Reaping the benefits of current account interest

I have to say it was a great feeling to see the end of quarter payment of €29 going into my AIB account today.
They took and then refunded the fees of €18 as well.
A €47 swing.

Yeh, I got similar few bob from AIB this week as well. It may not be much, but it did leave a rosy glow on my face - getting something from a bank instead of the other way round.

same here I also received a letter yesterday saying they are extending that rate now until 1st August which is great. its nice to get something back from the big boys!

Anyone receive interest on a PTSB Current Account recently? I seem to have received some today. Nice one...

I'm only getting a measly 0.25% from Ulster Bank and that's only on the UFirst account which has a €9 per month charge.

To date I have received the following that I would not normally have received in the past:

• €150 from UB for opening a new current account which I have my salary lodged to but which I then transfer (takes less than a day) to my main PTSB current account.
• €206 in current account interest from PTSB.
• €40 from Rabo for opening a new account for my wife (€20 to my account and €20 to hers) - as I said before I'm fickle!

I have received due to recent switching and changing

-€150 from Ulsterbank for current account
-€1000 for switching my mortgage to UB (not in the account yet, but confirmed via email that I will be getting it soon)
-No fees from bank of Ireland any more
-Lower mortgage interest rate from UB than EBS
-Bank loan and overdraft consolidated into mortgage rather than higher rates*
-TRS on the combined mortgage rather than just the original mortgage
-Credit card switched to pigsback so I get points to spend on phone credit + a €40 credit for switching
-Reduced mortgage protetcion cost from LA brokers

*My overall monthly repayments are the same so I am not putting my bank loan and overdraft on the "never never"

All the above is hassle and takes months but is well worth doing.

Next project is to switch to a halifax current account.

MrKeane said:

-Bank loan and overdraft consolidated into mortgage rather than higher rates*

*My overall monthly repayments are the same so I am not putting my bank loan and overdraft on the "never never"

Click to expand...

Yes - but consolidating higher rate but shorter term credit onto a lower rate but longer term loan (e.g. unsecured/personal loans over a few years onto mortgage over a few decades) could mean paying more in interest over the long term unless you specifically target the consolidated amount for expedited redemption.

-TRS on the combined mortgage rather than just the original mortgage

Click to expand...

If you mean on the mortgage consolidation/topup amount and the money was not used to purchase/renovate your PPR then you should not be claiming owner occupier tax relief on the increased amount.

i haven't got any ptsb interest yet and i remember signing up as soon as the offer started although i see now that a 'single lodgment' of €1,500 is required each month rather than just a lodgment of €1500. if this is the case, they'll be getting an angry phone call from me, as i don't see why i should be penalised for getting paid fortnightly instead of once a month!

I'm beginning to think that my €206 is a mistake so don't get too jealous yet! The PTSB offer is 4% on a maximum of €1,500 which is €60. I think I need to contact them to find out what this lodgement is.

OK - it was my mistake. The interest payment was actually from another account that I have and not from PTSB.

I have banked with AIB for years.
Moved my current account to the high interest one too which was great.
Then in preperation for AIBs high interest current account going way back down the pecking order for interest i opened a halifax current account.

Since AIB have extended their high interest offer til 1st august i'll keep it til then, and have the 2 high interest current account, but as soon as that AIB rate comes back down below 5% that account is getting closed. I'll move any extra money into a Rabobank account and use the 10% halifax current account for my banking.

All this is now set up up and the axe is waiting to fall on the AIB account the minute they reduce the interest rate.