AIB paying 1.00% for Regular Saver Product

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Effective 21 February 2023 AIB are increasing their deposit rates.

Regular Saver: 1% up to €1,000 per month for the first 12 months.

Some small increases in other deposit rates too. Full list of changes here.
 
I was informed by an AIB staff member in a branch yesterday that one needs a AIB current account to open the Regular Saver. I wonder is this correct?
 
Pmc365 said:
I was informed by an AIB staff member in a branch yesterday that one needs a AIB current account to open the Regular Saver. I wonder is this correct?
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Yes. This is due to bad system design. You need to use a atm/debit card for 2FA for the savings account and savings accounts do not have cards! You can just leave the current account there with zero funds in it, they claim ( I have it in writing) it will not become dormant and have charges/fees.
 
Hi all, I opened one of these accounts today, I just have a query, I lodged €1000 into the account today - in order to receive the online regular saver interest rate of 1% (with effect from next week), I cannot make another lodgement of €1000 to this account until the 17th of March, is that correct ?
 
Audi_Driver said:
Hi all, I opened one of these accounts today, I just have a query, I lodged €1000 into the account today - in order to receive the online regular saver interest rate of 1% (with effect from next week), I cannot make another lodgement of €1000 to this account until the 17th of March, is that correct ?
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The terms and conditions of the account should clarify.
 
That is my interpretation of them anyways
 

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Perhaps someone may be able to clarify, maybe it might be ok to lodge another €1000 on 01/03/2023
 
RedOnion said:
You can lodge as much as you want whenever you want (up to 1m euro). The amount earning the higher rate will increase each month.
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Yes so in theory you can lodge €12,000 on day 1 (to get the best out of this account ) and withdraw a year later- which would be the same thing as drip feeding in €1000 every month
 
If your €12,000 is available to remain invested for longer than 12 months, then the BOI Goalsaver is a better option, even though the headline rate is lower. This is because at the end of the year your balance (up to €15,000) continues to earn interest at the full rate. And if you have another €15,000 you can open a second Goalsaver account. But given current rates, you'd wonder if these accounts are worth the time and the faff they involve. Raisin might be a better option.
 
My emergency fund, which happens to be €12k, is already in an AIB Online Saver account.

Is it safe to assume the interest will go up automatically on it without me doing anything? I suppose I'll find out in a few days.

Can I open additional accounts and avail of the increase?
 
€ 1.50 a week after DIRT - oops, no!
It's a regular savings account, so probably only € 0.75 a week over the 12 months
 
Freelance said:
If your €12,000 is available to remain invested for longer than 12 months, then the BOI Goalsaver is a better option, even though the headline rate is lower. This is because at the end of the year your balance (up to €15,000) continues to earn interest at the full rate. And if you have another €15,000 you can open a second Goalsaver account. But given current rates, you'd wonder if these accounts are worth the time and the faff they involve. Raisin might be a better option.
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I wouldn't recommend BOI Goalsaver. It was a disaster trying to open. Firstly staff were quite ignorant when I tried to open in-branch and ordered me out the door ( eventhough I was told no appointment necessary). I already have a demand deposit account with the bank. Tried to open online and Submitted all documents online. Then a few days later received a call from my branch saying I needed to produce id and proof of address in the branch ( despite having already forwarded online) then when I called in branch lady who summoned me by phone couldn't be found and told would have to call back. Then they asked source of funds which I explained. Then they said they wanted proof of source of funds. I was amazed at this as 1. I only committed to saving €200 per month and 2. I have zero on deposit with them. The only account I have with them has been consistently receiving rental income from my tenants for 20 yesrs which I transfer out and fully declare to Revenue. I used to have my current account with them but left 2 years ago when hiked fees. The bank have gone down in my estimation. Whilst I understand money laundering requirements I thought they were unnecessarily stringent in requesting proof of source of funds to open goalsaver so I just decided not to go ahead. I read somewhere else it's unusual to request proof of source of funds. Its not as if I had a large deposit with them. Its becoming quite unpleasant having any dealings in a bank these days. Years ago we knew all the bankers by name and one felt very welcome. I foresee all branches closing in the future.
 
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