keep changing bank accounts for a few extra euros? if your only looking at it from the outset of getting 10% of what you might have your gonna be no better off. Halifax are just trying to get there feet off the ground in this country.
> If you truely want a bank account with more to offer you should look into Ulster banks U First current account. just read it


 
No, I'm not going to switch. I'm with AIB and competition has forced them to offer interest on current accounts and cheaper products.
Last year I was paying fees and earning no interest...now I pay no fees and they pay me interest. Not a fortune but better than a kick in the head. I'm happy


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## funnygirl (18 Apr 2007)

you look up Ufirst and the services they offer their customers, maybe then you will understand. plus alot of the time with banks in ireland it still depends on your history, so if you want to go jumping from bank to bank, fire ahead, but there will be a day you need them, for a loan, mortage or the likes, and if your not loyal to them and dont seem to be loyal to anyone else why should they be loyal to you, its common sense, you dont get nothing for nothing!


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## jrewing (18 Apr 2007)

OK funnygirl, you won't be convinced - continue using UB and Prize Bonds. 

Can we leave this thread to discussion of the subject ?


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## funnygirl (18 Apr 2007)

http://www.ulsterbank.com/ri_01a.asp?id=PERSONAL/CURRENT_ACCOUNTS/U_FIRST


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## KalEl (18 Apr 2007)

funnygirl said:


> you look up Ufirst and the services they offer their customers, maybe then you will understand. plus alot of the time with banks in ireland it still depends on your history, so if you want to go jumping from bank to bank, fire ahead, but there will be a day you need them, for a loan, mortage or the likes, and if your not loyal to them and dont seem to be loyal to anyone else why should they be loyal to you, its common sense, you dont get nothing for nothing!


 
The days of loyalty to banks are long gone Funnygirl...I'm starting to think you work for Ulster bank in some capacity.
Knowing the staff in your bank is pretty useless as the local bank manager only has discretion with loans up to about €25,000. If the figures don't add up, you won't get the loan...simple as that.
Talk about the wonders of Prizebonds and the perils of switching banks is as naive as it is unhelpful.
Personally, all I am interested in is competition forcing my bank(s) to give me a better deal so I don't even have the hassle of moving.


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## ClubMan (18 Apr 2007)

jrewing said:


> OK funnygirl, you won't be convinced - continue using UB and Prize Bonds.
> 
> Can we leave this thread to discussion of the subject ?


Yeah - fair point. The rest of us can stop trying to reason with her too.


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## KalEl (18 Apr 2007)

Does anyone think this 10% will be ongoing? There seems to be no mention of an end to it. This and the higher amount (€2000) is interesting.


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## Joe Nonety (18 Apr 2007)

funnygirl said:


> http://www.ulsterbank.com/ri_01a.asp?id=PERSONAL/CURRENT_ACCOUNTS/U_FIRST


 
You lost me at "For just €9 a month" with the final nail in the coffin being the 0.5% interest you get on money in your current account.
Compare that to Halifax with 10% interest on balances of up to €2000 as long as you lodge €1500 every month.
Another big plus for Halifax is that they're open on Saturdays until 12pm.
Hopefully their regular savings account and their credit card accounts will also be part of their online banking.

PS I'm not totally anti-Ulsterbank. They've probably the best deal on their credit card - 9 months interest free plus €40 back if you spend €6000.

PPS The loyalty aspect doesn't come in to it. I applied to one bank for a mortgage that I had been with for 20 years where I had a savings account, and previously a loan and a credit card both fully paid off and I got rejected for a mortgage. I then went to another bank who I had no account with and I got accepted.


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## irishpancake (19 Apr 2007)

Interesting that the Switcher o/d is limited to €1500 and only for 3 months?

What happens at the end of the 3 month period?

Also, common sense tells me that 10% Credit Interest on up to €2000 is probably unsunstainable in the long-term. 

Howeber, good to see that Halifax are actually going to launch their on-line current account facility. Now we know why AIB, UB and PTSB were being so "generous".


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## KalEl (19 Apr 2007)

Interesting too that you get free "everyday transactions" which sounds a little vague to me.
Hopefully the 10% indefinitely will force AIB et al to extend their offers.


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## Excession (19 Apr 2007)

I've been with AIB for years and rang them when they came out with their 11% offer on the current account. The girl on the phone said that she could switch me onto that rate but when I checked a few weeks later nothing had happened. I've now signed a change request form in a branch so we will see if that gets things moving!

Point here is that the 11% only lasts until June or July and then it goes down to 4% or so. Given that the Halifax offer of 10% is permanent I assume AIB will realistically be forced to reconsider this end date?


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## irishpancake (19 Apr 2007)

Excession said:


> ........ Given that the *Halifax offer of 10% is permanent* I assume AIB will realistically be forced to reconsider this end date?



Where does it say the above. 

I would be extremely surprised if this is indeed the case.

On the AIB   point, and their general tardiness in responding to a written complaint from me regarding their inability to transfer my existing current account to their HICA retaining my existing account number, due to their IT system. 

It is now a month since I wrote to their Customer Relations Manager, and I have only received an acknowledgement with the promise that they would revert to me. Their complete insinsitivity to Customer Complaints is driving me to definitely consider a move to another Institution, offering at least as good a deal.

AIB rant over


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## KalEl (19 Apr 2007)

irishpancake said:


> Where does it say the above.
> 
> I would be extremely surprised if this is indeed the case.
> 
> ...


 
Yes, not mentioning a finishing date does not necessarily mean it's a permanent rate!
I can understand your frustration but it does seem to be a genuine IT issue as other posters have had the same problem.


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## Excession (19 Apr 2007)

irishpancake said:


> Where does it say the above.
> 
> I would be extremely surprised if this is indeed the case.


 
There is a press release on the Halifax website that reads:

"Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month"

You can find it here:

[broken link removed] 

I think the banks now realise that they have let the high interest current account genie out of the bottle and its going to be impossible to put in back in. If AIB go back to 4% and there are other banks offering 10% on a permanent basis then they will loose people in droves.


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## KalEl (19 Apr 2007)

Let's hope you're right. €200 a year is a fair whack for any bank to pay just for a current account. I know they're trying to capture all your financial business but in this day and age that's less likely.


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## MrKeane (19 Apr 2007)

So if I transfer my salary to Halifax and keep the balance up and over €2000 I get 10% interest on the €2000 (€200) indefinately. 

Do they charge though for transactions, laser cards etc.

All this is great news thought and shows how important competition is.


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## KalEl (19 Apr 2007)

MrKeane said:


> So if I transfer my salary to Halifax and keep the balance up and over €2000 I get 10% interest on the €2000 (€200) indefinately.
> 
> Do they charge though for transactions, laser cards etc.
> 
> All this is great news thought and shows how important competition is.


 
It says everyday transactions are free so yes it does seem to do what it says on the tin!


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## MrKeane (19 Apr 2007)

I've just seen the Halifax website know (sorry I only scanned this thread) so I just opened an account with Ulster bank (switched from BofI and their gimmicky products) I am waiting for my €150 from Ulster bank, I wonder is there a clawback from them if I move to Halifax next month?


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## conor_mc (19 Apr 2007)

MrKeane said:


> So if I transfer my salary to Halifax *and keep the balance up and over €2000* I get 10% interest on the €2000 (€200) indefinately.
> 
> Do they charge though for transactions, laser cards etc.
> 
> All this is great news thought and shows how important competition is.


 
The bit in bold is wrong, they'll pay 10% interest on balances up to €2000, but you don't need to maintain at least €2k in the account.

Basically, transfer in €1500 a month and you're sorted.


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## MrKeane (19 Apr 2007)

Even better!


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## Rhiannon (19 Apr 2007)

It's about time there was proper competition in Irish banking, I'm very happy to see Halifax offering current accounts and will be opening one as soon as it becomes available — 21st May if I'm not mistaken.

I recently moved to this country and unsuccessfully tried to open an account with National Irish Bank, only to be told that there was a three month waiting list "because they were short staffed".

Pfft. But at least now I can see that as a lucky escape.


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## Moribund (19 Apr 2007)

I can't see any reference to what happens if you go over the 2,000. I would assume that a lowerrate kicks in but that the first 2,000 would be at the higher rate. 

Anyone know?


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## ClubMan (20 Apr 2007)

My guess is 0% on anything over €2K.


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## MrKeane (20 Apr 2007)

ClubMan said:


> My guess is 0% on anything over €2K.


 
Close, I think I saw 0.1% somewhere.

I am thinking of opening 2 accounts, one each for my wife and myself, deposit €2000 in each and just channel the €1500 between them every month, any reason why this would not work?

Where else would you get 10% return on 4k?


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## KalEl (20 Apr 2007)

MrKeane said:


> Close, I think I saw 0.1% somewhere.
> 
> I am thinking of opening 2 accounts, one each for my wife and myself, deposit €2000 in each and just channel the €1500 between them every month, any reason why this would not work?
> 
> Where else would you get 10% return on 4k?


 
I'd imagine it's your salary they're aiming to have lodged but I suppose a standing order from another a/c would have the same effect.
Suddenly you're into hassle though of having to administer a scheme rather than just using their current account product as your current account.


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## irishpancake (20 Apr 2007)

Folks

I think it would be worthwhile for those interested in the new Halifax product to have a look at [broken link removed] on the BoSI web-site.

It gives much more information regarding this proposed new account, and would answer many of the queries being raised by posters.

For example:



> Unlike other banks, the no-catch Halifax Current Account’s interest rate is not an introductory offer but will continue to reward customers as long as they fund the account with €1,500 each month





> Fee Free Banking on Everyday Transactions
> The Halifax Current account offers customers fee free banking, with no transaction fees on the following:
> 
> * Account maintenance
> ...





> To ease the switching process, Halifax has introduced a 0% switcher overdraft for the first three months, up to a maximum of €1,500. This is unique in the Irish market place. This provides three-months peace of mind for customers who are switching their account. Customers will enjoy fee free banking on everyday transactions





> As an additional benefit, the Halifax Current Account overdraft will have a €50 buffer to guard against customers unknowingly exceeding their authorised overdraft limit.



Sorry for quoting so extensively, but I feel it is necessary to draw the Boards attention to these facts, which are not really advertised on the Halifax web-site.

BTW. I have no connection with BoSI or Halifax, but I certainly will soon be a customer, and at last ditch the non-responsive AIB.


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## DublinTexas (20 Apr 2007)

irishpancake said:


> Sorry for quoting so extensively, but I feel it is necessary to draw the Boards attention to these facts, which are not really advertised on the Halifax web-site.


 
In Post Number 2 of this topic there is a [broken link removed] to the halifax announcement which mirros what the BoSI page says.


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## irishpancake (20 Apr 2007)

DublinTexas said:


> In Post Number 2 of this topic there is a [broken link removed] to the halifax announcement which mirros what the BoSI page says.



oh ohhhhhh   

Sorry bout that, lost track of the post

Thanx, DublinTexas, and again apologies.


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## Aisling2323 (20 Apr 2007)

if i leave 2000 Euro in this new Halifax account i'll earn more in a year on that than on any deposit account out there.


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## ClubMan (20 Apr 2007)

Now if only this magical current account actually existed at the moment!


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## DublinTexas (20 Apr 2007)

ClubMan said:


> Now if only this magical current account actually existed at the moment!


 
So true...

Let's see how many people queue in front of Halifax branches up and down the country on the day of the launch to get an account


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## MrKeane (20 Apr 2007)

One area where competition could be improved is to reduce the hassle of so called switching. Surely once you are in the system then that should be it. For example to move from bank of ireland to UB all you should need is your bank statment, all automated deposits, direct debits and standing orders should just port over without any messing. I switched recently and bank of ireland refused to port my direct debits and standing orders which they are supposed to. I also had to switch my payment details and child benefit myself, as well as produce my identification and household bills.


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## z108 (20 Apr 2007)

concerning prize bonds. My grandmother has held some since circa 1960 and hasnt won one cent.


About these new accounts, has anyone figured out the best (returnwise) place to lodge a  lump sum of about 20 or 30 grand from which one could drip feed into one of these  high interest current accounts ?


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## ClubMan (21 Apr 2007)

MrKeane said:


> One area where competition could be improved is to reduce the hassle of so called switching. Surely once you are in the system then that should be it. For example to move from bank of ireland to UB all you should need is your bank statment, all automated deposits, direct debits and standing orders should just port over without any messing. I switched recently and bank of ireland refused to port my direct debits and standing orders which they are supposed to. I also had to switch my payment details and child benefit myself, as well as produce my identification and household bills.


I thought that there already was such a system?


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## KalEl (21 Apr 2007)

sign said:


> About these new accounts, has anyone figured out the best (returnwise) place to lodge a lump sum of about 20 or 30 grand from which one could drip feed into one of these high interest current accounts ?


 
What do you mean by this?
I would have thought the best thing to do is have your salary paid into this account and keep the balance in and around 2K permanently.
It is a good offer one problem might be the lack of branches...I know they'll have Internet banking but you do need a bricks and mortar branch sometimes...plus their online banking might be duff.


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## z108 (21 Apr 2007)

Thought I was very clear about what I meant.


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## huskerdu (21 Apr 2007)

Hi Sign,
THe reason it is not clear what you meant, is that you mention 20K in the context of the current account. Surely you need a savings account. 
The high interest current account only pays interest on 2K. If you have 20K, it is definitely not the account for you.


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## z108 (22 Apr 2007)

Thanks . Its all clear to me now. But now Im looking at  a sum from 40 to 70 k (depending if I spend some) and rabobank only give that interest  for up to 10 k  you say


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## skrooge (22 Apr 2007)

sign said:


> Thanks . Its all clear to me now. But now Im looking at a sum from 40 to 70 k (depending if I spend some) and rabobank only give that interest for up to 10 k you say


 
This isn't the right area to be discussing this but this post has already gone off on so many tangents.

Think you need a combination of lump sum savings accounts (rabo 5% 1st 10, NR 4.3% on bal>1K) and regular savings account (AIB 7.1%, Anglo 7%, Halifax 7%, BOI 6.65% etc.). If you think you won't need all of these savings in the short-to-medium term you might consider investing part of it in equities or a fund (think Quinn-life have the lowest rate). 

I plan to use the Halifax current account as portal for my salary. Plan to keep 2K in their while my main current account will remain NIB account. At present I have my salary paid into my UL account which I opened for the €150. I then simply transfer balance to NIB from where I redirect funds to other savings accounts. Reason why the hub will remain NIB is that I've an ECB tracker fund (ecb +1%) keep current account at max €500 and simply transfer money from tracker account as I need it. I realise having salary paid into a separate account slows down the process but it does provide a certain stability. 

Word of advice be careful when switching current accounts you may have to pay double stamp duty if you have more than one account if you have one operating. When I opened my UL account I made sure not to request cards - just to be sure.


Skrooge


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## Nermal (22 Apr 2007)

ClubMan said:


> I thought that there already was such a system?


 
Recently implemented a direct debit system and there's certainly nothing the IPSO direct debit specs about it. 

It might come down to the bank writing to the various business with DDs on your account asking them to change the details, which is slightly pathetic really.


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## whistler (24 Apr 2007)

When you deposit a min of €1500 monthly (Halifax), does that have to be a lump sum? For somebody who is paid weekly I would need to 'juggle' my money a bit. 
Am with BOI at the moment: current account, savings, car loan + mortgage (yeah i know, being really lazy). More savings in Credit Union. Any advice?


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## ClubMan (24 Apr 2007)

Nermal said:


> Recently implemented a direct debit system and there's certainly nothing the IPSO direct debit specs about it.


I was referring specifically to the account switching code of practice which translates into processes which the banks implement with the aim of making switching easy/seamless.


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## ClubMan (24 Apr 2007)

whistler said:


> When you deposit a min of €1500 monthly (Halifax), does that have to be a lump sum? For somebody who is paid weekly I would need to 'juggle' my money a bit.


Probably best to ask them but some or all of these regular saver accounts allow you to deposit more than once each month as long as any monthly funding targets are met or not breached.


> Am with BOI at the moment: current account, savings, car loan + mortgage (yeah i know, being really lazy). More savings in Credit Union. Any advice?


Have you had a browse/search around the existing forums/threads for suitable tips?


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## oldtimer (24 Apr 2007)

As far as I know €1500 to be lodged in month but not necessarily in a lump sum. I think Whistler needs to take a good look at his/her finances. 
(1) Current account with BOI - probably no interest.
(2) Car loan - at what interest?
(3) savings - at what interest?
(4) mortgage - what interest? What type? variable, tracker, fixed, LTV?
(5) How much in Credit union? What interest? Have you Credit Union loan?
I bet you are paying a hefty price for ''being really lazy.''


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## MrKeane (24 Apr 2007)

ClubMan said:


> I was referring specifically to the account switching code of practice which translates into processes which the banks implement with the aim of making switching easy/seamless.


 
Bank of Ireland refused to assist with my switch and no reason was given, I had no bad debts or history other than 10 years of paying them juicy fees each 1/4, and a nice sized loan too, which they have now lost over this.


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## cool_cat (25 Apr 2007)

*New Visa Debit Card From Halifax!!!*



DublinTexas said:


> I just hope that next to what they say on the webpage they will offer
> 
> 
> Visa/Mastercard Debit Card linked to the account (rather than an outdated Laser system) so that you can pay worldwide with it
> ...


 
It looks like your first request has been [broken link removed] I had the same requests and had nearly lost all hope (VISA debit cards have been available for 15+ years in other european countries)...I am switching to Halifax on the day this goes live!!


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## DublinTexas (25 Apr 2007)

*Re: New Visa Debit Card From Halifax!!!*



cool_cat said:


> It looks like your first request has been [broken link removed] I had the same requests and had nearly lost all hope (VISA debit cards have been available for 15+ years in other european countries)...I am switching to Halifax on the day this goes live!!


 
I noticed that yesterday in a newspaper and I'm happy, it's way better than Laser.

Now let's hope that 3 (Free withdraw on Halifax/Bank of Scotland Cash Machines in the UK) comes true too than Halifax current account is going to be my number 1 choice.


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## cool_cat (25 Apr 2007)

*Re: New Visa Debit Card From Halifax!!!*



DublinTexas said:


> I noticed that yesterday in a newspaper and I'm happy, it's way better than Laser.
> 
> Now let's hope that 3 (Free withdraw on Halifax/Bank of Scotland Cash Machines in the UK) comes true too than Halifax current account is going to be my number 1 choice.


 
What about number 2? (online international transfers) - I would love that too...

Cheers.


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## DonKing (25 Apr 2007)

I don't understand what's the advantage of Debit card over Credit card? Surely it would be preferable to purchase goods/services using your credit card and avail of the 50 or so days free credit? This is even more important if you want to mainatin a level of €2000 in your current account to maximise the interest earned on your current account.

With regard to money witdrawal through an ATM I can see that the fees are expensive if you use a credit card. Is this the only advantage of a debit card over a credit card? Having your cards(credit+Debit) combined into one with the same pin number is handy also.

I think once I've seen that the Halifax on-line banking is up to scratch, I'll be saying goodbye to Bank of Ireland.


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## aishling (9 May 2007)

Just wondering if its possible to have more than one current account in your name? I with AIB high interest at the moment and have a long standing relationship with them so dont particularly want to cut the strings as i might need them for a mortgage one day! Would it be possible to say leave €2000 in with halifax and move €1500 in and out of it to get the high interest rate?


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## skrooge (9 May 2007)

aishling said:


> Just wondering if its possible to have more than one current account in your name? I with AIB high interest at the moment and have a long standing relationship with them so dont particularly want to cut the strings as i might need them for a mortgage one day! Would it be possible to say leave €2000 in with halifax and move €1500 in and out of it to get the high interest rate?


 
There’s no issue with having more than one current account with more than one bank. I plan to do something similar. Use the Halifax account as a savings account, albeit it passing €1500 a month, and using my NIB account as my “normal” current account.


Don’t get hung up on banking with one bank in the hopes of developing a good “relationship”. This will make very little difference when it comes to asking for money. Mortgage approval is mainly a mechanical procedure. Once you can prove your income, savings etc. your salary is plugged into a computer and it spits out what you are entitled to. AIB will not lend you any additional money purely because you’ve been banking with them for 20 years. Besides you should look at what other banks have to offer, might get a larger loan amount or a better rate etc.


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## aishling (9 May 2007)

That's great! Yeah your probably right about the relationship with your bank having no impact on decision these days, don't worry I'll shop around!


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## Steve 0 (12 May 2007)

DublinTexas said:


> Visa/Mastercard Debit Card linked to the account (rather than an outdated Laser system) so that you can pay worldwide with it


Will this be accepted online as if its a laser, e.g. billpay.ie


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## Steve 0 (12 May 2007)

ClubMan said:


> My guess is 0% on anything over €2K.


According to [broken link removed] it is 0% on anything over €2K and if you dont meet the €1500 target the monthly interest is only 0.1%.


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## Clarkey (21 May 2007)

The new halifax current account is now available. I applied for it today


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## RiceCakes (25 May 2007)

Does anyone know if cashback is possible with the debit card with this account?, I find that pretty handy with my BOI laser card.


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## skrooge (27 May 2007)

RiceCakes said:


> Does anyone know if cashback is possible with the debit card with this account?, I find that pretty handy with my BOI laser card.


 
From the Halifax website. "You can use your Halifax Debit Card to pay for purchases, get cashback and withdraw cash from ATMs. Your card can also be used as ID if you visit any of our branches"

The daily withdrawal limit on the ATM card is €500. I presume the limit on the debit card would be similar.


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## DublinTexas (31 May 2007)

If you decide to apply online and send them the required documentation make sure you post the letter registered or something.

They (or rather AnPost they claim) now have lost twice my documents!

I'm now going over to the branch and do it there because I don't trust them at all.


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## shanegl (31 May 2007)

Yep, I've applied online today, but I wont be posting the documents. Seems like a recipe for disaster. Just going to pop into their Branch on saturday morning


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## bacchus (5 Jun 2007)

Does that work ?

Wife opens one a/c and commits to min lodgement of €1500 per month.
First month, she lodges €2000.

Husband opens one a/c and commits to min lodgement of €1500 per month.
First month, he lodges €2000.

Second month and hereafter...
Transfer €1500 out of wife a/c to husband a/c and transfer €1500 out of husband a/c to wife a/c.

So, each month, €1500 is lodged onto each account, e.g. conditions to get 10% are met, and both accounts are pretty much all the time at optimum balance (e.g. €2000) withtout having to use extra €3000 for cash flow.


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## MugsGame (5 Jun 2007)

> If you decide to apply online and send them the required documentation make sure you post the letter registered or something.
> 
> They (or rather AnPost they claim) now have lost twice my documents!



Posted mine last week, and have just noticed this. Never had a problem posting documents before (ACC/Rabo/NR), so you have me worried now! At least I had the sense to keep a photocopy. Did think about visiting a branch, but it seemed simpler to send things direct to their back office.


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## MugsGame (7 Jun 2007)

Update: after that "scare", my original documents were returned yesterday.


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## leex (11 Jun 2007)

In reply to Bacchus query I'm guessing the 1500euro transfer mightn't apply between halifax accounts???

Maybe use another bank with free banking to receive wages/salary payments and transfer 1500 to each of the 2 Halifax accounts yourself each month.


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## emul (15 Jun 2007)

Can anyone confirm the ability to transfer funds internationally with just a single phone call, no need to visit a branch .....it's not that I don't believe what people say in a call centre ... just like to know someone has been there and done that. I don't want to move my business only to find that I have a 35km round trip every time I want to do this.

Thanks

Eoin

P.S. I have read their website and can't find it in writing


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## onlineprint (16 Jun 2007)

Has anyone actually opened a Halifax Current Account and if so how long did it take for you to :

a) Get a answer?
b) Get access to your new account?


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## Nytol (26 Jun 2007)

I have opened a Halifax Current account.  

It took 5 days before I got approval and then it took another 5 days for my card and bank details to arrive. It all went smoothly.  

The card I received is an all-in-one ATM/Visa Debit/Cheque Guarantee card which works just like Laser, the funds comes straight out of your bank, and it is accepted *anywhere* that you see the Visa sign.  The card has a CVV number on the back. 

I have used the card on PayPal, eBay and everal other online stores without a problem. The VISA Debit card is the only reason I opened the account; no more 3V.  It is, in my opinion, a nice looking card with a light blue design and nice rounded edges. It has the new symbol for Visa on it as opposed to the old Visa flag symbol. 

The stripe that you sign on the back is rather different to any card I have seen which makes it very easy to sign with a ballpoint pen.

I still have my AIB account, I didn't have to switch to get this account.

One downside is that Halifax do not seem to have their own ATM network even at their branches they do not have an ATM machine so getting balance requests can be tricky but you can use internet banking.


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## aishling (26 Jun 2007)

They will be bringing ATM machines on stream shortly, they have 2 outside there St. Stephens Green branch, there just not operational yet! Hopefully they will have one at the rest of their branchs as well!


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## DublinTexas (26 Jun 2007)

And I'm now finaly joining the Halifax account customers. I received a phone calls today telling me I'm approved (1 month after I applied). 

According to them they "found" my documents on the 19st of this month, nearly 4 weeks after I send them to them. Hurray!

Now I just need to convince them to give me a credit card and PTSB is gone..


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## VOR (26 Jun 2007)

Opened a credit card account for the 0% balance transfer and the bank account on the same day. It took 5 working days to get the cards and another 2/3 for the PINs. No sign of the internet banking details yet or the cheque book for that matter.
Overall, a very quick and easy system and the demo for the online banking seems straightforward. My experience with BOI online isn't great.
I am now changing over my direct debits so I am sure I'll come across some glitches sooner or later. It's inevitable with banks.


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## shanegl (9 Jul 2007)

I'm enduring a nightmare with them at the moment trying to get my internet banking details. It all run from the UK and obviously their postal strikes are mucking things up. I really don't want to get new ones issued because that's another week I'll have to wait at least.


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## DublinTexas (9 Jul 2007)

shanegl said:


> I'm enduring a nightmare with them at the moment trying to get my internet banking details. It all run from the UK and obviously their postal strikes are mucking things up. I really don't want to get new ones issued because that's another week I'll have to wait at least.



Are you sure that it comes from the UK?

I got new online details send on 3rd July and it was here on 06th July with post paid in Eire with Dundalk return address.

It might be run from the UK but it for sure looks like it's printed in Dundalk and send from there.


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## shanegl (11 Jul 2007)

They probably send it on from Dundalk, but I was told by a few people that the operation is run from the UK. They could be wrong I guess.


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