thinking of changing current a/c and opening new savings account

J

jigsaw

Registered User
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156
hi everybody, well over the last few weeks i have seen lots of ads from banks offering better benefits/interests on banking accounts etc. currently i have a loyalty current account with PTSB, all of my direct debits/standing orders/mortgare etc come from this account. i have no seperate savings account.my salary is also lodged into this account. just lately i have been thinking of opning a seperate savings account and possible changing my PTSB current account if i can find a better one. i also have a MBNA credit card and my mortgare is with fist active. well after some reading from this site i have been thinking of doing the following:

changing my current account from PTSB to halifax for the following reasons:

- halifax are paying 10% interest on balances upto 2k euros whereas my current PTSB account is paying only 4% as im an existing customer (the 10% rate is only for new customers i was told by PTSB)
- if i opened the halifax i would receive one of their international debit cards which would allow me to cancel my MBNA credit card thus saving the government levy each year(i rarely ever use the thing)

so basically i was thinking of leaving around 2k-2.5k euros in this new halifax account each month to cover bills etc and the other change i was thinking of making was to open a first active esaver account to transfer my savings into because

- the esaver account is currently offering 5.10% interest rate
- im only getting 4% intereset on savings now because all of my money is in my PTSB current account.

so at the moment its:

halifax current account
first active esaver account for savings

does this combo seem like a wise choice or are there any better products out there that would suit my needs

suggerstions/opinions/comments welcome

thanks in advance

C
 
jigsaw, I am in the same position as yourself having just recently changed my current a/c to Halifax. The debit card seems a real bonus and many people on other threads have spoken very highly of its flexibility. Just to let you know that you do not have to keep the 2k in your account for the full month to earn 10% interest, but you mentioned that it was there to cover bills so thats fine.

I have opted for a regular saver a/c also with Halifax, with 7% interest, however this saving option probably does not give you the flexibility of the esaver a/c with first active (lodge €10 and €750 into your Monthly Saver account every month for at least 12 months AND make no more than two withdrawals during that time).

Hope the above is helpful, you may want to check out the best buys and other threads for further recommendations on both current and saving accounts.
 
thanks for the reply gaz, i have definately decided to go with the halifax current account, maybe i would go with their regular saver but my savings wont be "regular" so i think the esaver will suit me

can you tell me gaz if you received a cheque book with your halifax current account?, and also does your atm/debit card also act as a cheque gaurantee card similar to PTSB

cheers

J
 
Yes I have received a cheque book and opted for a 3-in-1 card with cheque guarantee logo.


You can use either a Halifax 2-in-1 Card or a Halifax 3-in-1 Card on the account
The 2-in-1 Card incorporates a debit card which you can use to pay for goods and services at home and abroad wherever you see the Visa logo and an ATM facility which gives you access to your account 24 hours a day, 7 days a week.
In addition to the functions available on the 2-in-1 Card, the 3-in-1 Card has the Cheque Guarantee function which guarantees cheques up to €130.00 for each cheque written within the terms of the Cheque Guarantee Scheme.
Further info
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does anybody know if i can use the halifax debit card for my paypal account since it has the visa logo on it?

is the charge for the halifax debit card 20 euros or 40 euros per year?

thanks
 
Only credit cards are subject to SD of €40 p.a. ATM and debit card functions are subject to €10 SD each (i.e. combined cards being subject to SD of €20).

[broken link removed]
 
thanks clubman,

wonder if i can use this VISA debit card on my paypal account
 
I guess so - from the PayPal "Add Credit/Debit Card" page while logged in:
Debit Cards (also called check cards, ATM cards, or banking cards) are accepted if they have a Visa or MasterCard logo.
Click to expand...
 
thanks for that clubman looks like ill be able to cancel my mbna CC now and save the 40 euros per year and just use my halifax debit card, i currently have a PTSB lazer/atm card which im paying 20 per year for anyway
 
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