Savings Account that's difficult to access?

fartyarse

Hi there

Two weeks ago I cleared my loans and am SO proud but I don't want to lose the run of myself altogether, so I want to save.

I have a PTSB savings account that's linked to my online banking so that is a huge fail, €50 goes into it on pay day and back out of it on Monday!

Also set up a Rabo account, but again, it just takes the few clicks of a little machine to transfer money out.

Does anyone have any recommendations for a good savings account, in any establishment, that won't give easy access to your money? I have tried to be restrained but I'm just a disaster and I don't want to squander any more of my money away.

AlmightyCushion

I think KBC accounts are only read only online so to transfer money out you'd have to ring up or send a letter or something. I think you really need to start showing restraint though. Making it difficult to access your savings could cause problems for you when ever an unexpected emergency crops up and you need the cash quickly.

murphaph

You've proven some restraint and self discipline by clearing your debts. Build on that. Sounds like you're already a rabo customer so why not use http://www.rabodirect.ie/personal-savings/notice-saver/default.aspx ?

AlmightyCushion

murphaph wrote: »

You've proven some restraint and self discipline by clearing your debts. Build on that. Sounds like you're already a rabo customer so why not use http://www.rabodirect.ie/personal-savings/notice-saver/default.aspx ?

On those can you not still take it out whenever you want but just lose out on interest.

Vorsprung

I set up an Ulster Bank account (was with BOI at the time), had a standing order sending money out to it every month. Set it up so there was no card or internet banking, had to go in to get money out but never did. Money was out of sight and out of mind, saved a fair bit!

DMcL1971

With an instant access account you can get your money too easily.
With a fixed term account you can't get your money until the end of the period, so not great if you have an emergency.

A notice saver account is a good idea.

Rabo provide 30 and 90 day notice saver accounts. You need to give them 30 or 90 days notice before a withdrawal. They give 1.75 and 1.95% interest on savings.
http://www.rabodirect.ie/personal-savings/notice-saver/default.aspx

PTSB have a 40 day notice account. They give 1.9% interest on savings.
https://www.permanenttsb.ie/whatweoffer/savings-and-investing/deposit-accounts/online-40-day-notice/

AIB have 7 and 21 day notice accounts. They give 1.75 and 1.8% interest on savings.
http://www.aib.ie/personal/savings/Online-Notice-Deposit-7-Account
http://www.aib.ie/personal/savings/online-notice-deposit-21-account

JTMan

fartyarse wrote: »

Hi there

Two weeks ago I cleared my loans and am SO proud but I don't want to lose the run of myself altogether, so I want to save.

I have a PTSB savings account that's linked to my online banking so that is a huge fail, €50 goes into it on pay day and back out of it on Monday!

Also set up a Rabo account, but again, it just takes the few clicks of a little machine to transfer money out.

Does anyone have any recommendations for a good savings account, in any establishment, that won't give easy access to your money? I have tried to be restrained but I'm just a disaster and I don't want to squander any more of my money away.

I suggest you go with a Permanent TSB: 21 Day Regular Saver. The account pays 2.65% which is a good rate. There is no obligation to save each month. You can save up to 1,000 EUR per month in the account. 21 days notice is required for withdrawals.

Give that you already have a PTSB account, it will be easy to set up.

fartyarse

Thanks a million folks, loads of brilliant suggestions there, much appreciated!

marketty

Lose your little rabobank gizmo, worked for me! ;-)

fartyarse

marketty wrote: »

Lose your little rabobank gizmo, worked for me! ;-)

FANTASTIC idea!!!!!