Rabobank

daithi666

I have just opened an account with rabobank and want the 3.5% that they offer on savings. Does it work like a normal bank? Is it just for storing money in? I mean can I take money out throught atm's? Any reviews you might have would be very welcome!

Idleater

You should check out the FAQ on rabodirect.ie

Signing up for something without understanding how it works is not generally a good idea.

L.

daithi666

Well, opening an account and using it are two different things. Hence, why I'm asking people for reviews. I have already read those FAQ's. I wouldn't take a banks own words for granted, especially when it's online. That's why I want to get some opinions.

Mayshine

ITs explained perfectly well on the Rabo site

but again

its an online only a/c - you get a current and saving a/c's, i.e. two account numbers. YOu can transfer driectly to the saving account using something like online365 or equivalent.

When you want you money, you transfer it from the rabo savings to rabo current and then you set up a transfer on the site from the current to another external a/c

daithi666

I think you're being awful **** about this. I'm looking for opinions as well as some advice on this rabobank. It's a risk to give anybody your money and I was hoping maybe there were some people out there with experience of using this bank. Unless you have something other than 'read the webpage' I'd appreciate it if you didn't post at all.

Idleater

daithi666 wrote:

Unless you have something other than 'read the webpage' I'd appreciate it if you didn't post at all.

Site search on boards.ie using terms "rabodirect rabobank"

L.

Mayshine

You asked 4 questions mate, the first three were on the operation of the accounts and what you can do with them, myself and another gave you the answers you need.

Seriously you first three question are all answered on the web site. Calling people **** who actually post replies to answer your questions (3 of which indicate you never even bothered to read the rabo site) is plain silly. If you wanted a personnal review maybe you should have been more bloody explicit. Obviously nobody on boards has had their money stolen by rabo so noone is going to say it is a large risk. If you are genuinely concerned about the security of you money in rabo, you would be advised to properly reasearch the bank. This means more than asking for a review in boards by the way

Anyway

Does it work like a normal bank?
Not really - its an online bank it has no branches, outside of this it works just like your aib or boi just online only.

Is it just for storing money in?
They allow you to buy investment funds also

I mean can I take money out throught atm's?
Obviously no

Any reviews you might have would be very welcome!
I have had an account with them from may. So far they give me interest every day, let me invest in funds and have customer service that is just fine. My money is still there, rabo are rated pretty highly by the rating agencies.

Wertz

Been a member of rabobank for over a year now. I find it great, no mass mailings from them, one eMail newsletter a month, no phonecalls offering me loans.
I had an inital lump sum to invest that I was simply sick of watching my domestic Irish bank do nothing with interest-wise, so I researched what was on the market and rabo seemed like the best prduct.

The security keyfob method of accessing your accounts seems like it's as secure as an online bank can get...it does take a little getting used to, but for the peace of mind it provides that's worth it.

I move money from my normal current account every so often to the rabo current account using my domestic bank's online service. The money clears in 3 days, then I move it straight away to the rabo savings account (for some reason you can't move money into or out of the savings account externally), because it is ONLY the savings account which pays the deposit interest rate.

The website can seem a little daunting at first...it is a little hard to navigate initially, but like the keyfob, you get used to it.

As for actual security of your money, vis a vis handing your money over to a website, rabodirect is owned by one of the world's leading banks...if they go bust then our own domestic banks will have long since gone bust.

All in all I recommend rabo....the high deposit rate speaks for itself...I only wish they'd been around years ago...the amount Irish banks must have creamed off by simply not paying a proper % rate to small investors, over the initial years of the boom, must be in the millions.



Lastly OP, coming on here and calling people **** isn't going to do you any favours and is likely to get you banned...anyone thinking about actually giving you a word of mouth review which you asked for could be put off by your attitude...

pugwall

for some reason you can't move money into or out of the savings account externally

You CAN move money directly into your RABO savings account from an external bank account (I do it from 365online) but you CAN'T transfer money externally from your RABO savings account. You must first transfer it to your current account.

I've been saving with them for over a year now and find them great. Simple to use, great customer service and 3.5% interest! : )

Wertz

Ah, thx for clearing that up. Must set that up.