Rabo Ignoring ECB Rate Increase ???

[marksa]

Eased, yes. Gone away, no. 9 billion EUR was taken out of Irish banks in June 2011, not a small figure in an Irish context. The pre-amble to bailout II or the implosion of Spain could quickly change that.

7.50bn was taken out my rest of the world resident, so 1.5bn from euro zone, or Irish resident is a relatively small drop in the deposit book

 

[Troy McClure]

Was told by rabo rep that rate is increasing monday by .15% to 2.4% from Monday. So they are holding back on .1% for themselves.
When challenged on this the robot on the other side of the phone read from whatever material that was in front of her explaining thats it's not a tracker rate and there was no imperative to pass anything on. There was little sympathy for any argument of principal in the matter, but she did explain Rabo's AAA rati.... yadayadayada..
Time for other options me thinks as the 'nice' bank are really not so nice. I am turning to CiaranT's point of view on this.

 

[Lightning]

Thanks for the information Troy and fair play to you for putting pressure on 'honest' RaboDirect to pass on the rate increase. It is a shame that they are creaming some of the ECB rate increase for themselves and not passing on any of the rate increase for their AccBank customers.