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

As ClubMan says, the only 'definitive' proof of membership status is if you received voting papers for the recent AGM.

[Edit: post crossed with ClubMan's]
 
Certainly the new Nationwide Regular Saver @ 7.35% is NOT a member's account
 
I have it both verbally when opening and by confirmed by email (today) that the EBS Regular Saver IS a share account:

Thank you for your e-mail.

I can confirm that the regular savings account is a share account.

Please do not hesitate to contact us by phone at 1850 654321 or by e-mail
at info@ebs.ie, if you have any further queries or requests.
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I did get the member's magazine the other day. No voting papers but I did only start the account five months ago. I'm hanging in there with my €200, would probably vote against demutualisation if it ever comes up, but I'll take the windfall if it passed ;-)
 
Popped into the Liffey Street branch to look for an application form. None on display so I asked at the information desk for one. Your man told me that there was no application form and to open a regular saver would involve a c. 30 minute face to face financial review "because it's an investment account (!?!) - to make sure that the account is suitable for the customer". As a member all I can say is thank goodness EBS are in such a healthy financial position that they can afford to turn away business from people who cannot be bothered with such a palaver to open a deposit account. :rolleyes:
 
ClubMan said:
Your man told me that there was no application form and to open a regular saver would involve a c. 30 minute face to face financial review
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Is this standard procedure in all EBS outlets or was the guy just using it as an opportunity to try & sell you other products.
I was intending on opening an account tomorrow with them but this sounds like way to much hastle.

On another note, I read at the start of this thread that EBS's online banking was poor. Is this still the case or has it improved?
 
I also tried to open a regular saver in Liffey St and yer-one looked at me as if I was mad just to walk into an empty office and expect to actually meet someone or set up an account (in an institution in which I already hold one account). Anyway, after sulking for the rest of the morning, I called Drumcondra EBS and asked to set up an appointment to set up an account and the nice chap there said something along the lines of "don't be minding those crowd in Liffey St, come on up and we'll do it for you in 5 mins" which he duly did. So head for your local EBS is my answer!

Sprite
 
WaterSprite said:
I also tried to open a regular saver in Liffey St and yer-one looked at me as if I was mad just to walk into an empty office and expect to actually meet someone or set up an account (in an institution in which I already hold one account). Anyway, after sulking for the rest of the morning, I called Drumcondra EBS and asked to set up an appointment to set up an account and the nice chap there said something along the lines of "don't be minding those crowd in Liffey St, come on up and we'll do it for you in 5 mins" which he duly did. So head for your local EBS is my answer!

Sprite
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Cheers for that I'll give it a go and see. Whats their online banking like by the way?
 
DELLBOY 08 said:
Is this standard procedure in all EBS outlets or was the guy just using it as an opportunity to try & sell you other products.
I was intending on opening an account tomorrow with them but this sounds like way to much hastle.
Click to expand...
He told me that this was standard procedure and that there was no other way. Even when I explained that I was already a member and didn't need anybody to advise me on the suitability of the account to my needs. While obviously EBS are free to administer their account application procedures as they see fit I think that this is ridiculous and have complained to the EBS via their website about it.

WaterSprite said:
So head for your local EBS is my answer!
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Liffey Street IS my local EBS! :(
 
DELLBOY 08 said:
Cheers for that I'll give it a go and see. Whats their online banking like by the way?
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I haven't used their online banking for this account but used it when I had my SSIA with them and it was all right - nothing special but told me what I had in the account.

Sprite
 
ClubMan said:
Liffey Street IS my local EBS! :(
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That is annoying for sure. For me, although Drumcondra is my local EBS, I'd never actually set foot in that office until I opened the account, so, if you still want to open an account, then head for a smaller EBS office (and ring in advance to see if you can just walk in an open an account). I was also pretty mad at EBS in Liffey St when I tried to open the account there and agree with you that it's ridiculous that they can't/won't do it there and then - or at least that they don't say in their literature that you can't open it on the spot. It was a total waste of time.

Sprite
 
I got this response to my complaint.
Date: 28th October 2008
Re: Account Opening

Dear ...

I acknowledge with thanks your most recent email with regard to your enquiry concerning our procedures for opening a new account here in EBS Liffey St.

Firstly please let me begin by offering my sincerest apologies to you for the delay in replying to you enquiry raised. As requested I will set out below our procedures we have in place to facilitate the opening of new accounts.

  • All members who wish to open a new account must do so by meeting with a Savings and Investment Adviser.

  • Should a Savings and Investment Adviser be free on the day then there is no need to make an appointment. We will facilitate the members request there and then. However, if a Savings and Investment Adviser is not available at the that time we can arrange the following;

A} Ask the member would they like to wait for a short period of time
until a Savings and Investment Advisor becomes come free or
alternatively

B} Schedule an appointment for a future date that is suitable to the
member

  • The reasoning behind making an appointment for a new account is as follows;
A} Confidentiality – Accounts are no longer opened at the counter. This
is to protect you the member and to ensure that all details of any
conversations are discussed in private.

B} With all new account opening we also go through what’s a called a
Member Review with all our members. This process has been
developed to provide our members with a greater standard of care and
insight when discussing their financial needs and options.

C} As part of this process, and as required by the Financial Regulator,
we will ask you about, among other things, your current financial
position, what you require from your investment, your current views
on potential risks and how quickly you will need access to your
funds

D} This process was also introduced to help meet many of the
requirements set down by the Financial Regulator. In taking this
approach we are protecting you and ourselves in this regard

E} We also use this valuable time with our members to ensure that all
our records are up to date and to enquire has any of your
circumstances changed since we spoke to you last

Regarding the time it takes to open an account that very much depends on you the member and how many questions one might have to ask at that time. We do not have a set time for opening an account; however we do recommend that at least 30 minutes be set aside for each review / appointment. Not all appointments I add take up this amount of time. Again I extend my apologies to you if this message was not conveyed accurately to you at the counter.

I would like to take this opportunity to thank you for providing me with your feedback regarding your concerns surrounding our account opening practice.

Finally I hope going forward your experiences will be one of a positive nature. Please feel free to contact me at .... should you need to discuss any aspects of the above.

Kind regards

...
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Surely the IFSRA issue is a red herring since this is a regular saver deposit account with no restrictions on access to the cash and not, for example, an account/investment that restricts access or may involve volatility/risk to the sums saved?
 
So today I get a call from Liffey Street inviting me to come into them for a free financial review so that they could tell me about all the great products that they have to offer and it would only take about an hour of my time. This, remember, from the same crowd who would not let me open an account when I dropped in unilaterally. What a joke... :rolleyes:
 
ClubMan said:
So today I get a call from Liffey Street inviting me to come into them for a free financial review so that they could tell me about all the great products that they have to offer and it would only take about an hour of my time. This, remember, from the same crowd who would not let me open an account when I dropped in unilaterally. What a joke... :rolleyes:
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You could go along to the review, and start off by saying "...now, where was I, Oh yes I wanted to open an account last <whenever>, but you wouldn't let me. Now, what did you want to see me about ?..." :D
 
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