Northern Rock Charges

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carpedeum

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I have a large amount of money from redundancy to place on deposit, while I decide what to do with my future. I was considering putting €10K with Rabodirect and the balance with Northern Rock, since Rabo only pay 5% CAR on the first €10K and 3.75% on the ramainder, whereas NR pay 4.30% CAR on everything.

However, I notice that Northern Rock refer to this charge on their website: "A €25 charge applies to same day electronic transfer payments". They also have a charge "Withdrawal by Electronic Transfer (€1 minimum) Free".

I assume that the €25 charge means that they guarantee that money would be transferred from them to my current account in another bank (e.g. AIB) on the same day. How long in practice would it take for the free Electronic Transfer to hit my current account at another bank?

Perhaps, someone with a Northern Rock account and Rabodirect Account can advise of any hidden and unhidden charges etc? Is it true that the NR web site is slower than Rabo for carrying out transactions.
 
carpedeum said:
However, I notice that Northern Rock refer to this charge on their website: "A €25 charge applies to same day electronic transfer payments". They also have a charge "Withdrawal by Electronic Transfer (€1 minimum) Free".

I assume that the €25 charge means that they guarantee that money would be transferred from them to my current account in another bank (e.g. AIB) on the same day. How long in practice would it take for the free Electronic Transfer to hit my current account at another bank?
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2-5 working days in my experience (NR or Rabo to/from PTSB).
Perhaps, someone with a Northern Rock account and Rabodirect Account can advise of any hidden and unhidden charges etc?
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There are no hidden charges and you don't generally have to pay charges other than for same day transfers.
Is it true that the NR web site is slower than Rabo for carrying out transactions.
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Not in my experience.
 
Both banks should itemise all charges on their website. I have never paid either any charges while operating accounts with them.
 
Same here, unless you're in a real hurry to withdraw your savings(same day) there are no transfer charges.
 
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