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  • 11-06-2010 6:40pm
    #1
    almalahide
    Registered Users, Registered Users 2 Posts: 69 ✭✭


    So it says in a empty shop on Baggot St. Any chance at all they might offer current accounts or will the branch just offer savings? I know they are here already online..


Comments

  • #2
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    almalahide wrote: »
    So it says in a empty shop on Baggot St. Any chance at all they might offer current accounts or will the branch just offer savings? I know they are here already online..

    No idea but with the savings rates they're offering I have no idea how they plan to make money in the long term unless they plan to lend the deposits back into the market. If there was any value doing this surely they would have cherry picked the best branches in the Halifax network and proceeded from there. Clearly they seen no value to be had in Halifax customers which begs the question why some banks are so actively persuing same (and I'm looking clearly towards Ulster Bank here).

    I'm guessing that they "may" follow the Rabo model but how in ever as people have found out with Rabo, their current accounts are feck all use if you need immediate access to funds and TBH their interest rates are now back in line with the bigger players. In fact the bigger players are doing their damndest to reduce deposit rates as there are many customers on rates below the highest deposit rates they can offer (particularily Mortgage and Business lending).

    The simple truth is that Ireland will not have any real competition into the market for a long time.


  • #3
    JTMan
    Registered Users, Registered Users 2 Posts: 5,558 ✭✭✭JTMan


    almalahide wrote: »
    So it says in a empty shop on Baggot St. Any chance at all they might offer current accounts or will the branch just offer savings? I know they are here already online..

    They are product branches that are used to inform consumers of their savings book.

    NUK are using their Irish deposit base to fund UK mortgage lending.


  • #4
    Blackjack
    Registered Users, Registered Users 2 Posts: 3,628 ✭✭✭Blackjack


    Fungus wrote: »
    NUK are using their Irish deposit base to fund UK mortgage lending.

    And to access ECB lending facility.


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