Halifax High Interest Current Account

in terms of prize bonds i put 12000 into it about 3 and half years ago and now i have just over 16000, so a return of 4000 is better than gimmicks with a bank, there is always a claws somewhere.
 
funnygirl said:
to be honest its alot of money to be putting aside each month and alot of T&Cs to adhear to, i find prize bonds has a better overall return
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Prize Bonds are a relic from old gods time...the type of thing your Granny stuck money into!
My main current account is with AIB...I get free banking and 11% on €1500 for 3 months, then 4%. All I do is have my salary paid into this account, pay my bills online and use my laser card. I don't find any of these conditions onerous.
If you want to get your money working to the max you should avail of one of these current account offers.
 
funnygirl said:
in terms of prize bonds i put 12000 into it about 3 and half years ago and now i have just over 16000, so a return of 4000 is better than gimmicks with a bank, there is always a claws somewhere.
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You were very lucky to win €4K and earn the equivalent of c. 10% CAR by my calculation. Most people will not be so lucky and I don't think that it's prudent to recommend Prize Bonds as a medium to long term investment given the high chances of earning nothing at all. I have a few just to be in the draw but they would be a tiny percentage of my overall savings/investments.
 
well thats only my opinion, putting 1500 into it wont get you much but all my "numbers" are in the one lot, cause i bought them all the same time, which results in a higher return and any money i do get is put straight back in, just my luck, but its working for me
 
funnygirl said:
well thats only my opinion, putting 1500 into it wont get you much
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In most cases it will get you nothing while the real value of your capital is eroded by inflation.
but all my "numbers" are in the one lot, cause i bought them all the same time, which results in a higher return
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This is totally fallacious. On what basis do you believe that having one block of numbers increases your returns or even your chances of winning?
and any money i do get is put straight back in, just my luck, but its working for me
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Lucky you so far but this is a hare brained medium/long term investment strategy in my opinion unless this is a tiny percentage of your overall net worth or something.
 

You're missing the point...this is interest on your current account, day to day money to live your life. 5 years ago we were charged fees for the privilege, now banking is largely free and you'll get interest on the balance. Most people need/have their money for the month sitting there...now they get interest.
Prizebonds are a different kettle of fish
 
so what are you going to keep doing keep changing bank accounts for a few extra euros? if your only looking at it from the outset of getting 10% of what you might have your gonna be no better off. Halifax are just trying to get there feet off the ground in this country.
If you truely want a bank account with more to offer you should look into Ulster banks U First current account. just read it
 
funnygirl said:
so what are you going to keep doing keep changing bank accounts for a few extra euros?
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If that's what it takes to get the best returns then why not?
if your only looking at it from the outset of getting 10% of what you might have your gonna be no better off.
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Huh?! Your c. 10% CAR (ignoring inflation) was down to pure luck! Most people will not earn this or anything at all on Prize Bonds. If you believe that interest bearing current or deposit accounts and Prize Bonds are really directly comparable then you are very naive.
Halifax are just trying to get there feet off the ground in this country.
If you truely want a bank account with more to offer you should look into Ulster banks U First current account. just read it
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Why exactly do you consider UFirst better than Halifax or other banks' offerings?
 

No, I'm not going to switch. I'm with AIB and competition has forced them to offer interest on current accounts and cheaper products.
Last year I was paying fees and earning no interest...now I pay no fees and they pay me interest. Not a fortune but better than a kick in the head. I'm happy
 
you look up Ufirst and the services they offer their customers, maybe then you will understand. plus alot of the time with banks in ireland it still depends on your history, so if you want to go jumping from bank to bank, fire ahead, but there will be a day you need them, for a loan, mortage or the likes, and if your not loyal to them and dont seem to be loyal to anyone else why should they be loyal to you, its common sense, you dont get nothing for nothing!
 
OK funnygirl, you won't be convinced - continue using UB and Prize Bonds.

Can we leave this thread to discussion of the subject ?
 

The days of loyalty to banks are long gone Funnygirl...I'm starting to think you work for Ulster bank in some capacity.
Knowing the staff in your bank is pretty useless as the local bank manager only has discretion with loans up to about €25,000. If the figures don't add up, you won't get the loan...simple as that.
Talk about the wonders of Prizebonds and the perils of switching banks is as naive as it is unhelpful.
Personally, all I am interested in is competition forcing my bank(s) to give me a better deal so I don't even have the hassle of moving.
 
jrewing said:
OK funnygirl, you won't be convinced - continue using UB and Prize Bonds.

Can we leave this thread to discussion of the subject ?
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Yeah - fair point. The rest of us can stop trying to reason with her too.
 
Does anyone think this 10% will be ongoing? There seems to be no mention of an end to it. This and the higher amount (€2000) is interesting.
 
funnygirl said:
http://www.ulsterbank.com/ri_01a.asp?id=PERSONAL/CURRENT_ACCOUNTS/U_FIRST
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You lost me at "For just €9 a month" with the final nail in the coffin being the 0.5% interest you get on money in your current account.
Compare that to Halifax with 10% interest on balances of up to €2000 as long as you lodge €1500 every month.
Another big plus for Halifax is that they're open on Saturdays until 12pm.
Hopefully their regular savings account and their credit card accounts will also be part of their online banking.

PS I'm not totally anti-Ulsterbank. They've probably the best deal on their credit card - 9 months interest free plus €40 back if you spend €6000.

PPS The loyalty aspect doesn't come in to it. I applied to one bank for a mortgage that I had been with for 20 years where I had a savings account, and previously a loan and a credit card both fully paid off and I got rejected for a mortgage. I then went to another bank who I had no account with and I got accepted.
 
Interesting that the Switcher o/d is limited to €1500 and only for 3 months?

What happens at the end of the 3 month period?

Also, common sense tells me that 10% Credit Interest on up to €2000 is probably unsunstainable in the long-term.

Howeber, good to see that Halifax are actually going to launch their on-line current account facility. Now we know why AIB, UB and PTSB were being so "generous".
 
Interesting too that you get free "everyday transactions" which sounds a little vague to me.
Hopefully the 10% indefinitely will force AIB et al to extend their offers.
 
I've been with AIB for years and rang them when they came out with their 11% offer on the current account. The girl on the phone said that she could switch me onto that rate but when I checked a few weeks later nothing had happened. I've now signed a change request form in a branch so we will see if that gets things moving!

Point here is that the 11% only lasts until June or July and then it goes down to 4% or so. Given that the Halifax offer of 10% is permanent I assume AIB will realistically be forced to reconsider this end date?
 
Excession said:
........ Given that the Halifax offer of 10% is permanent I assume AIB will realistically be forced to reconsider this end date?
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Where does it say the above.

I would be extremely surprised if this is indeed the case.

On the AIB point, and their general tardiness in responding to a written complaint from me regarding their inability to transfer my existing current account to their HICA retaining my existing account number, due to their IT system.

It is now a month since I wrote to their Customer Relations Manager, and I have only received an acknowledgement with the promise that they would revert to me. Their complete insinsitivity to Customer Complaints is driving me to definitely consider a move to another Institution, offering at least as good a deal.

AIB rant over
 
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