Moving savings to get better rate

So I have a decent sum in KBC and Rabo savings accounts

Both earn 1.75%

PTSB offer an account with 2% up to 50k

I was in the process of moving it and then I got worried, would I lose the interest already gleaned in the other accounts by moving?

I mean I assume if I have a given sum in an account for say four months of the year I get four months worth of interest on that sum at the end of the year, rather than no interest at all? But maybe that assumption is wrong...

Also do these banks just keep bumping up their rates over every so often to attract new customers with no intention of keeping them up as I've been through most Irish banks at this stage...


EDIT: I suppose what I'm really asking is if I have money in one instant access account and another bank offers a better rate on the same type of account should i move the money immediately or should I keep it in the account until the interest is paid?

Interest is calculated daily but paid on a certain date so you won't lose any interest by moving it. For example, just say you have money in an account since 01/01/2014 and interest is payable on the 01/01/2015. If you move your money out on December 31st, you will get 364 days worth of interest instead of losing it. So, if there is a better deal available elsewhere move it as soon as you can.

Thats what I hoped Connard, thanks

No problemo.

Just be careful that there is not a clause in your current product which includes a penalty if funds are withdrawn prior to the maturity date - the devil is in the detail!