EBS regular saver a/c....7%

F

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Hi All,

Has anyone got any information/opinions on the EBS regular saver account? they are offering 7% up to April 2008 but I can't find any information on things like: when interest is applied, withdrawl penalties, etc.

I couldn't find much on their website but maybe I am just a bit blind:eek: so any information would be appreciated.

Thanks
 
I just opened one of these. Couldn't find the T&Cs on their website either, forgot to ask for them in the branch, I presume a copy will come in the post but it is a bit strange alright.
 
I went to the local EBS office to-day and requested their information leaflet on the regular saver a/c. Leaflet full of positive information but pity they don't print terms and conditions. At face value it looks good, minimum of 3% over ECB until 1/4/2008 and after that the rate will not be less than ECB rate until 30/4/2010. Save from €20 to €1000 per month, lodgements by direct debit, instant access. If you need to know more it appears you must call into your local branch or phone 1850 203636.
 
EBS said:
Terms and conditions apply.

To open a Regular Savings account you must be resident in the Republic of Ireland and over 18 years of age.

*Current variable rate is 7.00% CAR based on ECB rate as at 06/06/2007.

A variable interest rate of 3% over ECB rate applies until 01/04/2008. Thereafter a minimum of ECB will be available until 30/04/2010.

Interest is subject to DIRT (current rate is 20%).

Lodgements may only be made by direct debit.

Minimum monthly direct debit lodgement is €20.

Maximum monthly direct debit lodgement is €1,000.

Information correct as at 08/05/2007.
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At first glance, the positives highlighted by the EBS are fairly attractive and compare well with Hallifax, AIB & Anglo's 7% accounts.

Anyone know:

- How many withdrawls per year without penalty ?

- How many times per year can you increase / decrease the d/d ?

- Will we have full access via their (somewhat limited) online banking facilities ?

Many thanks

G>
 
Can you make the direct debit from one EBS account to another ?
 
sign said:
Can you make the direct debit from one EBS account to another ?
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Yes, just set one up yesterday, it takes 15 working days to get the account up and going and direct debit can be from any bank or indeed another EBS Account.

Withdrawals are on demand and you can adjust your direct debit amount by letter or by going in to EBS and signing a new Direct Debit mandate if the transfer is being made from your other EBS Account, I got the impression from the staff member that this is flexible and can be changed a number of times if necessary once amounts are kept within the €20 - €1,000 monthly limit.
 
Hi

Thanks for the info, all sounds positive. I wonder why they don't have the full terms & conditions available in print, no offense but I really would like to have it in print before signing up (same for any account btw, not just this EBS one)

I think I'll give them a shout sometime next week.

Would also like to know:

- Whats the story if you have to take a payment holiday for some unforseen reason (are there penalties, can you re-commence etc) ?

- Does it give you full access to the account online, or just the balance as it did (badly !) with the SSIA accounts ?


Thanks

G>
 
Hi

Yeah I know it's not best practice not to read T&Cs but I was happy to take the account at face value as it's obviously along the same lines as the competing products.

However it does seem a little strange that the T&Cs don't seem to be anywhere. I just rang that number and was told that if I want to see T&Cs they are in the brochure and I should pop into a branch. However oldtime says
Leaflet full of positive information but pity they don't print terms and conditions.
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Strange. I'll see what I get in the post.

A
 
I must say I'm rather in the same boat. I opened accounts in my own and my wife's name, set up the DDs from our current a/c elsewhere, have received confirmation of these and of our registration for online banking... but still no further statement of the account T&Cs than the little leaflet mentioned above.

As for the access via online banking, it's a bit of a joke, as Garrettod points out. I can see the balance on the accounts (currently €0.00, as the first DD hasn't arrived yet) but ...'View Transaction Is Not Allowed For This Account Type' (sic).

As my kids would say, like, hellooo? :confused:
 
I received my confirmation of direct debit as well. I think I will ring the branch and just ask them to send me the T&Cs.
 
DrMoriarty said:
As for the access via online banking, it's a bit of a joke, as Garrettod points out. I can see the balance on the accounts (currently €0.00, as the first DD hasn't arrived yet) but ...'View Transaction Is Not Allowed For This Account Type' (sic).
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That (and request an interest cert perhaps?) is all that I was ever able to with EBS My Accounts Online with my SSIA and other Summit investments. It's an online balance checker nothing else... :(
 
ClubMan said:
That (and request an interest cert perhaps?) is all that I was ever able to with EBS My Accounts Online with my SSIA and other Summit investments. It's an online balance checker nothing else... :(
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A real shame ....

I can't see what they have to hide etc, nor can I see how they might be using different computer systems which can't talk to each other .... eh, at very least for the new account & savings accounts etc (whatever about perhaps the summit funds) ?


Strange as it may seem, the literature they gave to one of my friends when requested via post, advertises a rate of 6.75% not 7% !
 
Not sure why you assume that they are hiding something as opposed to simply not investing in their customer facing IT systems or some other less sinister explanation?
 
Clubman

For your clarity, I have not assumed this ... just threw it in as one possibility, I did also say "etc" after the first part of my post .... also suggested perhaps the use of different systems etc.

Hope this clears things up for you :)

Regards

G>
 
Seems odd to just mention one, seemingly sinister, possible explanation though. That's all...
 
I also have one of these EBS regular savings accounts opened. When the account was being described to me in branch I was given the impression that there were no limits on the amount of changes that could be made to the direct debit. However after realising I did not see this explicity stated anywhere I decided to e-mail their online support group.

They let me know that there are no restrictions on making withdrawls from this account (similar to AIB's account) but you can only make 2 changes to the direct debit per year.
 
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