I reckon the other banks would love you to move deposit account to n26. Banks are awash with deposits and don't relish the 20bn coming from UlsterLooks like it's going to happen.
https://www.irishtimes.com/business...sh-market-after-more-than-160-years-1.4487912
I have a deposit account with them, but will move that assuming I have to. I think a lot of the online banks, N26, etc will probably pick up a fair bit. of business.
Saw that in the news today and thought it was surely illegal from a anti-competition POV.
The tracker rate is contractual. A sale doesn't change that (we've already seen thousands of tracker mortgages sold; Danske, BoSI, etc)How will tracker rates be dealt with if the loan book is sold?
Should people go to limit of their overdraft and stay there - get salary etc paid into another account?
Saw that in the news today and thought it was surely illegal from a anti-competition POV.
If AIB buy IB mortgages, this puts me in a position I do not want to be in, in that my current account would not be as separate from my mortgage account as I like.
To run up massive interest charges, and a terrible credit record, obviously...Why would someone do that?
What are the KBC doubts?Well I for one will miss Henry Hippo....Good memories.
It is a real shame to see this happen. Some great people working in Ulster Bank. Hopefully large chunks of it will be able to be sold off and as many jobs as possible saved. Good opportunity for Permanent TSB to become a serious competitor to AIB and BOI if they are allowed and able to take over part of it. With persistent doubts over KBC, we need a strong third banking player.
I would suggest looking at what happened with Danske Bank.Also wondering how the Offset/Current Ac mortgage will be dealt with as the reason it works is because it's linked to several of those accounts.
Why would having a current account and mortgage with the same bank be a problem? In many cases this is an advantage to you, e.g. KBC offer a discount of 0.2% on mortgage rates with a current account, AIB give fee free banking on the accountIf AIB buy IB mortgages, this puts me in a position I do not want to be in, in that my current account would not be as separate from my mortgage account as I like.
I may have to move my current account
Danske were able to do that because they kept a banking licence here for business / corporate banking. It's interesting that they waited 6 years before making an offer.Interesting! I wasn't aware of how Danske handled it, funny enough I had thought myself the likely way to do it was offer us something to go away! Rate is 1.15% over ECB
Danske didn't sell the offset mortgage book initially, and then at end of 2019 to hurry things up they offered a 30% discount to some customers to clear their offset mortgage. The discount reflected both the offset and the low teacher margin (as low as 0.5% in some cases).
For a sense of timescale - this offer was 6 years after Danske announced they were exiting!
There an exception to every rule!Not true of the whole book.
Jill Kirby on the radio said it's a problem.The tracker rate is contractual. A sale doesn't change that (we've already seen thousands of tracker mortgages sold; Danske, BoSI, etc)
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