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AIB Online Notice Deposit 21 is absolutely useless

  • 21-02-2018 4:32pm
    #1
    quinnd6
    Registered Users Posts: 1,556 ✭✭✭


    I just noticed it today.
    AIB have stopped people opening new Online Deposit 21 accounts.
    It has now gotten to the stage where there is no point in having an Online Notice Deposit 21 account because the rate of interest is identical to an Online Notice Deposit 7 account ie. 0.05% which is close to nothing anyway.
    So definitely if you got a deposit 21 account just close the darn thing.
    The only difference between it and the other account is you have to wait longer to get your money.
    Of course AIB are never going to let customers know about this because they like having your money for longer and giving you pretty much nothing for it and well we know from hearing about tracker mortgage scandals how much banks really care about their customers.
    The banks are just a safe place to leave your money now and that's about it.
    Though with Rabodirect announcing their closing today it makes me wonder how safe are we using banks anymore.


Comments

  • #2
    mickmac76
    Registered Users, Registered Users 2 Posts: 400 ✭✭mickmac76


    I was looking at my notice deposit account today and the interest is truly pathetic. You can open a one year term deposit account with an interest rate of 0.3% if you can believe that. That means if you deposit €15000 which is the minimum amount then after a year you will earn €45 in interest before tax. Truly we are lucky to have such a bank as AIB.


  • #3
    CeilingFly
    Closed Accounts Posts: 3,378 ✭✭✭CeilingFly


    If you were in Germany, the banks would be charging you for holding deposits.

    Ecb overnight deposit rates are negative ( -0.4%). So anything above -0.4% is a bonus.


  • #4
    quinnd6
    Registered Users Posts: 1,556 ✭✭✭quinnd6


    CeilingFly wrote: »
    If you were in Germany, the banks would be charging you for holding deposits.

    Ecb overnight deposit rates are negative ( -0.4%). So anything above -0.4% is a bonus.

    Wow really.
    That's horrendous.


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