LongTimeLurker
Registered User
- Messages
- 5
Thanks, @Sue Ellen. I'll give them a call.
1 NoI’m thinking of closing my Ulster and KBC savings accounts soon and transferring them to State Savings deposit. I have a couple of similar questions
1. Can I do bank transfers in to the account?
2. Can I do bank transfers out of the account? Not online obviously but with a form in person for example. Or do they give you a bank draft? The notice of withdrawal doesn’t say
3. If a lodgement is made will i get a letter or how would I check on it?
1 No
2 No. You send the withdrawal form off to the GPO and they send you back a cheque.
3 No letter. Your passbook (remember those) is updated at the time the lodgement is accepted
In response to the OP, they will accept cheques. (Or at least the have accepted them for me in the past)
The maximum "On Demand" withdrawal is €3,000. Any more than that requires 7 days notice or the withdrawal form to be sent off to the GPO.
The operation of these accounts is basic and very primitive. There is no online access whatsoever. They suit a few niche markets (people with large sums who want the money available at short notice and who want the state guarantee for the full amount (beyond the €100k DGS limit), pensioners who collect the state pension in the post office and use one of these accounts to lodge any surplus, a home for a rainy day lump sum, etc. They are unlikely to be of interest to anybody with a busy life and more than a very small number of occasional transactions.
1. Can I do bank transfers in to the account?
State Savings Prize bonds can be purchased via direct card.
Not a deposit account per se but many people use it as a defacto deposit account.
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