First Active Money Market Deposit - 6.34% AER

Opened one of these today with a laborious 40 minute meeting. If you don't already have an account with them, they ask all sorts of personal financial questions such as your monthly income and expenditure, how much other money you have etc. Needless to say I refused to answer such questions.​

Interestingly the person I was dealing with said that this is a limited offer. When FA receive sufficient deposits, they will summarily cease taking further deposits at the current fixed rate.​
 
tallpaul said:
Opened one of these today with a laborious 40 minute meeting.
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Thats madness - 40 mins to open a bloody account.

I'ts a real shame this is not an online account as I wont be in Ireland in 6 months time to withdraw the funds. Is it possible to open a money market account and have the account balance transfered into an E-Savings account after the 6 month period?
 
Well that's what it says on their [broken link removed]. Isn't that confirmation enough?
 


Agreed about the 40 minutes. The advisor said it usually takes an hour but insisted we cut through the crap!! It would put me off dealing with them again.

According to the advisor, your money transfers at the end of the six months to a services account which I also had to sign for yesterday. Therefore I think it would be very possible to transfer your money into an eSavings account at that time.
 
EBS are engaging in this sort of stupidity too. Even for existing customers/members. Ridiculous.
 
ClubMan said:
EBS are engaging in this sort of stupidity too. Even for existing customers/members. Ridiculous.
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I know!- but was in a branch the other day- Liffey Street (existing customer of EBS) and they offered me a choice of waiving the review part of having one done, only took about 5 or 6 mins to open a 1 year fixed so for once I was impressed with them, maybe they are starting to listen to their customers!
 
Has any non First Active customers tried to open one of these accounts?

I enquired about it with the Baggot St branch and they told me I first have to open an Instant Access account before I open the 6 month fixed at 6.25%.

I know this is outlawed by the Consumer Protection Code- insitutions making you take one product if you want another

Also cant access their T&C on line and they wont post them to me, said they are available after I open the account!

Might be making a call to the FR...
 

Yes. See my post at the top of the page...
 
Already a customer. Took 10min. Hasslefree. Transfers from, and ultimately to, Instant Access account only it appears. It appears to take 24hrs before the actual transfer occurs.
 
waka said:
Already a customer. Took 10min. Hasslefree. Transfers from, and ultimately to, Instant Access account only it appears. It appears to take 24hrs before the actual transfer occurs.
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Is the Instant Access account an online account
 
what happens after 6 months ? do they assume you want to do another 6 months so that you always have to give six months notice to get your money ?
 
zod said:
what happens after 6 months ? do they assume you want to do another 6 months so that you always have to give six months notice to get your money ?
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No, you can request it automatically be transferred into the Instant Access account which has to be opened initially. Alternatively you can request that the funds be put into whatever Money Market account is available at the time and at the current interest rates at that time.
 
Just to let you know.....this product is being pulled from the market tomorrow.

Just got a call from First active wondering if I still wanted to open account....which I do....Im waiting for BOI to transfer my funds!

Why can Halifax have my funds moved into a BOI account within the day yet BOI to move funds to another institution's account take up to 4 days?? They could end up having me miss the deadline for this fixed term account.
 

I set one up...early Nov...

But my question is why would First Active unplug this Deposit type account...I have read in another thread that they have recouped approx. €120 million....is it not money the banks are looking for at the present....or am i missing something here....is it to do with the interest rates been so low & with perhaps another cut this week....Please someone explain....
 
I went in to First Active today to enquire about this account. They told me that it will be closing on Friday, but that they had just received instructions that from today it is only open to new customers. As we have regular saver accounts there, we are ineligible to open one.
 
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