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Deposit [Should I move from Rabo to Investec?]

  • 22-11-2011 6:28pm
    #1
    d8player
    Registered Users, Registered Users 2 Posts: 316 ✭✭


    Hi,

    I have some money in a Rabo account that is not really earning much. I saw an advert for an Investec account giving 6.85% over 18 months (4.52% AER). Anyone able to comment on these?

    Cheers,
    D


Comments

  • #2
    homer911
    Registered Users, Registered Users 2 Posts: 5,127 ✭✭✭homer911


    A bank offers high deposit rates to attract funding - you would have to ask yourself why they are offering such a high rate and is any possible increased risk acceptable to you


  • #3
    Ranelite
    Registered Users Posts: 123 ✭✭Ranelite


    The other question would be is Investec safer as it's a South African bank and more removed from Euro collapse?


  • #4
    jimmydkid
    Registered Users Posts: 170 ✭✭jimmydkid


    I had money on deposit with investec in the past and found them very good to deal with, That rate seems a decent enough deal to me


  • #5
    shangri la
    Registered Users Posts: 952 ✭✭✭shangri la


    Any info on the safety of Investec. Have the books been audited/stress tested in the last 2 years?


  • #6
    NIMAN
    Registered Users, Registered Users 2 Posts: 33,753 ✭✭✭✭NIMAN


    I read a lot about Investec a few years back before I invested some money for 6 months with them.

    They are well rated as an investment firm. And the 6 months with them was very smooth and no hassle at all.


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  • #7
    shangri la
    Registered Users Posts: 952 ✭✭✭shangri la


    Would any of the ratings agency's cover Investec?

    What is their track record in getting their rating correct?


  • #8
    iminireland
    Registered Users Posts: 47 ✭iminireland


    shangri la wrote: »
    Would any of the ratings agency's cover Investec?

    What is their track record in getting their rating correct?

    Here is a link to the agency ratings which is on Investec's website:

    http://www.investec.co.uk/home/investor_relations/credit_rating.tablepopup_pageContent_65419-table.html

    Investec deposits in Ireland are covered under the UK Bank Guarantee Scheme to a max of £85,000 STG, this is capped at €100,000. Link with more details below:

    http://www.investec.ie/#home/Deposit_Accounts/personal_deposit_accounts/financial_services.html


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