ACC SSIA Maturity Charge

fearrchair

I recently had an SSIA mature in December with payment in the middle of January.

The SSIA was with the ACC Bank and I notice that on the statement I have a maturity charge of €275.

Has anyone else see this or have been charged for this amount.

I emailed customer.service@accbank.ie on the 15th January but have not received a response.

randomname2005

Did you have a regular deposit or investment account? The maturity charge could be their fee for the latter?
R

fearrchair

I had no deposit or investment banking business other than the SSIA Account with the ACC, as I had a bank account with the Bank Of Ireland.

randomname2005

Was your SSIA a standard savings account with a guaranteed rate of (I think) .5% less than the ECB, or was the money put into funds?
I had the former and was not charged anything.

Could it be the dirt charge?

R

fearrchair

It could be a Dirt Charge.

I saved the maximum E253.95 every month since the start got 63.49 credit every month and ended with 507.26 Credit Interest.

All that came to E20,245.95
less Tax on Maturity E275.90
less Draft E19970.05 which is the cheque they sent me out.

Maybe you can work out something from the figures.

Idleater

Sounds like the DIRT tax.

The interest was paid to you Gross of tax over the term.

This was in case you didn't abide by the T&C's of the scheme and cashed in early.

L.