EBS regular saver account interest rate deduction

D

dublinhead

Registered User
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57
Just a heads up. Look like the rate dropped as 1st June. I will be closing this account today.

[broken link removed] (Discuss)
4.50% (>= ECB+3.25%) until 1 Jun 2009
1% (ECB) until 30 Apr 2010.
Regular lodgements required (direct debit only): Minimum €20 a month; Maximum €1000.
 
Not so fast! They say:

*Rate promise: The rate will be a minimum of 3.25% over European Central Bank (ECB) until 01/06/2009, thereafter the rate will not be less than ECB rate until the 30th of April 2010

Granted ,the guarantee of of ECB+3.25% has expired but that does not necessarily mean that the rate has dropped to ECB + 0%. The rate could be anything. All they have done is remove the guarantee, as it hs expired. For all you know the rate could be 11%!. Their website still quotes a rate of 5.25%. Check what the actual rate is before rushing off to close the account.
 
Just checked my account and the rate has been reduced to 1% time for a move
 
I rang them, the rate has reduced to the Ecb rate 1%. When closing the account I was given a check, which meant another trip to a bank to lodge it. They had no facility for electronic transfer. Bit backward this day and age.
 
There is conflicting reports here:
The rate on the EBS website says 5.25%, (almost certainly wrong)
The Financial Regulator says it is 4.25% (Who have a 48 hour obligation to updated rates)
There are reports here that it is 1.00% (As per the conditions on the account).

I assume EBS are just slow at updating their website and informing the Financial Regulator.
 
Hey,

Not sure but the link might be an old one on the thread for the regular savings account for EBS. I was surfing their web and cant find that page at all, couldnt see it even by searching on the search box, unless I missed something

In their rates link thay quote the rate as 1% and its now saying 1% on itsyourmoney website
 
[broken link removed]

direct from their website

on the right click rates, then you will see a link for the account.
 
Yeah, everyone seems to have now updated their rates.

The best buys thread has been updated.
 
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