DrMoriarty
Moderator
- Messages
- 5,173
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]
[Edit: post crossed with ClubMan's]
I knew you would ask that.Did you get the recent notification of the AGM and voting papers?
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.
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
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
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.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.
Liffey Street IS my local EBS!So head for your local EBS is my answer!
Cheers for that I'll give it a go and see. Whats their online banking like by the way?
Liffey Street IS my local EBS!
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?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
A} Confidentiality – Accounts are no longer opened at the counter. This
- The reasoning behind making an appointment for a new account is as follows;
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
...
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...
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