Advanzia Bank Lux Promo Rates

charlie007 said:
Its actually 3.45% for the full year for new customers.
That's an excellent rate!
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According to the note at the bottom of the home page

The special effective interest rate of 3.45% p.a. (nominal interest rate 3.40% p.a.) applies from the moment you have deposited the minimum amount of EUR 5 000 and is valid for a period of 3 months.....For existing customers and after the promotional period, the standard interest rate of currently 1.51% per annum effective (nominal interest rate 1.50% p.a.) applies.
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But happy to be proven wrong
 
In case of interest to others I had the 3 month deposit account with Advanzia at 3.97% that expires today & I didn’t receive any offer to extend.

I closed the account during the week by emailing them that request, confirming my registered account number to receive funds. I was then able to open another account at the 4.18% rate as a new customer again.

It took 48 hours for their system to delete my old account details so that I could apply again. Their customer service team were very helpful on the phone.
 
LTV123 said:
In case of interest to others I had the 3 month deposit account with Advanzia at 3.97% that expires today & I didn’t receive any offer to extend.

I closed the account during the week by emailing them that request, confirming my registered account number to receive funds. I was then able to open another account at the 4.18% rate as a new customer again.

It took 48 hours for their system to delete my old account details so that I could apply again. Their customer service team were very helpful on the phone.
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I also have one that should have closed yesterday-ish. I expected to hear from them as to whether they were extending the rate, or what to do next but I guess it just drops to the low rate now. There's nothing on their fairly minimalistic account reports that tells me when the rate changes over. Anyway - did you have to start from scratch with proof of address etc with the same team that approved you 3 months ago? Seems a bit daft - extra work for both you and them, and the money moving home and away again! Now I have to decide between cheekily opening a "new" account with them, or off to BankInter for a year but then there's speculation about a possible half percentage point rise at the ECB in December... decisions, decisions.
 
dowtchaboy said:
did you have to start from scratch with proof of address etc with the same team that approved you 3 months ago
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Yes I did but that was all very fast. Bonkers alright but very happy to get the rate. I found a German chat forum discussing it.

However I made a mistake opening it before 1 Nov as if you open during the month you seem to get that month plus another 3 months.
 
LTV123 said:
Yes I did but that was all very fast. Bonkers alright but very happy to get the rate. I found a German chat forum discussing it.

However I made a mistake opening it before 1 Nov as if you open during the month you seem to get that month plus another 3 months.
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Interesting! That explains why nothing was appearing on my account details, which are pretty skimpy anyway, when the 3 months was up a week ago. They really want this kept tight - 1 and only 1 lodgement, leave us alone until the first of next month plus 3, we have a part-timer called Fred who comes in and updates the accounts manually once a month. Fred doesn't like computers or changes to routine, but he does like trains.
 
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