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Savings Account Suitability

  • 25-09-2016 2:07pm
    #1
    schmooschmoo
    Registered Users Posts: 59 ✭✭


    I have a current account with AIB for many years now. I want to put a small bit of income each month towards a particular purchase. This will take the bulk of a year or two to reach.

    Rather than trying to remember I have X amount of money ringfenced in current account, I'd love to move it to a separate account but have never dealt with this before. From what I've read, it's straightforward for someone with my current account to set up on online saver account. The only criteria seems to be that I've to put a minimum of €10 into the account each month. I won't be putting in enough for any accumulating interest to be of worth to me, I really want this account solely to separate it from my day-to-day money.

    Is this as straightforward as it sounds? I'll be withdrawing it all and shutting the account in that year or two when I go to purchase. Are there any charges or rates that aren't obvious. I can't see any mention of quaterly rates, ala current accounts (I really am oblivious to banking facilities. It makes no sense to me to pile heaps of rates on a customer who's saving, but I'm doing this blind).


Comments

  • #2
    JTMan
    Registered Users, Registered Users 2 Posts: 5,541 ✭✭✭JTMan


    Opening an AIB Online Saver account is very easy.

    Yes, there is a 10 EUR per month minimum standing order.

    There are no charges / fees with an AIB Online Saver account.


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