ECB rate increase of 0.25%?

G

Godfather

Registered User
Messages
602
Hi everyone,

I heard ECB increased the rate to 4%, so what's happening to all the ECB-linked regular savings and lump sum accounts? If I look at the great post of CCOVICH I don't see that the banks have updated their rates yet. What's your opinion pls?

In other words... Am I so anxious that I expect immediate change or does it take a few days?

Thank you everyone
 
Re: ECB rate increased of 0.25%?

Give the banks a few days to update their rates, then the websites, leaflets, etc.
 
Re: ECB rate increased of 0.25%?

Godfather said:
If I look at the great post of CCOVICH I don't see that the banks have updated their rates yet.
Click to expand...

To be fair, most of the work has been done by MugsGame at this stage, and he will be updating the thread in the next week or so as far as I know.

In the meantime, the links should still work.
 
Re: ECB rate increased of 0.25%?

The ECB announce an increase about a week before it takes effect. I'm waiting until then to update the accounts that offer rate guarantees. Hopefully by then the non-ECB tracking accounts will have announced their rises (NR have already.). It would be misleading to update the tracker accounts before this information is widely available. I could get this information by ringing the banks, but I prefer to wait until it's in writing.
 
Re: ECB rate increased of 0.25%?

Anglo have just put up the new rates on the web: 4.0%, 4.10% and 4.50% for the on demand, 7 day and 30 day notice a/cs.
 
Re: ECB rate increased of 0.25%?

Anyone notice Ulster Bank didn't pass on the full .25% to it's ufirst savings a/c...cheeky gits...will be moving a/c in October tho...
 
What rate are they paying? If not what others are paying then why wait until October to move?
 
Ah they only pay interest yearly in October so will wait for that.
The rate was 3.75% before the increase now its 3.85%....!!!
 
Are you sure that you cannot withdraw before the year is up and be credited with interest accrued to date at the normal rate? Or are there penalties for withdrawing before this anniversary? I know that with NR you can opt for their annual rate (0.25% better than their monthly rate) and even if you withdraw money or close the account before a full year is up you get the full interest accrued at the annual rate.
 
Yeah must look into that all right, was just waiting till October but if they'll pay interest up to the point I move that would be great. I'll give them a shout about it.
 
Thank you everyone who replied to my queries... What a great forum!!! (pls see my other topic "Hymn to the forum")
 
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