Retail deposit rates unavailable to ARF holders?

D

dovest

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I have about €30k cash in my ARF account. It is on deposit with one of the Irish banks and earns less than 1% interest.
I understand that AIB and PTSB both offer 3% p.a. on Fixed Term deposits, but my pension provider has informed me that neither bank will offer 3% for funds deposited by an ARF and will only offer me a 1.25% interest rate. Anybody know why they discriminate against ARF's?

Can anybody suggest an Irish bank which will pay a higher rate for ARF funds on Fixed Term?
 
9 grounds of discrimination in Ireland. Pretty sure this is not one of them.
 
Can you put the cash into a pension company cash fund? Or a money market fund if you've access to general investment funds.

Pension cash funds seem to be doing reasonably ok at the moment 3-4% returns and you won't need to lock it up for a year. What would the management fee be if you did put into AIB/PTSB cash - you're offered 1.25% return - that's presumably before the fees the ARF provider charges.

Chances are if one Irish bank is penalizing ARFs they all are.
 
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