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Withdrawing from deposit account?

  • 21-05-2013 9:07pm
    #1
    Dubman78
    Registered Users, Registered Users 2 Posts: 4 ✭


    Hi , just wondering is it possible or much hassle to withdraw from a deposit account with the TSB? I deposited 5k for a year end of 2011 and was automatically renewed i think for another year end of 2012.. Now i could do with some of it !


Comments

  • #2
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    Go into your branch. There'll probably be a small fee for early withdrawal if it's a fixed term deposit.


  • #3
    Dubman78
    Registered Users, Registered Users 2 Posts: 4 ✭Dubman78


    Nervous Wreck wrote: »
    Go into your branch. There'll probably be a small fee for early withdrawal if it's a fixed term deposit.

    Thanks nervous wreck .. It was an interest first deposit account , needless to say the interest is long spent, so id imagine it could be a big fee!


  • #4
    Nervous Wreck
    Closed Accounts Posts: 16,115 ✭✭✭✭Nervous Wreck


    I'd say the fee would depend on how much you want to withdraw and how close to the mature date it is... Interest first sounds so good at the time but jaysus knows where you'll be half way into the term!


  • #5
    Dubman78
    Registered Users, Registered Users 2 Posts: 4 ✭Dubman78


    Nervous Wreck wrote: »
    I'd say the fee would depend on how much you want to withdraw and how close to the mature date it is... Interest first sounds so good at the time but jaysus knows where you'll be half way into the term!

    Yeah those things will more than likely be taken into account ..Exactly , dont think il be doin it again!


  • #6
    greenman09
    Registered Users, Registered Users 2 Posts: 1,909 ✭✭✭greenman09


    They will close this account as per t&c penalty charged based on term left and taken from initial investment


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  • #7
    Dubman78
    Registered Users, Registered Users 2 Posts: 4 ✭Dubman78


    greenman09 wrote: »
    They will close this account as per t&c penalty charged based on term left and taken from initial investment

    So u reckon il get the whole 5k. I dont have a choice , like say take 1k and leave 4 in.


  • #8
    okiss
    Registered Users, Registered Users 2 Posts: 699 ✭✭✭okiss


    I think you will be made close this account.
    I would look up the nca.ie website and see what interest rates you could get at the moment on an instant access account for what ever sum you still want to keep in savings.
    Also if you are willing to limit the amount of times a years you can take money from the account you may get a slightly better interest rate.
    www.kbc.ie are offering good rates at the moment.


  • #9
    greenman09
    Registered Users, Registered Users 2 Posts: 1,909 ✭✭✭greenman09


    Dubman78 wrote: »
    So u reckon il get the whole 5k. I dont have a choice , like say take 1k and leave 4 in.

    U will get your investment less the penalty. The account has to be closed as per terms on it.


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