Advanzia Bank Lux Paying 3.97% AER Instant Access for First 3 Months

I had to log in twice with the one time text message, first time it just redirected me to login page, so I went opened a private browsing window and tried again and it let me in without a problem.
 
I haven't been able to log-in for 2 days now. I called customer service and they say there is a problem with the website.
Has anyone else had the same problem?
Thanks.
 
youronlywoman said:
I haven't been able to log-in for 2 days now. I called customer service and they say there is a problem with the website.
Has anyone else had the same problem?
Thanks.
Click to expand...
I've used both portals over the past couple of days, no issues logging in on either.
 
I find the phone service very poor. I tried opening an account. When I asked the lady's name at Advanzia taking the call she deliberately hung up the phone. I think she thought I was going to make a complaint about her. It puts me off opening an account. The line is dedicated to Deposits. When I asked her to confirm the deposit rate she hesitated and delayed in giving it . I would have thought she would have known it.

UPDATE: I rang the Advanzia line again, the representative said the line was very bad but I could hear her perfectly. I asked her to ring me back giving her my number and asking her to repeat back. She never rang back. I rang again and spoke to the same representative, she actually admitted to me that she had no intention of ringing me back despite intimating she would. All in all phone service dreadful. I don't think I will proceed with opening an account after this. There is also a delay in replying to emails. There clearly is a language barrier, although I speak clear English without a heavy accent I think the banks representatives don't understand. They're also quite cheeky to deal with and in that regard unprofessional for a bank.
 
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Customer service is usually where companies fall down and Advanzia is no different, be it on their deposit account or one of their credit card offerings (and they do a lot of programs for Lufthansa, Hilton etc.).

Plus let's face it, in reality this product is aimed at German/French/speaking customers they serve with their credit card portfolio and the rest of Europe is just done as an easy way for them to get deposits to finance their credit card portfolio.

I mean they say themselves "We are steadily increasing our market share in Luxembourg, Austria, France, Spain and Italy, and gradually tapping into other markets in Europe."

I have no issue as I speak German so I can contact customer service if needed, but if I would only speak English, I would have to take customer service availably into account when I do my risk analysis if the interest is worth it.
 
Hi,

Account set up [B]January 2024[/B].
Rate of 4.13% for 3 months, until April 17th.

When my first 3 months with Advanzia were coming to an end, I sent a few emails about interest rate. Also asked about withdrawing money, closing account and opening account again.
I received the *Good News* email below.

April 2024
"Good news for you!
From 01/05/2024, you will benefit from an attractive interest rate for a further 4 months, which is far above our standard interest rate. We guarantee you our special interest rate of 3.97% eff. p.a. (3.90% nom. p.a.) up to and including 31/08/2024.
This means that your entire balance will earn interest at the new rate from 01/05/2024."

Now the term is about to roll over again just over 7 months from setting up. I emailed last week and enquired again.

"Your special interest rate of 3.97% is valid until August 31, 2024. After that, the standard interest rate will apply. The current standard interest rate is 2.12%."

Has everyone had this experience?
Has anyone had a second extension of high interest rate roll over?

Thank you.
 
Have had a few extensions with them, but think this may be the last, now that ECB rates are dropping.
 
I was just looking at Advanzia's website and wondering whether I might be able to squeeze in an application before the current rate changes. But when I began putting details into their application form, I ran into problems entering my mobile number. I've tried it with spaces, without spaces, starting with/without a + before the 353, or with 00353, and nothing seems to be accepted. Can anyone who has an account provide an insight into how they entered their phone number? Many thanks!

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Als online Direktbank bieten wir Ihnen die gebührenfreie MasterCard Gold und ein attraktives Tagesgeldkonto. Advanzia Bank S.A. Ihre Direktbank für transparente und attraktive Produkte.
www.advanziakonto.com www.advanziakonto.com
 
Replying to my own post: Maybe it was just a glitch (because it also wasn't accepting a blank field for landline number, which is not a mandatory field). Now it has accepted a blank landline field and +35387....... with no spaces) for the mobile.
 
Interestingly, their website says "No reduction in the interest rate for higher deposits", though it doesn't define a 'higher deposit'. But that might explain the extensions people have reported above.
 
thimble said:
Interestingly, their website says "No reduction in the interest rate for higher deposits", though it doesn't define a 'higher deposit'. But that might explain the extensions people have reported above.
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I think that is to do with the minimum deposit rather than extensions.

A "higher deposit" is over 5k which is the "minimum deposit".
 
Good news. Another extension but at a lower rate but the 3.97% rate can be maintained if one deposits an additional €5,000.

Good news for you!

From September 1, 2024, you will benefit from an attractive interest rate for a further 4 months, which is far above our standard interest rate. We guarantee you our special interest rate of 3.56% eff. p.a. (3.50% nom. p.a.) up to and including December 31, 2024.

This means that your entire balance will earn interest at the new rate from September 1,2024.

Is this interest rate not yet attractive enough for you? Then transfer at least an additional amount of € 5,000 into your Advanzia Deposit account by August 30,2024, and we will grant you our special interest rate of 3.97% p.a. effective from the day of the additional payment until December 31, 2024, on your entire balance.

The new interest rate will be reflected on your next statement.
Click to expand...
 
I got this too @Lightning so I'm now wondering if it might be worth transfering the €50k that I have in Trade Republic to take advantage of the higher rates? At the moment I have €50k in Trade Republic and €20k with Advanzia.
 
Lightning said:
Good news. Another extension but at a lower rate but the 3.97% rate can be maintained if one deposits an additional €5,000.
Click to expand...
I hope I will receive this.
Well done @Lightning.
I have just set up 2 x BOI regular savers at 3% fixed for 12 months. €2500 x 2 accounts. With rates going south, it could be a good option, while still having instant access.
 
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