Transferring from AIB to Anglo Irish Bank

[Mick Dundee]

Hi Folks,

have a fixed term deposit acc with AIB but the rate is fairly pants (3.25% me thinks?). Was contemplating transferring the 14K in the AIB account across to Anglo's Premium Demand Acc (rate of 5.5% as of 29/09/08).
Since I'm not one to have my finger on the economic pulse on a regular basis, is there any good reason not to proceed with my plan of action?

Cheers,
Mick

 

[Lightning]

No reason ... if you want an on demand account then you are best going with Anglo who ofer the best on demand rate.

 

[ClubMan]

Only gotcha is that you cannot transfer the money back out from Anglo online so you'll have to do it some other way - e.g. in their office, by phone (EFT to another account if they support this?), by cheque etc.