Bank of Ireland Now Paying 2.5% for Children's Savings Account - max €5,000

Banks are great at informing customers of changes. Both of my kids have young savers accounts. I received a letter for each account on 3rd September detailing the rules around the €5000 limit and the 2.5% and 0.25% rates. No mention of the changes coming into effect in November, which make this information irrelevant as far as I can see.
 
Banks are great at informing customers of changes. Both of my kids have young savers accounts. I received a letter for each account on 3rd September detailing the rules around the €5000 limit and the 2.5% and 0.25% rates. No mention of the changes coming into effect in November, which make this information irrelevant as far as I can see.

Completely agree. I only opened youth saver accounts a few weeks ago for my kids under the impression that the bonus rate of 2.5% was staying in place. Information given was very misleading.
 
Did you turn over the page?
I too received two letters dated 03 September. On the first page it indicated that some information had previously not been clear. And this was then clarified.
Then, on the second page, following the apology the new interest rates were detailed, stating these would take effect as of 13th November.
To my eyes, this could not have been made clearer.
 

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Did you turn over the page?
I too received two letters dated 03 September. On the first page it indicated that some information had previously not been clear. And this was then clarified.
Then, on the second page, following the apology the new interest rates were detailed, stating these would take effect as of 13th November.
To my eyes, this could not have been made clearer.
You are absolutely right. I stupidly assumed they had delivered the message on the first page. I like the end of the letter where it says "You don't need to do anything". Well, apart from look for a better place to put the account balance maybe :)
 
Where did you hear that? I was just about to open with them, but no way will I bother if they are reducing this to 1%
Post #20:
 
Where did you hear that? I was just about to open with them, but no way will I bother if they are reducing this to 1%
Just checked my post. I got a letter confirming this.
 

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Was also planning to open an EBS account when it was at 1.75%. Hardly worth it now. Seems the only way to get any half decent yield now would be through some sort of investment fund.
 
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