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AIB Online Savings Account

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  • 28-09-2005 1:58pm
    #1
    Fmicrochip
    Closed Accounts Posts: 38 ✭


    According to the papers, AIB was forced to create an online savings account scheme with good interest(~3%) because of the number of other companies doing so. Apparently AIB customers were withdrawing money to get good interest elsewhere (and who could blame them).

    Anyway, for the last 3 days(at least) the AIB Internet Banking website will not let anybody open one of these savings accounts because of a bug on their website. I told them about it on Monday and they haven't fixed it.

    It's almost as if they don't care -
    I think I'll move my money elsewhere. :)


Comments

  • Options
    #2
    dmeehan
    Registered Users Posts: 2,455 ✭✭✭dmeehan


    you can do it now
    i just set me up an account


  • Options
    #3
    daveg
    Registered Users Posts: 4,683 ✭✭✭daveg


    According to AIB website:

    The minimum you can deposit to your account in a calendar month is €20 and the maximum per calendar month is €1,000.

    With an Online Personal Savings Plan you can avail of a great rate of 3% per annum on your savings (A.E.R. 3.0% - 4.5%).

    Bonus benefit
    You will receive a bonus if you:
    make regular lodgements to your account
    (minimum €20 per month, maximum €1,000 per month)
    make no more than one withdrawal per year (between 1st April and 31st March the next year).
    Your bonus will be added to your account with your interest in April:
    Year 1, a bonus of 10% of interest earned is paid.
    Year 2, a bonus of 20% of interest earned is paid.
    Year 3, a bonus of 30% of interest earned is paid.
    Year 4, a bonus of 40% of interest earned is paid.
    Year 5, a bonus of 50% of interest earned is paid.

    When 5 years have been reached, the bonus cycle starts all over again with 10% in year 6 and increases incrementally as before.



    :eek:


  • Options
    #4
    daveg
    Registered Users Posts: 4,683 ✭✭✭daveg


    More info here:

    http://www.askaboutmoney.com/showthread.php?t=13880


  • Options
    #5
    AndyWarhol
    Closed Accounts Posts: 223 ✭✭AndyWarhol


    Fmicrochip wrote:
    According to the papers, AIB was forced to create an online savings account scheme with good interest(~3%) because of the number of other companies doing so. Apparently AIB customers were withdrawing money to get good interest elsewhere (and who could blame them).

    Anyway, for the last 3 days(at least) the AIB Internet Banking website will not let anybody open one of these savings accounts because of a bug on their website. I told them about it on Monday and they haven't fixed it.

    It's almost as if they don't care -
    I think I'll move my money elsewhere. :)

    Even if they did 'give' you 3%, you're still behind inflation. Current accounts are good for day to day cash flow, equity is the only way to make your money work.


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