Over the 15k limit with FA, does rate decrease?

[tonster01]

Hi there

Sorry I know this is covered somewhere and I tried to find it as well as search the 28 page manual of the FA T&C's for the straight answer but hopefully someone will be able to tell me in short...

Does the rate in the First active deposit a/c decrease when you go over the 15K mark...even if you move the excess out ?

Will the rate band now stay at the lower rate seeing as you broke the threshhold or will it reverse once you take the difference out again?

Thanks in advance

B

 

[ClubMan]

The rate falls for as long as the balance is €15,001 or more. It reverts to the high rate once you reduce the balance. Keeping c. €14,900 on deposit and moving the c. €50 interest out each month works OK.

 

[tonster01]

Thanks a million Clubman.