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Money Transfer

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  • 24-02-2015 6:06pm
    #1
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭


    Hi just wondering i'm heading into my local PTSB to open a 18month Fixed Term Deposit Account. I have no current account with this bank but transferring the money from my BOI account to PTSB is a simple SEPA one? Thanks.


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    #2
    BuffyBot
    Registered Users Posts: 24,924 ✭✭✭✭BuffyBot


    Yup,pretty much.


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    #3
    hfallada
    Closed Accounts Posts: 4,180 ✭✭✭hfallada


    The rate on it is fairly horrific though. Nationwide are offering 4% APR on their 15 month regular saver. With 2 no penalty withdrawals. KBC are offering 1.75% with an on-demand saving account.

    Why get a **** rate and be stuck with them for 18 months?


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    #4
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    hfallada wrote: »
    The rate on it is fairly horrific though. Nationwide are offering 4% APR on their 15 month regular saver. With 2 no penalty withdrawals. KBC are offering 1.75% with an on-demand saving account.

    Why get a **** rate and be stuck with them for 18 months?

    KBC's rate is now down to 1.5%
    The Nationwide regular saver rate drops to just 1.05% after 15 months, less than some other current demand accounts. While the headline rate looks good, its useless for anyone with a lump sum


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    #5
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭Oasis1974


    Thanks for the information. I'm aware of all the banks options through comparison sites and whatnot. I have 80k to save no need for any thing like withdrawal/deposit during the time frame. I'll do a bit more research i suppose. Before anyone says investments and other things I'm pretty clueless just a return on my account that's all. Quick sidenote is it better to have a shorter or longer saving time frame? Thanks.


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    #6
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭Oasis1974


    I was in my local Ptsb today to set up my Fixed Term Account but very surprised to find the transfer of funds option. I was told that a SEPA transfer wasn't allowed and a Bank Draft was needed. In 2015 isnt this quiet old world or is setting up a first time Savings Account with Ptsb the norm?


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    #7
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭Oasis1974


    Just on to PTSB there cutting there rates from next Tuesday. And its a good bit from certain Savings Accounts.


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    #8
    homer911
    Registered Users Posts: 5,119 ✭✭✭homer911


    Oasis1974 wrote: »
    I was in my local Ptsb today to set up my Fixed Term Account but very surprised to find the transfer of funds option. I was told that a SEPA transfer wasn't allowed and a Bank Draft was needed. In 2015 isnt this quiet old world or is setting up a first time Savings Account with Ptsb the norm?

    It was my understanding that you could transfer money in, but that the term would start from the account opening with the interest clocking up from the actual date of deposit


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    #9
    Oasis1974
    Closed Accounts Posts: 1,077 ✭✭✭Oasis1974


    homer911 wrote: »
    It was my understanding that you could transfer money in, but that the term would start from the account opening with the interest clocking up from the actual date of deposit
    His information was actually correct well sort of. I told him it was 90k i was depositing and a Bank Draft would be an option. The problem with a Sepa transfer its a 3k daily limit online and 20k through the post. I need to physically go to my bank to get that large amount into the Ptsb account. Unfortunately he didn't tell me that there rates where been cut. I can get the current rate if the account is open before the current rate expiration but i have an appointment with an Adviser on Friday so i just hope i can get the funds in on time.


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