Deposit Issues

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DublinAnthony45

Registered User
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are most people with lets say ( €100,000 ) just moving banks every few months to save a small %

i joined Bunq because of 3.01 % and in January 2027 the rates will change ( more than likely downwards ) are people in this position just then lumping it all into the next bank who are offering better rate for 3/6 months and so on etc ?
 
Yes, if it's easy, moved from Trading212 to Robinhood recently, I then just download statements of earnings from the previous bank so I can make the required tax return. I've done it between maybe 4-5 banks.
 
On a 100k (I wouldn't keep that much on deposit) half a percent would be €333 after DIRT, enough not to leave it on the floor. People often change insurers and energy suppliers for less.
 
i'm getting 3.01 till end of Dec on €100k , then will review where to move then or keep depending on rate

so €3010 gross per year or €2016 nett
 
balders93 said:
On a 100k (I wouldn't keep that much on deposit) half a percent would be €333 after DIRT, enough not to leave it on the floor. People often change insurers and energy suppliers for less.
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This. It is probably easier to move money from one bank to another than it is to cancel utilites/insurance. I have dealt with Virgin Media cancelations too many times. I would rather open a new bank account than deal with them.
 
I have also thought about potentially trying a different approach with Raisin. Instead of constantly chasing the highest demand deposit instant access interest rates, I might instead look to a term deposit laddering approach across the 3,6,9 & 12 month terms. This way would possibly secure a better overall return and less administrative requirements whilst still maintaining relatively quick access to funds if required. I know this deposit staircase/ladder approach is normally done across 1,2,3,4 & 5 year terms but I preferred a shorter ladder in case funds might be needed for a house deposit should the right opportunity arise.
 
I do the same Unpaid -- the no extra paperwork with raisin no maatter how manyaccounts with different banks you open makes it a doddle and a real advantage of the platform imo. I always have something expiring every 3-4 months in case I need cash
 
Could I ask a question of the more experienced here? Is it possible to move funds from say Raisin directly to say BankInter rather than repatriate them back to Ireland before sending them out a couple of days later? Would be more efficient, though in some ways it would be comforting to see the funds safely back home if only for a day!
 
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