State savings have no online facility

nephster

Registered User
Messages
67
Hi folks, have jumped through the hoops to purchase a small amount of Prize Bonds, in order to set up the State Savings Online facility and hence purchase more at leisure. Now I have my account set up, but before I buy more... can anyone who has held Prize Bonds for a while (mine are too new to see any cash out options) confirm these can be cashed out to your bank account via an online instruction and electronic transfer? The FAQs are not updated to reflect the new facility, perhaps.
 

Paul O Mahoney

Registered User
Messages
1,856
Rather than start a new discussion I'll piggyback here.

We are banking with one bank ptsb. Last week after a mistake by my good wife her card was comprised and multiple attempts of taking money were stopped by Ptsbs fraud officers, my wife was on business in Austria at the time.

It was said to her that there "was too much money on the accounts " and they are correct.

We had that money to buy our last house and be mortgage free.

However those plans have been delayed for another 2/3 years but we need to move money.

State Savings are our choice and we squirreling away €200k plus.

I have all the forms filled out , and dug out the cheque book , obviously they need proof of address etc including her PPSN and a letter from Revenue would suffice.

However shes known by Revenue as ***** O Mahoney, and this is the only organisation that has her " married name ". We are married and are jointly assessed and return Form 11every year.

Drivers License, Passport, Payslip, Health insurance etc. all in her " maiden name "

My question is can she proceed with the State Savings application or would it be easier to change ROS?

Apologies for length of post.
 

Groucho

Registered User
Messages
291
Rather than start a new discussion I'll piggyback here.

We are banking with one bank ptsb. Last week after a mistake by my good wife her card was comprised and multiple attempts of taking money were stopped by Ptsbs fraud officers, my wife was on business in Austria at the time.

It was said to her that there "was too much money on the accounts " and they are correct.

We had that money to buy our last house and be mortgage free.

However those plans have been delayed for another 2/3 years but we need to move money.

State Savings are our choice and we squirreling away €200k plus.

I have all the forms filled out , and dug out the cheque book , obviously they need proof of address etc including her PPSN and a letter from Revenue would suffice.

However shes known by Revenue as ***** O Mahoney, and this is the only organisation that has her " married name ". We are married and are jointly assessed and return Form 11every year.

Drivers License, Passport, Payslip, Health insurance etc. all in her " maiden name "

My question is can she proceed with the State Savings application or would it be easier to change ROS?

Apologies for length of post.

Why not email your query to service@statesavings.ie and they'll come back to you surprisingly quickly!
 

Groucho

Registered User
Messages
291
I try that didn't think we could as we don't have an account yet.

Bear in mind that, as they're applying an EU regulation they haven't any flexibility in interpreting it, but I'm sure that they must have encountered this issue previously.
 

Paul O Mahoney

Registered User
Messages
1,856
Bear in mind that, as they're applying an EU regulation they haven't any flexibility in interpreting it, but I'm sure that they must have encountered this issue previously.
Emailed them response was instant and they'll accept her Payslip as PPSN , so no messing around with Revenue.

Thank you so much for your help.
 

fernrock

Registered User
Messages
49
I applied about 3 weeks ago to access my state savings on line.
Filled in everything needed , registered , but , still waiting for a letter containing a pin to access account.
 

noproblem

Registered User
Messages
3,292
I applied about 3 weeks ago to access my state savings on line.
Filled in everything needed , registered , but , still waiting for a letter containing a pin to access account.
As far as I know they send you out a statement every year about a month before the savings anniversary, with full details of what you have invested, date it matures and what it's worth each year.
 

ClubMan

Registered User
Messages
45,917
As far as I know they send you out a statement every year about a month before the savings anniversary, with full details of what you have invested, date it matures and what it's worth each year.
I've never received such a statement.
I thought that part of the reason for the online account was to cut down on paperwork/postage?

Edit: oh, maybe it's relevant that I only have prize bonds these days and not any of their savings/investments products?
 

TinyChamp

Registered User
Messages
23
More paperwork = need to have more human intervention = more overtime for staff etc ;)

It's actually incredible / disgraceful how many state / semi state entities and related services, still insist on hard copy documentation.
And to be fair they have a great track record when it comes to switching over to digitized systems

:)
 

Groucho

Registered User
Messages
291
As far as I know they send you out a statement every year about a month before the savings anniversary, with full details of what you have invested, date it matures and what it's worth each year.

That's correct. Annoyingly, (I am a registered online customer) as well as sending me an email informing me that my statement is available online, they then send me out a hard copy a few weeks later. Very inefficient and somewhat pointless.
 

mct1

Registered User
Messages
219
Even more pointless - they send myself and husband two identical paper statements for our joint savings account. One goes straight in the bin.
 

Sue Ellen

Moderator.
Messages
8,623
Even more pointless - they send myself and husband two identical paper statements for our joint savings account. One goes straight in the bin.

They do that to cover all options. Where we have joint certificates some are with my name first and husband second holder and vice versa. The statements cover this aspect.

Childcare Plus account to lodge childrens' allowance used to require just the mother's holding name and they are listed separately which is another reason for two statements.

Hopefully the one going in the bin is shredded first as lots of info in it :)
 

igotadose

Registered User
Messages
18
Piggybacking... If they have an online system, it's laughably bad.
1. Every page asks you to accept cookies - *every* page.
2. Their back-office support is dreadful. Herself (after two months of waiting for confirmatory forms to be sent out by State Savings, like 2 attempts at signature confirmation, even though we intend to do everything online...) has an account. I am to be a joint owner. I received the signature verification form and sent it back 3 weeks ago. Still no response.
3. Make a purchase online; wait a week for e-mail confirmation and for the funds to show up in the account. A week. Laughable. Physical copies of the bonds, well, kind of hard to predict when they show up, seems like 10 days after the purchase, maybe 10 days after the funds show in the account. Even so, wtf...

I could go on; State Savings seems like the perfect example of 'really screwing things up requires a computer.' The only decent timely service we've gotten has been at the Post Office, who did warn us State Savings is very slow. Little did we know.

Our bonds are not mature yet. If we want to access them early, perhaps an early redemption, I can just imagine how long that will take.

State Savings isn't for the faint-hearted if you're used to functional online banking. BoI is better than they are, and I never thought I'd say that in the context of anything banking related. Seems like State Savings is one of those organizations who really like to do things on paper and were forced online. Plus, the web pages themselves give almost no information about how long things take. To say they're poorly written would just be cruel.
 
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