KBC Launch Free Current Account, 4.00% Regular Saver and 1.40% Term Deposit

CiaranT said:
Series of lodgements inside one calendar month is fine.
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Thanks. Does the source of funds matter i.e. what if I transfer €2500 back and forth from another KBC savings account? I know it's a bit of a cheat, but does it still count?
 
heisenberg said:
Thanks. Does the source of funds matter i.e. what if I transfer €2500 back and forth from another KBC savings account? I know it's a bit of a cheat, but does it still count?
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The T&C's do not restrict the source of funds to be an external account.

Hence, transferring €2,500 in from another instant access KBC account and €1,500 out leaving €1,000 for the standing order to the KBC Extra Regular Saver would work.
 
CiaranT said:
Well worth it. Assuming rates don't drop for a little while, one can easily make several hundred euro out of this product.
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Thats a huge assumption though! Their 4% regular saver didnt even last a year. In fact its half what it was when I opened it this time last year. KBC suck for dropping rates after getting you to jump through hoop after hoop to get the thing set up.
 
The 4.00% AER rate will drop. The earlier you jump on board the more you gain from the high rate especially with the 10k lump sum allowed.
 
I went in to the KBC site today to check whether the Flex Regular Saver Account is still available and I was not able to see this product mentioned anywhere. Does anyone know whether it has been already discontinued? It seems strange that they would discontinue so soon after the October announcement, but - at the same time - it was very generous.
 
The 12 month term deposit rate linked to this Extra Current Account has been cut to 1.35%
 
Toying if I should go for this or the EBS Family saver.

I would be lodging 2.5 per month and withdrawing 1.5k leaving 1k for the standing order.
The 1.5k would be in and out almost instantly or the next day.

I wouldn't be using the current account in any other way.

Is that ok and is there anything I need to watch out for.
 
You should be OK, I have been doing something similar for the last 5 months. I transfer 2.5K into it on the last business day of the month. I then have two SO's set up for the first of the month, one to the regular saver and another to send the remaining 1.5K back to my external current account.
 
In the best buys, it says you can get 4% but on their website all I can see is 2% + a 1% bonus.

As an optional extra with your KBC Current Account, you can get a 1% bonus on top of the current KBC Regular Saver rate of 2%. That’s a 3% gross/AER variable to help you save for something special. This Offer continues until further notice. We will provide 30 days prior notice of the withdrawal of this offer.
 
Pudds, you need to read the Extra current account details not the current account.
 
A major advantage of this account over the EBS regular saver is that you can lodge up to 10K at opening time. Also the rate is one percent higher. The downside is having to lodge 2.5K in the current account. Also the 4% rate is variable. It could drop at any time whereas the EBS rate of 3% is guaranteed for the first year.
 
Cheers lads, think I'll give kbc a shot, the initial 10k lodgement is very attractive so the yield would be a lot better than EBS, even if kbc dropped the rate to 3%
 
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