Happy Girl
Registered User
- Messages
- 793
Just to muddy the waters a bit more (as if it needs it at this stage), in the T&C booklet they posted out to me, it states that you must use their Online Banking Service to operate the account. No problem with that, but
Section 13 of the Online Banking T&C states:
"We reserve the right to charge you and you agree to pay the charges for the Service or any part of it."
Hi
Apologies for the delay in getting back to you
In answer to your questions:
1/. There are no maintenance fees applied to the eSavings account.
2/. Interest rates are applied as follows: 5.22% for balances of
EUR15000 and under, 4.07% for balances of EUR15001 - EUR1,000,000
In each occassion the rates apply to the whole balance on the
account, as now stated on our First Active Website.
3/. Once your eSavings account is opened it is possible to transfer
money in from any nominated current account. Customers are not restricted to funding via a First Active account.
I hope this answers any queries you had
Thanks again for your patience
Damien
Damien White
> Retail Direct
> 5th Floor Group Head Office
> Ulster Bank Limited
> 11-16 Donegall Square East
> Belfast BT1 5UB
>
> Tel - 028 90 275808 or RI 048 90275808(ubits 75808) NEW
> Fax - 028 90 275828 or RI 048 90275828 (ubits 75828)
> Email damien.white@ulsterbank.com
> Website www.ulsterbank.com <www.ulsterbank.com>
Can someone interpret the para in bold italics, mine.
They don't state that on [broken link removed] and they don't clarify the key nuance (i.e. the lower rate applies to the whole balance one it's €15,0001+) on [broken link removed]. These guys really don't seem to have a clue...In each occassion the rates apply to the whole balance on the
account, as now stated on our First Active Website.
If you have a balance of €14,500, you earn 5.22% on the lot.
If you have a balance of €15,500, you earn 4.07% on the lot.
They have provided a specific phone no to deal with esavings applications - 01 7092500. If they start to receive a lot of complaints this may get them to get their act together?
Last time I made a complaint to IFSRA about a financial institution this is what I got back when I asked them how they would let me know what happened with my complaint...Btw has anyone complained about this to the Financial Regulator? The fact that people can be told different things by 2 different members of FA staff is surely misleading.
Waste of time if you ask me. I complained to FA about the fact that they don't provide the tariff of charges booklet online but the online eSavings terms & conditions refer to it. They just said they'd look into it.The Financial Regulator is very happy to receive information from consumers. I have already confirmed that the information you raised was passed on to the relevant department - Consumer Protection & Codes.
However - as I hope you can appreciate - the Financial Regulator will not be keeping you appraised of any developments in relation to this issue. The Financial Regulator is restricted from disclosing information under S.33AK of the Central Bank Act, 1942 (as amended by the Central Bank and Financial Services Authority of Ireland Act, 2003).
I hope this clarifies the situation and I can confirm that I am now closing off your file in Consumer Information.
They don't state that on [broken link removed] and they don't clarify the key nuance (i.e. the lower rate applies to the whole balance one it's €15,0001+) on [broken link removed]. These guys really don't seem to have a clue...
FA finally cashed my cheque this morning by the way.
The interest rate applied to your account will be applied to the whole balance of the account
I've sent my original to several banks when opening accounts because I have found getting certified copies too much hassle. FA only asked for a photocopy (non certified).Of course not.
Did you actually read the full thread? There was confusion over the rate issue and it seems to have been finally clarified - 5.22% on balances up to €15K and 4.07% on the full balance if you go over the €15K limit. Different to what some people were assured was the case and different to how RaboDirect for example apply interest. There was also confusion over other terms & conditions. There is absolutely no excuse for a financial institution giving out contradictory information about such black & white matters.I still don't understand what all the confusion is, the T&C seem pretty straight forward to me. Some people are saying that they got different answers from FA staff on certain issues. This can happen in any business
No they don't. The T&Cs simply do not clarify the interest payment and charges issues (since the latter are not covered in the T&Cs at all but in the referenced Tariff of Charges Booklet which is not available online).Staff don't have all the answers but the Terms and Conditions do.
No offence but most people on this thread are not idiots and yet could not clarify the issues even after (in some cases especially after) asking FA.If you can't figure it out - probably best the leave your money in the local CU. No offence.
Some people are saying that they got different answers from FA staff on certain issues. This can happen in any business, doctors differ and all that.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?