I would definitely agree with you there. That should be considered false advertising.Best buys updated.
Goodbye 3% term deposit rates from Irish banks? I would guess that BOI and AIB will follow suit. Now might be a last chance to get 3% term deposit rate from an Irish bank during this rate cycle perhaps.
The Irish Independent are reporting that PTSB are saying that they are offering a "market leading" 1 year term deposit rateThe "market" should include all participants in the market, including Raisin and BluOR (direct), and PTSB far from offers the leading rate.
Usually it would not affect existing fixed term accounts.Does this affect customers already on the 3 yr Fixed-Term rate at 3% pa?
NoDoes this affect customers already on the 3 yr Fixed-Term rate at 3% pa?
Why are they reducing (and increasing) ahead of ECB changes?
It took ages for reactions to ECB rate increases.
in fairness its not false advertising...more like inept reporting. Indo are making the claim rather than PTSB?I would definitely agree with you there. That should be considered false advertising.
hint... "fixed"Usually it would not affect existing fixed term accounts.
That's basically it. I've 2 fixed rate accounts opened online a decade ago. Both 1 year terms. On maturity I moved the balance less a cent out and ever since then I get letters as they refix at the prevailing rate. An utter waste of postage on their side but that's their business. Unless rates go north of 50% don't ever expect to see interest hitting that account."On the maturity date you can transfer out the account balance with the exception of 1 cent. To close the account fully, you must forward written instructions to Deposit Services"
So say I go with a 1 year fixed I can then withdraw my money and interest after a year to my current account but must leave a cent. Does this cent get interest the following year if any? You can open a/c online but you can't close it online.
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