I have an ECB Linked Deposit Account with First Active. I understand that they have dropped the interest rate on this account by circa .5%
I always thought that when a financial institution changes their rate that they notify their customers by posting them out a statement showing the rate change? When I asked the counter official in the local Stillorgan office I was told that it was probably notified to the public by a notice in the paper. Is this sufficient?
Has the ECB recently dropped their rates and if not why did the First Active drop their rate if it is called and ECB linked Deposit Account?