You need to catch up on your press releases this morning!The NTMA is now the laggard…
Here’s the presser -
Some fairly decent changes here - 2.5% for a one-year fixed term isn’t too bad.
Yep.'AIB is also increasing all AIB Fixed Term* deposit rates for Personal and Business customerswith its 2-year Term Deposit account increasing to 3%'
just to clarify ...is that 3% pa ?...
For 2yr term AiB out in front in terms of irish banks ...with 3% pa ..is it likely we will see competition from BoI or other irish banks anytime soon ...ie rates >3% pa for 2yr term?Here’s the presser -
Some fairly decent changes here - 2.5% for a one-year fixed term isn’t too bad.
the mind boggles. I had been wondering this, their press release had mentioned online opening, but was a bit vague.A heads up for anyone thinking of opening one of AIB’s accounts in joint names. Sole accounts can be opened on line but joint accounts require a visit to a branch.
So we called into our local AIB today where we already have joint current and other accounts, thinking we could open a 2 year fixed term account there and then. Not that simple, you must book an appointment and the next available appointment is in 3 weeks time.
Had we realised appointments take 3 weeks, we would not have transferred the funds yet, lesson learned.
Not the primary driver in this instance, just bad processes. Anything to do with joint accounts in AIB is manual. If you move house for example, both parties have to go to a branch in person to update addresses on a current account.then probably deliberately making it awkward to open new accounts just to put punters off
You cannot open a fixed term deposit account with AIB without first having a 'payment account' with them; either a current account or a demand deposit account.Anyone had other experience? maybe I am missing something. When I say 'online' I am referring to the phone app too.
- a new AIB customer (unless you want to open a current account first!), you must make an appointment
Yeah true, cannot open the demand deposit account online. So basically, if you are not already an AIB customer and want to open a deposit account, you have to make an appointment and start the process in person at the branchYou cannot open a fixed term deposit account with AIB without first having a 'payment account' with them; either a current account or a demand deposit account.
It's not just an online restriction.
I called to my local aib branch yesterday and asked the same question, " could I withdraw money if I needed it , in an emergency" I was told no, it was a Fixed Term deposit. Asked for terms ect. and was told if I waited another half hour someone more Senior would speak with me. I didnt have time to wait, but telephoned later in the afternoon and got a very vague answer. So I still do not know.Hi all,
I want to one of these fixed-term deposit account with AIB, but as I may be buying a house during the term, I want to be sure that I can access my funds if needed. On the webpage describing the account,
it alludes in a vague way to the possible of withdrawing funds early.
"You can let us know what you’d like to do with your money at maturity (when the term ends) when you open an account, or at any time during the term up to the business day before maturity. You can choose one of the following instructions:
Reinvest the full amount and the interest earned, or
Take out some of the money and reinvest the rest, or
Take out all the money and close the account"
So I called them up to clarify. Firstly, the AIB customer care person said I'd need to go to the branch in order to withdraw early. Then I asked can I withdraw funds, and can you provide some written statement on this. Then AIB customer care person then said flatly that you have to leave funds in for the full term. I asked for the T&A for the account and was told they couldn't provide this. Usually with Irish term deposits there is a possibility to withdraw funds with some sort of penalty clause. Has anyone managed to clarify this for the fixed-term deposit account with AIB?
Thanks
No, there isn't any longer for personal deposit accounts. They can't charge a penalty, so they don't allow early breakage except in exceptional circumstances.Usually with Irish term deposits there is a possibility to withdraw funds with some sort of penalty clause.
I suggested it, and I never said 'flexible'. What I actually said was (and its useful to read it in the context of where I said it)A poster here suggested, without any corroboration, that the banks will be flexible in hardship cases,
Yes, they and other banks do indeed have provision for early termination in 'hardship' on a case by case basis.
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