should i move from first active

D

dbrady01

Registered User
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Hi all

I have about 5k savings in first active at the moment and adding around 500 per month. In light of the recent ulster bank-first active thing do people think i am better off moving the money into a credit union account ( i dont have any other bank account ). I have been told that i will be moved to ulster bank some thime this year and i know i am not going to lose my saving or anything like that i am just womdering were the best place is for it. I know 5k is not a huge amount to most but its quite important to me :)
 
Hi

I have some savings in First Active too and I am wondering the same thing. We have been told that when the two banks merge, FA accounts will be automatically tranfered to the Ulster bank, but as far as I know Ulster bank don't offer the same products as First Active. Does anyone know how is this going to work?

I have called FA and Ulster Bank customer service a few times but the people in the call center have no idea.

Thanks
 
i would wait for the merger and see what happens then. i bank with ub and fa. ub is a very good bank imo. i have been with them for years and have never had any problems. i guess ub would offer better rates than the cu. i don't have savings with ub but i do have 2 current accounts with them. a quick look at their website will allow you to compare rates with the cu. by the way, i am furious to see the brand name "first active" go. i think it's wrong. first active should remain. i mean it was first national and it dates back to the mid 1800's from what i have heard. disgraceful.
 
I have a First Active account as well. I am going to wait to see what pans out as I believe the FA accounts will become Ulster Bank accounts automatically.
 
Yes I guess it will be best to wait and see what happens, and maybe give Ulster bank a try. I suppose they'll keep us informed of any changes during the transition process.

I'm sad to see First Active dissapear too, I was very happy with them.
 
the only difference you will see is the headed paper change from fa to ub,
everything else will be run the same, you will keep your products, and instead of fa branches you will have to go to ub branches.
all the products currently offered by fa and ub are processed on the same systems, so at source end nothing is changing
 
rameire said:
the only difference you will see is the headed paper change from fa to ub,
everything else will be run the same, you will keep your products, and instead of fa branches you will have to go to ub branches.
all the products currently offered by fa and ub are processed on the same systems, so at source end nothing is changing
Click to expand...


Do you know that as a fact, or is it your guess? :confused: I e-mailed FA asking about this and here is the reply I've received ( bold is mine) :


From: ~ Ulster Bank Belfast CSC - Concerns and Queries
Sent: 29 January 2009 09:11
To: ~ First Active Information
Subject: RE: General query

Hi XXX

Your product will remain the same until the merger take place, any changes would be notified to you well in advance.

Many thanks
Judith Lightbody


I'm going to start looking around just in case.
 
After the merger, I would say your product will be moved to UB's nearest equivalent.

Interestingly, it appears UB's regular saver a/c went up from 4.25% to 4.75%, perhaps the precursor to moving all of FA's 5.4% customers to this.

Personally I wouldnt like this to happen as UB's offer is inferior: it's 0.65% lower & you can only save a max of 500/month, compared to 1000 in FA.
 
rameire said:
all the products currently offered by fa and ub are processed on the same systems, so at source end nothing is changing
Click to expand...
yes Rameire - systems are same (if not one already)and products are almost identical (both have the esavings and esavings plus)...
 
camelin said:
Do you know that as a fact, or is it your guess? :confused: I e-mailed FA asking about this and here is the reply I've received ( bold is mine) :


From: ~ Ulster Bank Belfast CSC - Concerns and Queries
Sent: 29 January 2009 09:11
To: ~ First Active Information
Subject: RE: General query

Hi XXX

Your product will remain the same until the merger take place, any changes would be notified to you well in advance.

Many thanks
Judith Lightbody


I'm going to start looking around just in case.
Click to expand...

lets just say its not a guess
 
rameire said:
lets just say its not a guess
Click to expand...

So if it is not a guess, that presupposes that you have some inside knowledge of First Active/RBS and/or Ulster Bank, despite your denials here in the past.

Also, I happen to take a look at Boards.ie now and again, and you do a lot of posting there about Leopardstown, where FA have their Head Office.

You also seem to have an in-depth knowledge of the systems being used by both FA and FA, and you frequently come to the defence of FA/UB whenever there is criticism here of those institutions.

I think it is only right that people should declare their position, so everyone will know where they are coming from when posting.
 
How will UB fare now that Dunne was refused planning permission today. They have quite an exposure here and with RBS looking at their Irish operation and already having pulled FA could they do the same with UB?
 
its a big hit to ub, but the project was a complete white elephant. and as most banks did, they threw good money at bad ideas.
one thing coming from the joining of ub and fa (although should have done years ago) could be that they are trying to package it up into a nicer bundle to sell off, as it might be more attractive as one business and one brand instead of one business with two brands.
 
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