RaboDirect
Registered User
- Messages
- 186
Well the good news is that we are extending the zero entry on all investment funds until Tue June 5 to give everyone a few more days to get their orders in.
Me too.
Just transferred all of my SSIA money into my rabobank account yesterday but it still shows a zero balance when i try to buy funds. The transfer of the money into the savings account is still pending.
If i cant buy them by sunday without the entry charge i'm going to Quinn Life with 20k odd i have put aside for investment.
I refuse to pay an entry fee + management fee + exit fee.
Just transferred all of my SSIA money into my rabobank account yesterday but it still shows a zero balance when i try to buy funds. The transfer of the money into the savings account is still pending.
If i cant buy them by sunday without the entry charge i'm going to Quinn Life with 20k odd i have put aside for investment.
I refuse to pay an entry fee + management fee + exit fee.
RaboDirect
Registered User
- Messages
- 186
Minion,
If you place your orders for funds up to and including Tuesday you won't be incur any entry fees.
Thanks Rabo,
I'll do that if the money is cleared by Tuesday then.
I've already sent away the form etc for Quinn-Life and will be investing there in the future.
Its just that its convenient to use the money in my rabo account to invest in rabo funds while the charge isnt there, but it wont be, when the entry fee is back, so it will be Quinn form then on, unless Rabo make themselves competitive.
S
South
Guest
The funds Rabo offer are actively managed, the Quinn Funds are passive, so the charges on each will of course not be equal.
Hi
Dare I ask whats Rabodirect's definition of actively managed, compared with passively managed please ?
I like the online features from Rabo etc which is part of the reason I use them ... sure, rates & charges also play an important part I grant you.
The fact that Rabo has failed to pass on the entire 0.25% of recent interst rate rises was disappointing, I might add !
... for a long time, Rabo led the charge in terms of offering the best rates but recent rate rises have seen Rabo "skimming" the rate increases, in terms of what they pay the customer. The introduction of higher interest rate, regular savings accounts, from Anglo, Hallifax etc has certainly caught my eye and made me ask, how come Rabo don't offer something similar for regular savers with better rates than their demand, savings account ?
I'd also like to see Rabo offer the opportunity to have interest paid more than once per year on it's savings account. Sure, I know ... the rate would have to be reduced a little if this happened, but it would still be better than having to wait a year to get your interest imho.
Rabo could really benifit from further investment in it's online offerings to deal with:
* Tax payable on Investments
This is something which is seriously impacting on Rabo's potential to get more investments in, from what I can see on AAM and from speaking with friends, family etc.
The tax calculator has been promissed for some time now, but has yet to materialise
There is little or no detail on how tax is dealt with for the Investments, on Rabo's website, that I can find. There needs to be a decent FAQ on the site ... much of whats discussed on AAM.com could be included for a start !
An option to have a tax payment deducted at source would be excellent. I say option, because I appreciate there are complications for various types of investors etc.
However, if there were an option to have a deduction made each time you cashed in a profitable fund and have this paid directly to Revenue by Rabo, I'd take it. I'd far rather be in a position where I was looking for an annual rebate of an excess payment to Revenue, than have to try and face dealing with how to report earnings on these funds in an annual tax return etc.
Finally, I've said it before and suspect I'll find myself saying it again but fair play to Rabodirect for being willing to face the public via AAM.com ... it's only a shame other institutions would not do the same thing !
Thanks
G>
Dare I ask whats Rabodirect's definition of actively managed, compared with passively managed please ?
I like the online features from Rabo etc which is part of the reason I use them ... sure, rates & charges also play an important part I grant you.
The fact that Rabo has failed to pass on the entire 0.25% of recent interst rate rises was disappointing, I might add !
... for a long time, Rabo led the charge in terms of offering the best rates but recent rate rises have seen Rabo "skimming" the rate increases, in terms of what they pay the customer. The introduction of higher interest rate, regular savings accounts, from Anglo, Hallifax etc has certainly caught my eye and made me ask, how come Rabo don't offer something similar for regular savers with better rates than their demand, savings account ?
I'd also like to see Rabo offer the opportunity to have interest paid more than once per year on it's savings account. Sure, I know ... the rate would have to be reduced a little if this happened, but it would still be better than having to wait a year to get your interest imho.
Rabo could really benifit from further investment in it's online offerings to deal with:
* Tax payable on Investments
This is something which is seriously impacting on Rabo's potential to get more investments in, from what I can see on AAM and from speaking with friends, family etc.
The tax calculator has been promissed for some time now, but has yet to materialise
There is little or no detail on how tax is dealt with for the Investments, on Rabo's website, that I can find. There needs to be a decent FAQ on the site ... much of whats discussed on AAM.com could be included for a start !
An option to have a tax payment deducted at source would be excellent. I say option, because I appreciate there are complications for various types of investors etc.
However, if there were an option to have a deduction made each time you cashed in a profitable fund and have this paid directly to Revenue by Rabo, I'd take it. I'd far rather be in a position where I was looking for an annual rebate of an excess payment to Revenue, than have to try and face dealing with how to report earnings on these funds in an annual tax return etc.
Finally, I've said it before and suspect I'll find myself saying it again but fair play to Rabodirect for being willing to face the public via AAM.com ... it's only a shame other institutions would not do the same thing !
Thanks
G>
Hi
Out of interest, is the delay due to Rabo or your SSIA provider ? .. if it's Rabo's fault there has been a delay, surely they can help you out if you make direct contact with them ?
Cheers
G>
Its been gone from my other account and pending in my rabo account since last Tuesday. Completely down to Rabo.
To be honest i couldnt be bothered contacting Rabo about it. I wanted to take advantage of their offer but cannot because they were too slow to clear the money. Since i have now gone through the process of opening a quinn-life account i might as well go with them with regular payments as they are cheaper than rabo anyway.
Im not the only one that feels rabo are an expensive option for investment.
Only 10k earns 5% so you might as well invest anything over, but with someone who has the lowest charges.
S
South
Guest
I'd rather buy something useful for a tenner than something bogstandard for 8 quid!!
I agree there are cheaper options but it all comes down to choice. I have used Rabo as I like some of their funds that they have on offer but I can understand people who stay awqy due to charges and tax problems etc. And be careful making your investment decisions based on solely the lowest charges. They should certainly form part of the decision but should not be the only factor.
Hi
thanks for the answer, I've no hidden agenda here btw, just being a bit nosey
What does it mean, if it shows a payment as "pending", is this like uncleared funds or something ?
Agree with you regarding the €10k limit @ 5% btw, particularly when you look at the fact that the ECB went up another 0.25% today and chances are Rabo won't increase their rates by a full 0.25%, just as they have skimmed a bit in the past few rate increases, to pull back on the amount over ECB they have been paying depositors.
Cheers
G>
I see that Rabo has the following on their fees page [broken link removed] :
"Investment Fees Should you invest €1,000 in any of our Investments Funds the entry cost of 0.75% will be included in the overall cost. "
Does this mean that they waive the entry fee for investments of over Eur 1000 in any particular fund?
"Investment Fees Should you invest €1,000 in any of our Investments Funds the entry cost of 0.75% will be included in the overall cost. "
Does this mean that they waive the entry fee for investments of over Eur 1000 in any particular fund?
RaboDirect
Registered User
- Messages
- 186
No. It means that the 0.75% charge of €7.50 on your purchase is included in the €1,000, ie, not €1,007.50. The entry fee for the fund of the month is 0.25%.