Rabo Direct requirements

311

Hello ,I've just been on the rabo direct website and applied for an account.
But I'm getting more and more etchy about sending the stuff they want ,in the post.

Theres more than enough imformation to cause me some trouble ,should someone decide to copy my details as they are en-route.

Am I being over cautious ,or do other people feel the same?

BuffyBot

Ask them if you can send them registered

No one I've heard of has had an issue

311

Yeah ,I will ring them so.Thanks

Just seen my interest from AIB for the year on an online savings account.
Ridiculously low:(

TheDriver

Rabo are good to deal with and in fairness, they will help with your query. Once you are registered with them, they return everything and all grand from then on.

311

TheDriver wrote: »

Once you are registered with them, they return everything and all grand from then on.

I should ask them to registered my stuff back to me ,I didn't realise they send the stuff back.

Thanks.

TheDriver

Bank and revenue send all their stuff unregistered so whats different about Rabo?

dudara

Rabo are excellent at returning documents and dealing with things quickly. Nothing but praise from me so far.

311

TheDriver wrote: »

Bank and revenue send all their stuff unregistered so whats different about Rabo?

Its the amount of different items they require ,together in one envelope.

Theres quite a difference in a tax allowance cert in one envelope and a driving licence details/passport ,bank statement ,utility bill and pps number details in another.

They won't register my details back to me:(

gubby

I honestly dont see what your problem is??? I send all my stuff and got it back extremely quickly. if you want, I guss you could send each item in seperate envelopes!!!!

BuffyBot

TBH it's a tiny, tiny chance that anything will go missing. They don't send them back in a big envelope with "RABODIRECT: LOTS OF PERSONAL INFO IN HERE. STEAL ME" on it.

I don't really think, based on everyone's experience, you have much to worry about.

311

I almost feel silly for posting this now ,I was just worried about it.

I wanted to set this account up last year and didn't for the this very reason. But after giving aib my money for a year ,I have to try rabo now.

Thanks for the replies:)

dotsman

311 wrote: »

Yeah ,I will ring them so.Thanks

Just seen my interest from AIB for the year on an online savings account.
Ridiculously low:(

I think that AIB pays more interest than Rabo!

By the sounds of things you are on the Online Personal Savings plan which ranges from 4.5% - 6.75%. Rabo only pays 4.3%. There is also the AIB Demand which pays 5% up to 10K and pay 7.3% on their Regular Savings Account (max €300 per month). No matter which AIB option you go with, you'll be on a higher rate than Rabo (unless you have well over 10K, in which case I'd leave the 10K with AIB earning 5% and the rest with Rabo on 4.3%)

Sources:

AIB
Rabo

P.S. that graph on the Rabo page comparing it to the other banks is pure BS. I opened a Rabo about almost 2 years ago, and within a year had my money back in AIB. I don't like Rabo's BS advertising, pretending to be one of the best when it is in fact one of the worst rates out there.

Don't mean to sound like I'm selling AIB!, but if your only reason to move your money to Rabo is to get higher interest, then you're going to be very disappointed.

stepbar

Note the Rabo man is not so frequent round these parts since they decreased their interest rate. It's ironic that they talked about customer inertia and now they're depending on the exact same to keep custom. LOL. Rabo have a fairly crappy rate to be fair. In fact depending on how much money you have, the vast majority of other banks can beat it. If you want to put away a monthly sum, Rabo don't even feature.

311

Thanks for the insight ,I think I'll have a snoop around at other options.

boa-constrictor

dotsman wrote: »

I think that AIB pays more interest than Rabo!

By the sounds of things you are on the Online Personal Savings plan which ranges from 4.5% - 6.75%. Rabo only pays 4.3%. There is also the AIB Demand which pays 5% up to 10K and pay 7.3% on their Regular Savings Account (max €300 per month). No matter which AIB option you go with, you'll be on a higher rate than Rabo (unless you have well over 10K, in which case I'd leave the 10K with AIB earning 5% and the rest with Rabo on 4.3%)

Sources:

AIB
Rabo

P.S. that graph on the Rabo page comparing it to the other banks is pure BS. I opened a Rabo about almost 2 years ago, and within a year had my money back in AIB. I don't like Rabo's BS advertising, pretending to be one of the best when it is in fact one of the worst rates out there.

Don't mean to sound like I'm selling AIB!, but if your only reason to move your money to Rabo is to get higher interest, then you're going to be very disappointed.

There is huge misinformation going around about what rate is paid by what bank, because the banks use very misleading advertising - stating that they pay 7.65% etc subject to T & C, and the T & C include stuff like max €10k or max savings €300 per month.

I had €125k on 3 mth fixed deposit with AIB until 2 weeks ago and when it matured they were the worst offer for another 3 mths (4%) so I moved it to Friends First and got 5.05%. AIB quote a good rate to get you in but they must figure that alot of depositors will not shop around so when you are rolling over the deposit they give you a crap rate - much like the way the insurance industry operates - you have to shop around every time your policy is up for renewal or else you'll be shafted.

dotsman

boa-constrictor wrote: »

There is huge misinformation going around about what rate is paid by what bank, because the banks use very misleading advertising - stating that they pay 7.65% etc subject to T & C, and the T & C include stuff like max €10k or max savings €300 per month.

I had €125k on 3 mth fixed deposit with AIB until 2 weeks ago and when it matured they were the worst offer for another 3 mths (4%) so I moved it to Friends First and got 5.05%. AIB quote a good rate to get you in but they must figure that alot of depositors will not shop around so when you are rolling over the deposit they give you a crap rate - much like the way the insurance industry operates - you have to shop around every time your policy is up for renewal or else you'll be shafted.

Oh I agree. You see the whole thing is that the ECB rate is 4%. A bank is making a loss on anything over the 4% that they pay. But to maintain large cash reserves (especially with the current credit crunch), they are offering higher than the ECB for a short while and then revert back to ECB rate and hope the customer leaves it there.

To be fair to them, it's not like they're doing anything wrong. In fact it's saver's who are taking advantage of the bank's desperation for cash.

311

Thanks again for the replies ,I've stuck with AIB for the moment.

Left the online savings account alone and opened up another high interest account, no limits on lodgements but there is a notice on withdrawls.

Happy enough now ,cheers.