Advanzia Bank Lux Paying 3.76% AER Instant Access for First 3 Months

What if you weren't on the 4.13% rate? My 3.??% rate expired towards the end of 2023 when my 6 months was up. I did get the email but are they likely to honour the 4.13% rate?
I wasn't on the 4:13% rate. I was on the 3.4% rate which was due to expire at the end of this month. But they sent me that email today and I'm assuming it means they'll move me from 3.4% to 4:13% on February 1st. I'm not sure if anyone who signed up to Advanzia before July of last year will have got this email today as their Introductory rate would have possibly expired at the end of 2023.
 
I withdrew on 31 December grrr. Took 1 day to receive funds. The account still exists with zero balance but I haven't received an email.
 
I withdrew on 31 December grrr. Took 1 day to receive funds. The account still exists with zero balance but I haven't received an email.
I applied on Dec 23rd, sent all the info required in. Applied again 6 days ago. Sent all info required to the correct address. Nothing back except the 'information received' email.
 
I withdrew on 31 December grrr. Took 1 day to receive funds. The account still exists with zero balance but I haven't received an email.
Interesting. And strange too. This bank operates in decidedly capricious, unpredictable ways... I also have received no such email, funds remain on deposit, 3.?% rate expired by now, 1.6% rate now applying.
Not only that but near ten days now with NO RESPONSE whatever to email to them asking whether (a) a "new" account can be opened at the higher "new customer" introductory rate, OR (b) will they modify existing contract to the new rate.
No response whatsoever.
 
Interesting. And strange too. This bank operates in decidedly capricious, unpredictable ways... I also have received no such email, funds remain on deposit, 3.?% rate expired by now, 1.6% rate now applying.
Not only that but near ten days now with NO RESPONSE whatever to email to them asking whether (a) a "new" account can be opened at the higher "new customer" introductory rate, OR (b) will they modify existing contract to the new rate.
No response whatsoever.
Morning all,

I'm just off the phone with them now. I am currently on a 3 month deal at 3.87% which was due to run out on January 21st. I was told they extended the existing deal for me at 3.87% to 21 March an extension of two months. I asked to see if I could move to the slightly higher account but I was told they have some 1,500 applications outstanding and given I'd have to close the account and might not make the deadline in time but given I'm getting an extra two months at 3.87% I'm happy enough with that.

Just FYI as all!

Best,

Opus2018
 
Morning all,

I'm just off the phone with them now. I am currently on a 3 month deal at 3.87% which was due to run out on January 21st. I was told they extended the existing deal for me at 3.87% to 21 March an extension of two months. I asked to see if I could move to the slightly higher account but I was told they have some 1,500 applications outstanding and given I'd have to close the account and might not make the deadline in time but given I'm getting an extra two months at 3.87% I'm happy enough with that.

Just FYI as all!

Best,

Opus2018
any advice for setting up account with this crowd?
 
There is a separate thread about Advanzia advice...
 
any advice for setting up account with this crowd?
Hi there,

The registration process was ok - nothing too dramatic. I tried a test lodgement and it took a day or to go through. You get an email every month with details of the transactions and the current balance plus interest. The phone number is alright although it did ring out once or twice (before Xmas so, you know). Once I did get through, it was fine.

Oh one other thing - the cover page is in German but you can switch it to English (a tip a fellow AAM member gave me).

Overall? It's ok - it does what it says on the tin so I'm happy enough.

Hope this helps but let me know if you have any further questions.

Best,

Opus2018
 
How long does a query usually take to be answered by Advanzia Bank?
Well I queried them early Jan, asking could I get the "new customer" interest rate by opening a new ac. It was 21 days later that I received a reply, yes three weeks. Nor did they answer the question, just repeated that the rate was 1.6%. Which I obvs knew already. Reiterated the query, so I guess they'll come back in another few wks. Or ignore it.
 
Can I point out an error on your

Instant Access & Notice Deposit Accounts​

page, about the interest on the Advanzia ac. Interest actually is paid only on funds of €5,000 or more, and not on €1+ as stated on your page, and which I relied on!
Below €5k, the interest paid is ZERO, as I discovered the hard way, after withdrawing funds to below €5k.
 
Thanks but the Advanzia website says "3.97% interest from the very first euro" and "Effective credit interest p.a. (*from €1*)3.97%".

5,000 EUR is the minimum initial investment.

But I believe you and I will change it to 5,000 EUR but the wording on the Advanzia website is misleading/wrong on this point.
 
Thanks but the Advanzia website says "3.97% interest from the very first euro" and "Effective credit interest p.a. (*from €1*)3.97%".

5,000 EUR is the minimum initial investment.

But I believe you and I will change it to 5,000 EUR but the wording on the Advanzia website is misleading/wrong on this point.
Indeed, I do agree with you 100%, and like you, I also looked closely at this wording and relied specifically on their "from the very first euro" statement.
They had refused to augment the 1.6% rate, and simply ignored requests about closing and opening a "new customer account, so I moved out a substantial amount on deposit, leaving just under €1k. When the interest for January came in at zero I had to revisit their website and sure enough, buried in something called "our price list", you will find their statement (completely contradictory of course) that "no interest is paid on deposits under 5k".
I would go further than saying this wording is misleading, I would say even deceitful. But whether a complaint is any use is moot, since they don't respond in any way either timely or meaningful.
 
Just an update folks, I got my Advanzia Account statement for January 2024 which was dated on 02/02/2024 and I can confirm that they have increased my interest rate from 3.40% to 4.13%
 
I did not receive any email of extension of promotional interest (my 3 months ends at the end of Feb). I phoned, no movement, it will end and if that changes they will email, so I advised that my funds would be withdrawn if it is not extended. (Politely…). I then followed up with an email asking for extension and referencing the phone call.
 
I did not receive any email of extension of promotional interest (my 3 months ends at the end of Feb). I phoned, no movement, it will end and if that changes they will email, so I advised that my funds would be withdrawn if it is not extended. (Politely…). I then followed up with an email asking for extension and referencing the phone call.

I sent them an email query a few weeks back and have heard nothing from them. Unfortunately they don't appear to be the most responsive on email.
 
I sent them an email query a few weeks back and have heard nothing from them. Unfortunately they don't appear to be the most responsive on email.
After a month they finally replied to me, saying I could close my ac and open a (new) account to get the "new customer" interest. Daft by any standard, and no small hassle, but did it anyway... now it's nearly two wks since the new account application and no word from them. It's like the Fawlty Towers of banking, Basil is working on his own dealing with the emails...
 
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