EBS regular saver a/c....7%

ClubMan said:
Seems odd to just mention one, seemingly sinister, possible explanation though. That's all...
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Eh

But I didn't just mention one .... thats the entire point mate !

I think you may be reading something into my original post which is not there Clubman, or perhaps it's a psychological thing with you because you actually suspect something sinister in this instance ?

For the record ....

There are 2 possibilities I've suggested as you can see from the quote below, coupled with "ETC" to suggest other possibilities also.





I do hope this clarifies the matter for you Clubman

Regards

G>
 
Starting Out said:
....

They let me know that there are no restrictions on making withdrawls from this account (similar to AIB's account) but you can only make 2 changes to the direct debit per year.
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Hi

Thanks for this info, the restriction to 2 changes in the d/d for example, is something all possible customers should be made aware of imho.
 
Garrettod said:
Eh

But I didn't just mention one .... thats the entire point mate !

...

There are 2 possibilities I've suggested as you can see from the quote below, coupled with "ETC" to suggest other possibilities also.
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"Etc." is not really a point. Just a catch all. The only specific thing you mention is having something to hide. The point about different computer systems, coming after "etc." seems to be a separate one.
I think you may be reading something into my original post which is not there Clubman, or perhaps it's a psychological thing with you because you actually suspect something sinister in this instance ?
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No - I'm simply going by what you actually posted.
 
Starting Out said:
They let me know that there are no restrictions on making withdrawls from this account (similar to AIB's account) but you can only make 2 changes to the direct debit per year.
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So does this mean you have to close the account if you want to change or lower the DD more than twice in the year or is there a penalty for doing so (i.e. a small fee)?

Had a look at their T&C on their website and it doesn't mention anything about restrictions on changing the DD.
 
I was advised over their e-mail reponse system that the maximum was 2 changes to a direct debit. I'm not sure what would happen if you requested more changes than this.

When I opened this account originally it was the first savings account I opened and I wasn't aware of the types of restrictions some providers have in place on these accounts. It was only when I was made aware through another provider of their bank's restrictions that I sought confirmation from EBS on their policy.

I was quite surprised to hear of a change from what I was originally told in the branch.

FYI...I've found changing direct debits with them to be unnecessarily complicated. Many phone calls involved and faxed letters. It took a few months to sort out what I would presume is a straight forward change. As I've mentioned in other posts, I've found Anglo much more straight forward where you initiate the money transfer each month so you can decide what amount to transfer with as many changes or payment holidays as you'd like.

I have no affiliation with Anglo Irish Bank.
 
I also received a copy of the T&Cs and it doesnt mention any restrictions on changing amounts.

They are open Saturdays which helps also if you work during the usual "banking hours" .
 
Anybody heard if EBS are going to keep the 7% rate after this month?? Person in branch was unsure if it was going to be kept or drop to the ECB rate (4%).

This is the last month of the 7% so I guess another reg savers account needs to be closed (needs a minimum of €20 p.m. to remain open).
 
I enquired of EBS by email as to what was happening to the rate on the 1st of April.
The reply I received was that the ECB rate of 4% would apply.
 
It seems so, but they'll have to announce it officially. At the moment the [broken link removed] still state:
Current variable rate is 7.00% CAR based on ECB rate as at 06/06/2007. A variable interest rate of 3% over ECB rate applies until 01/04/2008. Thereafter a minimum of ECB will be available until 30/04/2010.
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They may well 'do a Halifax', of course...
 
I just closed my account... From now on just lump sums... I don't see such a great advantage if after such few months the rate is dropped...

Sorry for appearing pessimistic...
 
Totally agree with you, Godfather. I saved €1,000 per month for 18 months with Bank of Ireland. The term is now expired as per the terms and conditions and I have earned, after tax, the sum of €689. I am not much good at calculations but by my reckoning, if I had invested my €18,000 @ 3% I would have got around the same interest. Granted Bank of Ireland never offered the top rate of 7%, highest point was 6.75%, nevertheless, I wonder did they calculate correctly.
 

Over the term you only had an average balance invested in the BoI account of
(1000 + 18000) / 2 = 19000 / 2 = 9500

So you can't compare this with having 18000 tied up over the full period.

However I take the point that regular saver accounts can be a lot of hassle. Personally I am persevering, I have regular savers with Anglo, FA, AIB and Halifax so I have a bit of diversification, and I'll take action immediately if the rate drops.
I also think the AIB account is worth considering, even for the pessimists amongst us, due to the significant rate guarantee until Feb 2009 and the fact you can open two accounts and thus lodge €600 per month (I have no connection with AIB)

On a more general front, short term lending rates are rapidly heading skywards again, with EURIBOR at a two-month high, as the credit crunch bites once more. This means banks are having to pay more than 4.6% to lend to each other - and that's the more creditworthy of them. They sure as damn won't get money off me for any less
So there's hope savings rates won't fall too dramatically - just watch where you save!
http://www.euribor-rates.eu/current-euribor-rates.asp
 
Godfather said:
I just closed my account... From now on just lump sums... I don't see such a great advantage if after such few months the rate is dropped...

Sorry for appearing pessimistic...
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Some of us don't have lump sums to invest initally just a few €100s every month left from our wages!! so thats the benefit of regular savings accounts I guess.
 
Darando said:
Some of us don't have lump sums to invest initally just a few €100s every month left from our wages!! so thats the benefit of regular savings accounts I guess.
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Totally agree of course for that case. I just feel a bit disappointed. I opened lots of them and now I've closed most of them...
 
Godfather said:
Totally agree of course for that case. I just feel a bit disappointed. I opened lots of them and now I've closed most of them...
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Agree with that - but there is one benefit - You will not need to go through ID checks again!! Think how many different banks you had accounts with!!!
 
But if he closed most of them, he will have to present id again next time round!! It will be interesting to see if Anglo Irish drop the rate they are paying on their regular saver a/c. I think their review date is in April. They did increase some of their savings rates recently so hopefully they will continue the regular saver at the present rate.
 

I'm not aware of a review date on the Anglo RSA - there is nothing on the website?
 
John J said:
I'm not aware of a review date on the Anglo RSA - there is nothing on the website?
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John J - I am nearly positive I saw this written somewhere recently, however I could be wrong. I'll call them on Tuesday to find out and report back then. I'd be delighted if they don't drop the rate as I only opened this a/c a few months back and I am tied in for two years.
 
Well you're not tied in for 2 years - you can withdraw the money at any time as far as I remember.
 
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