Rabo leaving it late....to announce new rate

J

Jethro Tull

Registered User
Messages
262
Just mailed rabo about their interest rates post 31/12/07. I got the following reply:

Dear Mr. xxxxxx,
At present a new rate of interest for 2008 has not yet been announced. Our current interest rates are as follows; 5% on amounts up to €10,000.00 and 3.75% for any balance up to €1 million. Any changes in rates will be announced before December 31st.
If you have any other queries, give us a call on 1850 88 22 44 (or from abroad +353 1 6599731). Our fax number is +353 1 6599760. We’re open from 8am – 8pm Monday to Friday. Our freepost address is: Rabodirect, Freepost F4006, PO Box 10152, Dublin 1.
Kind regards,
xxxxx xxxxxx
Customer Contact Centre

They're leaving it late to 'decide', its the 18th of December now. Surely they're budget and planning for 2008 is long done and dusted?
 
Re: Rabo leaving it late....

You could always move it into their 1 month term deposit at 4.6% gross CAR if you are worried about the currently imminent drop from 5% to 3.75% or if/when that takes effect on January 1st. I think you can do it all online?
 
Re: Rabo leaving it late....

Not that I'm worried really (I'll move my funds elsewhere if I can get a better deal, I owe no bank any loyalty) just that I think its ridiculous that they STILL haven't announced whats gonna happen. despite the fact there aren't many working days left before the new year.
 
Re: Rabo leaving it late....

Yes, they need to make up their mind soon. I'll be transferring my full balance to First Active by EFT on 28 December if it is not announced by then.
No reason why anyone should have money on deposit at ECB - 0.25% in the current competitive market.
 
Re: Rabo leaving it late....

how do you transfer by eft from rabo to first active,..do yo uhave to have somethgin set up on the rabop site or is the facility there and you just have to click on it?

i know the first step would be opening up an account in first active. how long have they said their rate will apply?

thanks
 
Re: Rabo leaving it late....

FA's E Saver is paying 5.22% on balances up to 15000.
That is already higher than Rabo's 5% - and Rabo only pay that on balances up to 10000.

Of course, there is a danger that if Rabo drop their rate FA will follow.

You should be able to set up a payee on the Rabo website, entering your FA account details. I must remember to do this soon in case there are any hitches nearer the time.
 
Re: Rabo leaving it late....

i have spent the past 15mins on the first active site - hmmmmm,.....i am going to go to a branch to open up an a/c. less hasel i think.

i agree, 5.22 wins out anyway. Laziness is the only thing stopping me sortign it out, i am all enthused, tomorrow it begins, why be on the hook to rabo all the time, the op is right,..this tardiness by rabo shows a bit of a disregard for its customers,..i think i'll switch anyway.
 
Re: Rabo leaving it late....

My guess is that Rabo will leave their rate at 5% until March at least. If you think of it for the past 1-2 years the ecb was heading in only one direction and that was up and the Rabo savings rate has followed. Things are a little unsure now. Some so-called experts are saying it will go up early next year and some are saying it will go down. This uncertainty is what I think is causing Rabo to show their cards late. Why not wait till the 1st Jan. and see.
 
Re: Rabo leaving it late....

1 Month Term deposit has dropped to 4.35%. Surely answers the question?

[broken link removed]
 
Re: Rabo leaving it late....

ClubMan said:
Not according to their website - it will fall to 3.75% unless they announce something soon.
Click to expand...

I appreciate that Clubman. Imagine if everyones savings did drop to 3.75%. It would be suicide for Rabo wouldnt it?
 
Re: Rabo leaving it late....

ClubMan said:
You could always move it into their 1 month term deposit at 4.6% gross CAR if you are worried about the currently imminent drop from 5% to 3.75% or if/when that takes effect on January 1st. I think you can do it all online?
Click to expand...

Jethro Tull said:
1 Month Term deposit has dropped to 4.35%. Surely answers the question?

[broken link removed]
Click to expand...
I thought that they were offering 4.6% yesterday! Maybe I misread it.
 
Re: Rabo leaving it late....

Lossy said:
I appreciate that Clubman. Imagine if everyones savings did drop to 3.75%. It would be suicide for Rabo wouldnt it?
Click to expand...
Not necessarily - inertia and all that...
sunnyside said:
i have spent the past 15mins on the first active site - hmmmmm,.....i am going to go to a branch to open up an a/c. less hasel i think.

i agree, 5.22 wins out anyway. Laziness is the only thing stopping me sortign it out, i am all enthused, tomorrow it begins, why be on the hook to rabo all the time, the op is right,..this tardiness by rabo shows a bit of a disregard for its customers,..i think i'll switch anyway.
Click to expand...
 
Re: Rabo leaving it late....

Btw on the best buys forum, to open the FA e-saver the advice was to open any FA product in branch then open the e-saver. Is it haslle to open a current account? Do they just require the usual proof of address and copy of passport etc? I would mail them but i have done so on a few occasions over the last 6 months or so and not recieved one reply.
 
Re: Rabo leaving it late....

I opened the eSaver by online/post without opening any other FA account.
 
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