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Want 3 accounts, best option? Current x2 savings x1

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  • 27-09-2012 5:40pm
    #1
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,096 Mod ✭✭✭✭


    I am currently with PTSB and have a current account. I want this to just be disposable cash. I wish to have another account for rent/bills etc which would be a current account. I assume you can't have two current accounts in the same bank??? so which would be the best place to have another current account?

    I would also like a savings account and I suppose this would be easiest if I had it at PTSB too, unless there is a better option.

    Can somebody help me understand the difference between their three savings accounts called 'Regular Saver' and 'Online Regular Saver Account' and 'Online Instant Access Account'

    The regular savings account has interest of 2.5% and 21 days notice which the online one seems to not have the notice mentions and 3.5%? Is it that you apply for notice online to withdraw? Also 21 days?

    What about the third option, seems to be just a current account with 2.5% interest really? Why would anybody get the regular savings account then?
    Could I just use that as another 'current' account?


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    #2
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,078 Mod ✭✭✭✭AlmightyCushion


    The second one is the best option. There is no notice required to make a withdrawal. You just log onto open24 and transfer the money to your other account. The difference with the third one is that the first two are regular savers. With the first two is that you deposit between €1 and €1000 a month. With the third one you can put as much as you like in there whenever you want. You could deposit 5000 every day for a month if you had the money for it.


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    #3
    disliking shift work
    Registered Users Posts: 19 ✭disliking shift work


    Hi

    I dont know much about savings accounts but it is possible to have 2 current accounts - i have 2 with UB, had no problem opening 2, just explained why I wanted them (same reasons as yourself) and they opened both at the same time for me


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    #4
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,096 Mod ✭✭✭✭Tar.Aldarion


    AlmightyCushion wrote: »
    The second one is the best option. There is no notice required to make a withdrawal. You just log onto open24 and transfer the money to your other account. The difference with the third one is that the first two are regular savers. With the first two is that you deposit between €1 and €1000 a month. With the third one you can put as much as you like in there whenever you want. You could deposit 5000 every day for a month if you had the money for it.
    disliking shift work wrote: »
    Hi

    I dont know much about savings accounts but it is possible to have 2 current accounts - i have 2 with UB, had no problem opening 2, just explained why I wanted them (same reasons as yourself) and they opened both at the same time for me

    Great stuff guys thanks! AlmightyCushion, do I need to set up a certain amount going into that account in the second option that is mandatory or is it just that it is limited to E1000 a month?

    Gonna go with what you guys suggest, two current and an online savings account with PTSB. Handy to have them all on open24.


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    #5
    AlmightyCushion
    Moderators, Education Moderators, Technology & Internet Moderators Posts: 35,078 Mod ✭✭✭✭AlmightyCushion


    Tar.Aldarion wrote: »
    Great stuff guys thanks! AlmightyCushion, do I need to set up a certain amount going into that account in the second option that is mandatory or is it just that it is limited to E1000 a month?

    Gonna go with what you guys suggest, two current and an online savings account with PTSB. Handy to have them all on open24.

    You could set up a standing order to transfer a set amount in but you don't have to. You can just log in and transfer what you want as you want. You can make multiple transfers per month as long as they don't exceed the €1,000.


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    #6
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,096 Mod ✭✭✭✭Tar.Aldarion


    That's great, it's just like having another current account, but with 3.5%. Thanks again.


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