Investing in Rabo Bank funds

BRICKTOP said:
Just curious, do you know any other providers who do this?
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In fact I've never heard of this happening before.
If you're directing the question to me...Maybe there is a misunderstanding because the answer is so obvious ?

But of course I know . Walk into any bank or insurance company and you can switch between funds within the one product witout being hit by a charge.
The prime answer as far as I'm concerned is Quinn Life or if youre tired of hearing about QL then even Eagle Star purchased through a flat fee broker.

With Quinn, If I want to get out of my Chinese fund and into a safer bond fund or I feel I want to invest in a Euro fund instead move to that, in which case I dont have to pay an extra entry or exit charge on the fund to do so.
 
Never realised that about QL, will have another look, and have my pension through ES so need to diversify from them.
 
BRICKTOP said:
Never realised that about QL, will have another look, and have my pension through ES so need to diversify from them.
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OK cool . I assumed you'd be aware of that as you have almost 100 posts
 
Quote "But of course I know . Walk into any bank or insurance company and you can switch between funds within the one product witout being hit by a charge."

Sorry just coming back on this, think I am causing some confusion. When you say "charge" do you mean a commission (to provider) or do you mean an exit tax (i.e. 23% to Revenue)? I am well aware other providers allow free switches but am unsure when you switch from one fund to another whether this will trigger the exit tax on the way out (other than in your pension funds), which was my question? Thks
 
I'm amazed at the amount of people that want low fees from Rabo and also want them to do their tax calculations for them. I don't invest in shares/funds etc as I find the area too complicated and I'm not the only one. Personally those who are investing in such things you'd imagine if they were able to do this should also be able to do the tax calculation which seems to be as complicated as investing.

Separately I think the Revenue should make it easier to calculate the tax, isn't that their job? To help the customer - Us. Do they not have a calculator to do this. How do they know if someone submits a return on Form 12 with their gains/losses and 'exit tax' (as versus Capital Gains Tax) that's it's correct. Doesn't somebody in the revenue have to go through the figures?
 
Just to clarify, (first time poster!)

Am I correct in assuming that Quinn Life calculate and deduct relevant taxes and forward them on to revenue?

Also they dont charge any extra to switch between funds?

I am in the position to start investing approx 250 Euro per week. I was going to open a Rabo account and perhaps an AIB regular saver account but with all the tax issues I am reluctant to open the Rabo account.


I take it that Quinn Life is easier to invest in but Rabo has a wider range of funds?
 
Quinn look after all tax aspects (legal obligation-not customer service).

They allow a certain number of switches per year without charging.

There are no tax 'issues' with the Rabo Savings products-DIRT is deducted and paid over same as any other bank.

Rabo offer a wider range of a different type of fund.
 
Aileen2 said:
I'm amazed at the amount of people that want low fees from Rabo and also want them to do their tax calculations for them.
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I don't think it's an unreasonable demand given that QL have lower fees and take care of taxes for their customers. Rabo have a better range of funds and they are actively managed rather than passively managed but the tax situation is a nightmare for a product supposedly aimed at making investing simple.
 

I'm saying that the ability to switch/trade between funds inside the one product without incurring fees or taxes is very important to me and it appears this doesnt happen with Rabobank, I'm sad to say.
Quinn Life charge a flat fee for more than 3 switches which Im unhappy about too but it appears I wont get hit by exit tax or exit fees from Quinn for switching funds but will for Rabo. Im as confused as you by now bricktop lol
 
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