BOI Supersaver Account

@Freelance @ClubMan I disagree you are not leaving 30k aside for 12 months

if you average adding 2.5k over 12 months its 15k sitting in the account for 12 months which you get 3% on

its the most competitive rate for a regular saver or someone adding up to 2.5k very month

you should need to earn to understand the limitation and not think its 30k @3% when you dont have 30k in the account for 12 months
 
irishfinanceguy said:
I disagree you are not leaving 30k aside for 12 months
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Read what I posted. I didn’t say it was leaving 30k aside for 12 months

irishfinanceguy said:
if you average adding 2.5k over 12 months its 15k sitting in the account for 12 months which you get 3% on
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And €15k sitting outside the account and not earning 3%

Again, the point is that as a regular saver account for one of those few people who has both the surplus after tax income and the appetite to put €2,500 per month in a deposit account there is nothing wrong with this product. There is a small benefit to be had by availing of it. As a place to drip feed a capital sum of €30k it’s scarcely worth the bother.
 
I like the idea that it pays 2% after the first year on the (or up to) 30k you have in it. This is quite competitive for instant access but will probably change soon.
 
Seeing mention of the possibility to utilise 2 accounts, how would one go about this? Looking into loading up 20k asap (4 months) and then a monthly lower amount. Is it possible to ammend the 2.5k monthly debit to a lower about at a later stage?
 
Thanks for clarifying wasn't sure if there was a trick to it or having to go around some BoI limitation.

Would you be able to advise regarding lowering the monthly debit once the 20k is in after 4 months?
 
Willbo said:
Would you be able to advise regarding lowering the monthly debit once the 20k is in after 4 months?
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You can reduce the monthly payment any time to the minimum €5 p.m. All the details that you need are in the product information that I linked to above.
 
Willbo said:
Would you be able to advise regarding lowering the monthly debit once the 20k is in after 4 months?
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It might depend on whether you have a BOI current account. I don't, and will have to go in person to the branch to amend my monthly sum, even though I have the BOI app (for Aer card purposes).
 
Not what you asked.. but one month I forgot to put the savings amount on time into the reference account for direct debits. When they attempted to take money as it wasn't there they couldn't take it. Nothing happened except that I lost the chance of moving money into account that month. I have to do everything by phone as no BOI account.
 
ACER10 said:
Not what you asked.. but one month I forgot to put the savings amount on time into the reference account for direct debits. When they attempted to take money as it wasn't there they couldn't take it. Nothing happened except that I lost the chance of moving money into account that month. I have to do everything by phone as no BOI account.
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Thanks for the heads up. Seems like there is no option for manual transfer so will have to load up the 2x 2.5k monthly for first 4 months and then amend the direct debit to a lower amount.

I have an account with BoI and honestly the app/application proccess has been abysmal. Just now received a text message with an IBAN with no further information regarding what its about. I beleive it to be for the Supersaver but is just a glaring banking security/transparency issue.
 
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