First Active e-savings account

ClubMan, 18-07-2007, 10:20 PM :
I already complained by email to FA and IFSRA about the lack of the charges tariff booklet on their website or in the package that applicants receive. I have heard nothing back in two days from either.
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Got an email reply from them today saying that there is no Tarriffs of Charges booklet because this account has no charges :-o
 
Hi,

I too have opened one of these accounts. Get the impression over the phone that they're making it up as they go along!

Trying to set up once off payments from EBS account. Has anyone done this successfully yet into esavings account? Latest today when onto EBS is that they are having difficulty recognising FA sort code and that they are looking into the matter.ea
 
So I got a PAPER statement for the account yesterday (wow paper statements for an online only account) which featured next to the usual account details an IBAN number for the account.

So I tried again from Halifax but SortCode not allowed, so I went to my UK bank account and tried it with the IBAN and that seams to work.

What for a strange bank! Can't set up the sort code with IPSO but international.
 
Just to let you know that FA have lost my cheque, put in my application July 21st and finally the account is open with nothing in it! They have promised to sort it out, but it really is not worth all this hassle.

Regards,
Titch
 
I transferred 1 euro using AIB phone banking - it worked.

Can you access the FA online using phone banking?
 
I sent the from in on the 13th of july

They sent my tax certs etc.. back to me 3 weeks ago (i assumed the account was open) with out a cover letter!

just rang them to get account number etc... and there is no record of my documentation and that if i want to open an account I have to apply again.

NO CHANCE IM DOING THAT!!!!
 
ClubMan said:
Yes - so you should lodge less or withdraw the interest ASAP as mentioned previously several times in this thread.
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Hi Clubman,

Would you have any idea of the business logic of FA's following policy:-

€15,001 - €1,000,000
4.00 % Gross4.07% AER
€1 - €15,000
5.10% Gross5.22% AER
"If the balance of your savings is €15001 or above you will get an AER of 4.07% on the whole balance."

Surely, good marketing dictates retaining the higher rate on balances up to €15000 and then reducing the rate on the excess over €15000, similar to rabodirect's policy?
 
In light of the Northern Rock digital run (and despite the pain that people seem to be going thru' simply to open an a/c, if the 17 pages of posts here are anything to go by!), are people happy with banking with yet another pure-Internet banking a/c, and with a bank that's little more than a mortgage store??

Why do you think they're offering such a relatively high interest rate? Perhaps it's to offset a little thing called risk?
 
sapmanie said:
In light of the Northern Rock digital run (and despite the pain that people seem to be going thru' simply to open an a/c, if the 17 pages of posts here are anything to go by!), are people happy with banking with yet another pure-Internet banking a/c, and with a bank that's little more than a mortgage store??
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They are more than that:

In 2003 First Active was acquired by Ulster Bank Limited, part of The Royal Bank of Scotland Group.
 
Sorry don't want o advertise anything but if anyone already has an account with UB or FA I think that the "esavings" works great: I can switch money between the 2 accounts I have very easily as well as transfer money out from the esavings quickly...

I know about the annoying moments we faced with the set-up but the patience is awarded in my opinion at the end...
 
Lost cheques, problems transferring money IN, lost paperwork, delays, quirky website, possible unseen charges etc.

As a Northern Rock Refugee, I find it incredible that people are willing to put up with all of this just to open an online First Active a/c and earn themselves only approx. €200 to €300 more than 15k the post office would earn them over a year. (note I said approx.)

Can you imagine how long it would take to get your money out of FA if they had a scare ?

I used to be a "rate tart" as well, and would do anything to get my extra 0.5%, but trust me after going though what I and countless others went though with Northern Wreck, I wouldn't wish it on my worst enemy.

If you are thinking of putting money into this or any other online a/c, based on my experience, at the very least make sure that you can do without any access to the money over a two-three week period in times of trouble. I really thought I'd never see a bank run, let alone be in one. I thought it was for black and white films.
 
Just about to open FA account, but dont know whether to put full 30k in or put 15k in rabo aswell
 
CKT said:
Just about to open FA account, but dont know whether to put full 30k in or put 15k in rabo aswell
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Keep the amount in FA below €15,001 to avail of the higher 5.22% AER rate. If you put in more money the lower 4.07% rate applies to the full balance, unlike the banded rates you get with RaboDirect.

It really is bizarre that FA have an interest rate regime that encourages people to deposit less not more money with them. :(
 
Did another test transfer from Rabodirect to FA esaver over the weekend and I can confirm that transfers now work from rabo. Also worked from BOI.
 
I see that this thread has calmed down now...:D It reached half of the NR thread... Quite an achievement!!!:D
 
Hi

Just for clarity can I ask the following:

Has there been a definitive response regarding lodgements and withdrawals regarding the FA eSavings Account?

To illustrate can I quote the following:

From FAQ at [broken link removed]

Can my initial lodgement be taken from an account which is not a First Active account?

No, your initial lodgement can either be taken from a First Active account or you can send us a personal cheque. Once your account is opened it is possible to transfer funds by standing order or electronic transfer into your eSavings account from any account which has the facility to set up standing orders or electronic transfers.
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Extract From Savings and Deposit Accounts Terms & Conditions ([broken link removed])

Additional Terms and Conditions for eSavings Account

43.5 Lodgments can be made by transfer from any First Active account in one or more of the
Account holder's name(s) or by regular Standing Order from any bank account in the
Republic of Ireland. Lodgments can not be made by any other method. The maximum
amount which can be lodged to an Account is €1,000,000.

43.6 Withdrawals from an Account can only be made by transfer to a First Active account
or other nominated non First Active account in one or more of the Account holder’s
name(s). Withdrawals cannot be made by any other method.
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The first quote seems to indicate that electronic transfers can be made from any ROI account with the facility. (Not talking about SO's, just one-off or occasional lodgements).

The second quote seems to rule out anything but lodgements from existing FA account, or regular Standing Order from any bank in ROI.

Has anyone had any experience of operating this account, and lodgeing one-off or occasional funds from non-FA banks?
 
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