Anglo or EBS

[Radiowriter]

Hi,

I have €5,000 to drip feed into a savings account. I plan to feed €1,000 for the first 5 months then between €200-€300 every month.

Looking at the web sites I'm not sure whether to go Anglo or EBS. BOSI and AIB have a more restrictions so not interested.

Any idea on which one would be better.

Thanks.

 

[Starting Out]

Anglo do not require you to setup a direct debit if you prefer more freedom around when you lodge money into this account. They do not allow withdrawls however. If a withdrawl is made it effectively closes the account.

EBS allow up to 2 withdrawls a year I think but you must setup a direct debit.

I prefer initiating the transfers myself but you may prefer to setup and leave to manage itself.

 

[ClubMan]

EBS allow up to 2 withdrawls a year I think but you must setup a direct debit.

EBS have no restrictions on access as far as I know. Their regular saver seems to have the most flexible terms & conditions governing access and varying contribitions (within the constraints of having to vary the DD). You need to consider what rate guarantees the different products offer and the other terms & conditions applicable.

 

[Radiowriter]

Thanks guys-quick response!

I'm erring on the EBS side for the reasons mentioned and the fact that EBS are +3% above ECB until April 08 which looks like a better offering.

 

[igloo]

For maximum lodgement to EBS, you cannot lodge €2,000 to a regular savings account even if it is a joint account. What you can do is open two joint accounts - one which you are first named on and one which you are second named on and pay in the maximum contribution of €1,000.