Best for amounts from €1 to €20,000
[broken link removed]
3.75% up to €20,000
2.50% from €20,000 with no maximum
Interest paid annually.
Note: Interest rate includes a "bonus" of 1.25% that expires on 1 Jan 2011
Can I make Withdrawals?
Withdrawing your funds could not be easier. No notice is required so you can simply call into any of the Society’s branch or agent offices, present your account passbook and make your withdrawal. Restrictions will apply for cash amounts over €2,000.00 required on demand and a minimum amount of €5,000.00 is required for electronic transfers. This account does not offer the facility to set up standing orders or direct debits.
The Society does not provide an internet banking facility at present. In order to withdraw funds from an account you should visit one of the Society's branch offices, however there is an option to request withdrawals by electronic transfer, the minimum transfer amount is €5,000.
The Society intends to introduce an internet banking facility at some point in the future.
So this means that to get my e20k back quickly from Irish Nationwide Building Society I would have to collect e2k cash every day for 10 consecutive days from their local office or order them to transfer to my normal bank current a/c e5k from their a/c for 4 consecutive days electronically(I presume thats what you mean by electronic means)?
Also if the interest is only paid annually you cannot close the a/c and take your interest for the shorter period if you decide to withdraw your e20k deposit earlier...the interest will only be credited to your a/c with Irish Nationwide for collection by the depositor after 12 months.
How can they pay 3.75% AER when the Bank of Ireland can only pay 0.10% AER for ON DEMAND deposits?
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