First Active Regular Saver - 7.15% on up to €1K p.m.

Presumably if you have both e-Savings and Regular Saver accounts, you can transfer money from the Regular Saver to the e-Savings account, and do an external withdrawal from there?
 
MugsGame said:
Presumably if you have both e-Savings and Regular Saver accounts, you can transfer money from the Regular Saver to the e-Savings account, and do an external withdrawal from there?
Click to expand...

Yes, the brochure states you can make a transfer into another First Active account.
 
Re terms and conditions are you allowed to set up individual & joint accounts
so that husband & wife could set up 3 accounts & save 3000 a month.Also can you transfer money from FA ECB Account
 
Alright finally managed to get time to pop into the closest first active store.

Sort of confused though in that I was told that you can't change the standing order?

Means either:
(A) They were wrong?
(B) There's penalties for doing so?
(C) They're not setup to handle variable lodgements?

Could anyone clear this up, or has anyone actually changed it without getting any surprises?
 
Update.
Got a hold of the brochure and it explicitly states that you can change the savings as long as you remain within the amount (1 - 1000), which is the whole point of setting up a standing order instead of a direct debit aye?
That, plus the feedback from others here means I'll go with the "can change" ability.

Issue #2 Setting up online banking:
As soon as I got the account number and sort code through the post I went to the First Active Website to get online banking setup. I used the regular account details for the account info page and everything looked good... then I noticed among other brochures the First Active Rep sent me, was a pre-filled out Online Banking form(this also says "This service is only available to Current Account Mortgage Customers".... ) with a Customer No. that's different from the one the online registration gave me???

Online it says "This is your date of birth (ddmmyy) followed by your unique number which identifies you to the Bank"
The website indeed does hold true to this, but the one i got from the Rep doesn't....

Alright to try to avoid any possible future headaches:
(1) Is FA suppose to send confirmation e-mail of online registration? (didn't get that)
(2) Could someone shed some light on this whole online registration versus post registration inconsistencies?
(3) The standing order is just as valid if you set it up online yourself? (don't want to have to queue at my bank)
 

I opened a regular savings account with FA a few weeks ago. To apply for online banking I just filled in this form [broken link removed]. They then posted out an activation code. I then went to this page [broken link removed], ticked the "If you have an Activation Code please select this box" and continued on from there. (did anyone else notice that to get into the FA online banking there's only one very small link at the bottom of one page? talk about obscure)

I have to say I'm still a bit confused about the whole SO vs. variable amounts question. I'm going to call again to tomorrow to verify. They said I had to setup an SO but I didn't bother. Instead I just transfer in €1000 a month using electronic transfer from my current account (not a FA c/a). How are they to know it's not a SO? I suppose if the date the money hits they're systems each month is different then they might guess but are they really going to look at it that closely?
 
What forms of ID are required to open this account? Currently I do not have any utitly bills in my name, only credit card, bank statement and phone bill - is this enough?

Thanks
 

No expert on this, but maybe there's some communication between the two banks? Bank A may say... okay Bank B your account xyz will be getting transfers at interval i? Certainly beats direct debit as you have more direct control over the SO... but nevermind hopefully someone who works ina bank can clear this up for us.

What forms of ID are required to open this account? Currently I do not have any utitly bills in my name, only credit card, bank statement and phone bill - is this enough?
Click to expand...
Your passport and a current account statement should suffice for that.
 
I got a question regarding the Standing Order myself.
Can you set it up such that the first payment occurs within the same calendar month that the account was opened? I.e. you don't have to target the SO at the following month.

E.g. open account on the 4'th of Month X with 1 euro, setup a standing order online aimed at the 18'th of each Month... come the 18'th of Month X the cash should transfer without a hitch?
 
Re: First Active Regular Saver - 7.15% on up to €1K p.m.

They told me the standing order has to be a different month than the initial deposit, but it does not have to be a month on, e.g. if you set one up today (19th December) with an initial deposit of €1,000, you can have a standing order going from 1st January and every month thereafter.

I have one set up and my initial deposit is in, just need to set up the SO now. Planning on setting up the 5.22% eSaver also to take funds in Rabo below 10k.
 
Re: First Active Regular Saver - 7.15% on up to €1K p.m.

To really throw a spanner in the works here the eSaver people tell me I can electronically transfer money out of this account into the Regular Saver using the FA online banking. Would have to do it manually each month though, no Standing Order. They don't seem to know anything about the Regular Saver product though and so were not sure if this might contravene any T&Cs. FA don't seem terribly together on the communication front.
 
lob020 said:
Re terms and conditions are you allowed to set up individual & joint accounts
so that husband & wife could set up 3 accounts & save 3000 a month.
Click to expand...

regarding the above question by lob020? Has anybody found out if you could set up the 3 accounts? I assume this is possible
 

Ah... I happened to read your reply just as my SO kicked off and was going "Doh!". However good news is that it didn't bounce so contrary to what we might have been told, the SO can kick off in the same month of the initial deposit... i.e. in my case initial deposit and first SO lodgement were both accepted in the month of December.
 
Does anyone know how often the interest is calculated? Presumably monthly to match the fact that deposits are made monthly by SO?
Also, can anyone confirm how often interest is credited? It says in the Best Buys list on AAM
Interest paid on first working day of each quarter.
Click to expand...
but I can't find this on the website.
 
As per bfield's question does anyone know if a married couple can open 3 of these accounts - 1 joint, 2 single and save the maximum amount in each per month?
 
GON10 said:
As per bfield's question does anyone know if a married couple can open 3 of these accounts - 1 joint, 2 single and save the maximum amount in each per month?
Click to expand...

My wife and I opened one of these accounts, however at the time my wife didnt have the necessary ID available so the account was opened in my name only. We were also given a form for my wife to complete and submit along with the ID to change to a joint account.

Regarding your question above, I did ask this in the Branch but the lady wasnt sure (the person usually dealing with saving a/c's was on holidays). Anyway, my wife is going into the branch next week to change the a/c to a joint account. However, she is first going to find out if opeing 3 a/cs is possible. So hopefully, I'll be able to let you know the answer then.
 
Unless I'm mistaken FA don't seem to publish the terms & conditions for such accounts online. It would save a lot of hassle if they did.
 
Thats good news GON10.

Can someone help me with an interest calculation on this FA account. Im trying to calculate how much interest I should receive monthly based on regular savings of €700 per month. When I asked my branch, they said they werent sure how to calculate it monthly, but said I should receive approx €600 interest annually. Does this sound about right??
 
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