Change from Ulster to Halifax Current Acc?

joseph brand

Have credit card with Halifax. Use navan branch. Very handy, no queues, open saturdays.

Current acc with ulster, who seem ok, BUT interest is terrible. Have around 4.5K in account. Interest they gave me last month was a paltry 0.78 euro :eek: (think I'll treat myself to a can of coke, thanks)
I read on their site the interest is a whopping 0.15%
Is this normal???

Halifax offer 10% interest, up to 2,000 euro. If I have, say, 4K in account, would I get 200 euro?

It seems that if I want any descent interest with Ulster, I need to be saving over 10K, and even then the interest is only 3.18 on deposit account?

Thanks,

Kev.

BobbyD10

I have an Ulster Bank current a/c and received 10c I think.

Better to use their online savings accounts, check their website, I have the 5.50% rate e+.(Sorry minimum balance on this of 15k)

There is a 3.90% rate without the plus. But if you can get a better rate the go for it. In this climate value is key.

Jet Black

I have my current account with halifax a year and a half now.
Find it great getting free money every month. It works out at 16.66 per month, then minus the 20% works out bout 13.33.
You will only get it on the first 2k, anyting above that and you get nought.
But if you have two accounts 2k in each and lodge the 1.5kper month you will get the interest on the two.

daithijjj

its important to keep an eye on the interest rates.....and i mean weekly...........last week halifax 1 year fixed deposit was 5.6, it is now 4........no matter what savings account you have the rate can change virtually overnight in this current climate.

Jet Black

But if you fixed before the rate change you would get the 5.6%. Anyone going in to sign now would be told of the new rate.

The 10% on the other hand can change anytime, but has not in nearly two years. Keep an eye on it all the same

daithijjj

heymcflyx wrote: »

But if you fixed before the rate change you would get the 5.6%. Anyone going in to sign now would be told of the new rate.

The 10% on the other hand can change anytime, but has not in nearly two years. Keep an eye on it all the same

My bad, i didnt make that point very clear. I was just suggesting that the interest rates are just going to get worse so find a good rate and fix it asap. Gordon brown guaranteed my cash isa at 5% interest (no tax), it is now earning a whopping 1.5%.........savings rates are going to drop like a stone here too over the next 6 months imo.

joseph brand

heymcflyx wrote: »

I have my current account with halifax a year and a half now.
Find it great getting free money every month. It works out at 16.66 per month, then minus the 20% works out bout 13.33.
You will only get it on the first 2k, anyting above that and you get nought.
But if you have two accounts 2k in each and lodge the 1.5kper month you will get the interest on the two.

Thanks for replies guys.

I just don't understand where the 20% came from. (maybe it's because I'm finishing night shift and it's nearly 6 in the morning, . . or . . )

fionnmar

Think the 20% refers to DIRT (tax on interest on savings)
Cheers

Jet Black

Yeah its DIRT sorry. I assumed..... and as manager once said to me you should never assume because...

it makes an ass out of u and me
ass/u/me