In today’s Irish Times First Active are advising their interest rates from 01/03, my issue is with their ECB Rate Linked A/C. It states the new rate on this a/c will be 4% including bonuses, it is currently 4.5%. The rate excluding bonuses remains at 3.5%. This would suggest they are reducing the bonuses by .5%.
My T&C’s state interest for €15K+ is .5% below ECB + .8% if you make < 3 withdrawals per quarter, and a further .2% if you make < 12 withdrawals per year and state the current rate including bonuses is 4.5%.
I’m thinking this won’t affect me, it’s only for new a/c’s but looking at the T&C’s under bonuses the last T&C states “F/A reserve the right to amend these T&C’s “ in particular if there is any relevant material change in the prevailing legal, tax or regulatory conditions.
Is this their get out of it clause?
My T&C’s state interest for €15K+ is .5% below ECB + .8% if you make < 3 withdrawals per quarter, and a further .2% if you make < 12 withdrawals per year and state the current rate including bonuses is 4.5%.
I’m thinking this won’t affect me, it’s only for new a/c’s but looking at the T&C’s under bonuses the last T&C states “F/A reserve the right to amend these T&C’s “ in particular if there is any relevant material change in the prevailing legal, tax or regulatory conditions.
Is this their get out of it clause?