Opening First Active regular saving a/c

H

henry

Registered User
Messages
70
To avoid having to read through all 26 pages of the "First Active e-savings account", can anyone offer some advice on this.

I recently opened a FA e-savings account by mail. Sent off application form and identification details in the post. No problem. Lodged a lump sum there @ 5.22%.

I planned to open a regular savings account with FA and transfer accross € 1,000 per month from e-savings to this and earn 7.15%.
I phoned FA about setting up the regular savings account to be told that I would need to call into a branch to arrange this and that I would also need to supply all of the ID requirements again.

Is this really necessary ? Has this happened to anyone else ? Calling into a branch does not really suit.
 
henry said:
Lodged a lump sum there @ 5.22%.
Click to expand...
Hopefully less than €15K such that payment of the first lot of interest won't put you above the €15K (or €15,001) limit and thus onto the lower rate for the full amount?
I planned to open a regular savings account with FA and transfer accross € 1,000 per month from e-savings to this and earn 7.15%.
I phoned FA about setting up the regular savings account to be told that I would need to call into a branch to arrange this and that I would also need to supply all of the ID requirements again.

Is this really necessary ? Has this happened to anyone else ? Calling into a branch does not really suit.
Click to expand...
Sounds odd. Not sure why you can't just fill in a DD mandate form for payment of the money from the eSavings account into the Regular Saver account? Call their telephone banking and ask them?
 
I don't have a regular savings account set up yet.
Thats what I am trying to do, but they insist I call into a branch.
 
They should not need all of the money laundering ID again. However you do have to go to a branch to open the account as far as I know. That was my experience though.
 
I have already posted my story in the other FA thread but its that I opened the e savings one no problem but despite having my ordinary saving account for over ten years with them, they will not sanction me transferring online from that account to the e saver. I called into my local branch complete with passport and all requested documention but a month later still nothing except another letter asking me to do all that over again. Upon phoning they confirmed the applications had been received but could not tell me what the problem is and to wait another week or so in case its ok then!!
 
tinkerbell said:
but despite having my ordinary saving account for over ten years with them, they will not sanction me transferring online from that account to the e saver.
Click to expand...
I have transferred to/from PTSB and Halifax from/to eSavings no problem.
 
Lucky you! Pity they don't facilitate a well established old customer like me just as easily? Phoned again today and told to call into my local branch again with passport and try again even though thats exactly what I did three weeks ago. Whats the old saying about time is money?
 
Just wondering with this FA at 7.15% interest rate,does this stop after a year and you go to a lower rate ie same as ECB.
 
No. But the rate is variable and subject to change as explained on the FA website.
 
I send off application for the FA esaver account on Friday 15th February and within a week I had confirmation that the a/c was opened. I was able to transfer funds immediately from my AIB current a/c and when I called FA two days later they confirmed they had received the funds. Since then, I have received the details necessary to access their online banking service. All in all I was very pleased with their customer service and prompt a/c set up.
 
I got a FA Regular Savings account set up through the post. I wanted to feed it from an esavings account i planned to set up concurrently but was told I coud'nt transfer from esavings to regular savings? Is this wrong?

I am currently transferring from my aib notice 7 to my aib current account and then in to the FA reguar savings account. It would be alot easier to transfer my lump sum in the notice 7 to esavings and feed the regular savings account from this.

Anyone else doing this?
 
Kingdomkerry said:
I got a FA Regular Savings account set up through the post. I wanted to feed it from an esavings account i planned to set up concurrently but was told I coud'nt transfer from esavings to regular savings? Is this wrong?
Click to expand...
I think you can only fund the regular savings account via DD and eSavings probably doesn't support that?
 
The FA regular saver is SO only as far as I know and according to the best buys thread.... not sure if you can alternately do DD but the SO would be the preferred method as you have direct control over it, especially if you got online banking.

Anyways they're correct in saying you can't feed the regular savings from the esavings. There's no facility for SOs or DDs available for the esavings as far as I know.
 
ClubMan said:
I'm pretty sure that the only option on the form was for DD and not SO.
Click to expand...

[broken link removed]

**You are required to set up a Standing Order upon account opening to credit your account monthly
Click to expand...

Likewise when I went in it was an SO, though to speed things up I kept the SO request they told me to give to my bank and just setup the SO online(very convenient to manage).

We are talking about the same product right?:confused:
 
Yes - regular saver account. I guess I was wrong so. I assumed that it was a DD mandate on the application form. Maybe it was an SO mandate. I left it with them so presume that they send it on to my bank?
 
Mmmm I got the SO mandate and was instructed to drop it into my bank.
I don't think an institution can instruct another institution to pay them funds from your account via SO? In practise SOs are instructions(and controlled) from the customer as opposed to DDs which are instructions from another institution.

Maybe if you signed the SO mandate they sent it to your bank on your behalf? Ah well nothing a call to your bank or checking your SOs online won't answer?;)
 
I just opened a FA reg savers on Thursday. Its definately a SO NOT a DD. I just signed the standing order form and was asked did I want to hand it into my bank or else they could post it for me. I told them to post it as it was 4.45 (handy that my FA branch opens until 5 compared to AIB!!!)

It should show up on my AIB 24 banking in a few days I guess. Bonus is that you can adjust your SO online (well AIB online banking anyway).

btw. I asked about how long the rate would last for in to the future - he said at least 6 months unless ECB rates drop but even then the rate should only drop in line with ECB - this was just his word nothing official - so non-commital I guess :) they don't promise any rate so I guess I can't argue ..... (also said they are keen to keep the product and not slash rates like AIB and others)
 
Last edited:
Am I right in saying that there is no limit on the amount you lodge into this account if you change the date of the standing order from your feeder account. For example, could you set up for €1,000 to be transfered on the 1st of the month, then when that goes through change it to the 2nd of the month, etc. Or is the amount lodged limited to €1,000 per calender month? Hope my question makes sense :eek:
 
I'm pretty sure that it's a maximum of €1K in any one month and if you exceed that then the account is closed or reverts to some other lower rate.
 
You must log in or register to reply here.
Back
Top