EBS Regular Saver V First Active Regular Saver

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maura

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I have a choice of opening either an EBS regular saver or a First Active regular saver. On the face of it First Active looks like a better interest rate 7.15% CAR compared to EBS 7.0% EAR?? however EBS have different guarantees relating to interest rates and the ECB rate. Which would you choose?? and why??
 
I'm going to open a FA account based on convenience. Amounts paid in can be changed by amending the standing order, which I can do online. Withdrawals can be done via online banking. No rate guarantee AFAIK, but I'm still going to go ahead with it.
 
Thanks shanegl, very good points. With the EBS you pay in via direct debit which would be harder to amend than a standing order.
 
Is it possible to get online banking for withdrawals if you only have one savings account with First Active?
I opened up my FA regular saver account, I was also thinking of opening a lump sum eSavings account with them to put in some of my SSIA savings and then transferring the money via standing order to the FA savings account. But it looks like a standing order from the eSavings is not possible, so I leave it in my ex-SSIA account and create a standing order from there, better than from my current account (0% interest).

Fanny
 
Already found the answer in T&C. Looks like I can watch the sum grow online, but I cannot move money to other accounts. The only way is to get a bank card (pay ATM tax) or get a cheque at the branch. Let's hope we won't get a Northern Rock scenario, having toi queue up at the branch to get your money out. How much would an ATM card cost me in this case?
Fanny
 
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