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Post Office or Bank

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  • 07-05-2012 8:28am
    #1
    CaesarCrown
    Closed Accounts Posts: 13 ✭


    Is it better to keep some in both or all in the bank?
    Im more inclined to keep it and move all my money from post office to bank but Im unsure and would like to know if there are any caveats before I do so.

    Thanks


Comments

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    #2
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    Keep it in the account that offers you the best options between access and high interest rate.


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    #3
    CaesarCrown
    Closed Accounts Posts: 13 ✭CaesarCrown


    cookie1977 wrote: »
    Keep it in the account that offers you the best options between access and high interest rate.

    any idea how I find what the rate is on the two accounts?
    But should I keep it all in the same account?


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    #4
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    All the banks (Irish banks) and post officies still have the state gaurantee so the money is as safe as long as the state is as safe.

    Re the rates, check their sites or call into them. They'll give you the details.

    Rabo bank is another option.


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    #5
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    CaesarCrown wrote: »
    any idea how I find what the rate is on the two accounts?
    But should I keep it all in the same account?

    What is the name of the account(s) that you have with the post office? We need this information to tell you the rate.

    Also, do you need instant access?

    As a general rule, NTMA State Savings (the proper name for An Post savings) offer high rate for long dated term deposits but poor rates for instant access, notice accounts and regular savings.


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    #6
    filmbuffboy
    Closed Accounts Posts: 894 ✭✭✭filmbuffboy


    JUst as long as you don't have in excess of 100k in any one institution then you are grand tbh.


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    #7
    cookie1977
    Registered Users Posts: 6,794 ✭✭✭cookie1977


    No offence to OP, but if they've over 100,000 they should be giving us advice ;)


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    #8
    JTMan
    Registered Users Posts: 5,540 ✭✭✭JTMan


    filmbuffboy wrote: »
    JUst as long as you don't have in excess of 100k in any one institution then you are grand tbh.

    There is no 100,000 EUR limit. The Irish state guarantees deposits in Irish Banks to an unlimited level, along with most of the banks liabilities.


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    #9
    CaesarCrown
    Closed Accounts Posts: 13 ✭CaesarCrown


    cookie1977 wrote: »
    No offence to OP, but if they've over 100,000 they should be giving us advice ;)

    too true :P
    thanks for the info


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