Best banking rates

miss choc

I have power of attorney for my mother and I'm looking for the best rates around for her finances she has one account in EBS and 3 savings and her current a/c in BOI I will leave her current account where it is but the rates seem quite low I'm wondering should I amalgamate the two demand deposit from boi into one, change to a better account or leave BOI? Also her EBS is reaching maturity in July so don't know weather to roll it over or leave their either. I'm with BOI and PTSB but dont want to put all our savings in the one bank. Any ideas?

Delta2113

https://www.askaboutmoney.com/threads/savings-best-buys.90481/ - State Savings are the only real show in town but you have to put away money for a few years.

KBC and EBS would be regular savings options.

JTMan

miss choc wrote: »

I have power of attorney for my mother and I'm looking for the best rates around for her finances she has one account in EBS and 3 savings and her current a/c in BOI I will leave her current account where it is but the rates seem quite low I'm wondering should I amalgamate the two demand deposit from boi into one, change to a better account or leave BOI? Also her EBS is reaching maturity in July so don't know weather to roll it over or leave their either. I'm with BOI and PTSB but dont want to put all our savings in the one bank. Any ideas?

Okay so she has:
- 1 term deposit with EBS.
- 1 current account with BoI.
- 2 demand accounts with BoI.

You are with PTSB and don't want to use PTSB too.

Okay:
- Do NOT roll the term deposit with EBS. Rates are very low at the moment. You will get around 0.25% AER fixed to roll the term deposit. Not worth it.
- The best rates are with regular saver rates or long dated term deposits such as State Savings. If she is very elderly, then long dated term deposits are not wise for elderly people.

Are you willing to go to the hassle of regular saver accounts? If so KBC will pay 1.75% AER variable with their KBC Extra Regular Saver account. 10k lump sum allowed at the start but you must deposit at least 2k into the Extra Current Account per month and then wire between 100 euro and 1,000 euro per month into the Extra Current Account.

Other options include EBS Family Saver that pays 1.75% AER fixed for 1 year of regular saving.

Alternatively, just move all the money into a demand account.

miss choc

Thanks for tips she is 85 with Alzheimer's so basically looking to help for when she needs a nursing home in future. I'm not with kbc and dont fancy opening with them now for her esp online. I think aib and Ulster bank out. I have mine in PTSB so it's a toss up between boi ebs and state. She has current in boi and renting out home so that money is in a saving with boi they wont be touched. So leaves me with end of maturity one in EBS and two others in boi. Might get better one in EBS and cancel other two in boi and put into 5yr state as easier to access and better term for Mam than 10yr. Both of us have never dealt with state accounts would she have to go to post office it was all done in esb and boi years ago but she wouldn't be as well now so wouldnt go with state if they need further proof of POA

miss choc

I checked with An Post I need to get app form, copy of POA and ID and fill up and send into Andrew st or gpo takes about 3 wks to process. I'm going to check EBS tomorrow and have an appt with BOI tomorrow on other stuff tbh I think I may cancel her two Deposit Links as girl in BOI marino today said rates are very bad on them. Its probably a toss up between EBS and An Post certs or bonds