Whats the best approach to barter for the higher rate Julia?
I suggest people with funds in at call accounts check them regularly.
I've just done this with my ANZ at call a/c and it has gone from 5.5% to just 3.75%.
If my request to have the 5.5% reinstated (they are still advertising it on Infochoice) is denied, I won't be leaving it there.
I just checked my account yesterday and it's back to 5.51%...I swear when I posted it said 4.91%
Certainly do. Better than CBA.
www.infochoice.com.au
Perhaps they read your post on ASF and realised that you were about to take your business elsewhere.
Anyway, it's good to hear that you've gotten yourself back to a better rate.
Thanks for that Julia, that will undoubtedly save me a lot of time in future.
I know that you would already aware of this, but thought I should highlight (for the benefit of other readers of this thread) that a number of the rates mentioned on that infochoice page appear to be introductory offers that will later revert to a lower rate, so one needs to keep a note of the expiry date in order to facilitate a timely renegotiation and/or transfer to a better offer at another institution.
As always, its important to read the fine print.
Yes, we very much need to be conscious of when that introductory offer runs out.I know that you would already aware of this, but thought I should highlight (for the benefit of other readers of this thread) that a number of the rates mentioned on that infochoice page appear to be introductory offers that will later revert to a lower rate, so one needs to keep a note of the expiry date in order to facilitate a timely renegotiation and/or transfer to a better offer at another institution.
As always, its important to read the fine print.
If worst comes to the worst, just open another online saver account under the bonus offer and link it to the master account that the current one is linked to.Re getting it renewed, I've had this done several times by pointing out to the bank that I'll move the funds elsewhere if it doesn't happen. It perhaps helps that I've been with this fairly small branch for decades and have established relationships there.
Yes, I have done this a couple of times. One of the problems, though, is that the offer is actually not now available to SMSFs and I don't want to transfer the funds out of Super into my own name for obvious tax reasons.If worst comes to the worst, just open another online saver account under the bonus offer and link it to the master account that the current one is linked to.
With 6-figure sums at least, it shouldn't require too much effort to sustain the bonus offers from the various banks over the longer term. That after all is the going rate.
I was meaning the same institution, but you are correct in that getting the bank to apply the bonus rate to an existing account is the better option.Yes, I have done this a couple of times. One of the problems, though, is that the offer is actually not now available to SMSFs and I don't want to transfer the funds out of Super into my own name for obvious tax reasons.
So it's better if I can get the bank to just re-apply the current 'new' rate.
Also, if one is continually establishing new accounts with different institutions, it's quite a pain with having to send all the documentation of SMSF Trust Deed etc. each time. Much more complicated than the very simple process of just opening a new a/c in your own name.
If worst comes to the worst, just open another online saver account under the bonus offer and link it to the master account that the current one is linked to.
With 6-figure sums at least, it shouldn't require too much effort to sustain the bonus offers from the various banks over the longer term. That after all is the going rate.
But can I open another Ubank account under the same name, with the same TFN, and link it to the same everyday account?
Success in having the bonus rate applied to existing account.I was meaning the same institution, but you are correct in that getting the bank to apply the bonus rate to an existing account is the better option.
How does it work, you ask yourself... It's very simple. All new money you put into your HISA from today until 31st January 2013 will earn 5.71%p.a. interest rather than previously 4.6%p.a. (on balances up to $250k) that's an increase of 1.11%p.a.!* So, from today, some of your rates are going up and some are going down.
Check out the table below for a full breakdown of your High Interest Savings Account rates.
High Interest Savings Account rates Balance range Standard Variable Rate (p.a.) Loyalty Rate* Loyalty + Standard rate (p.a.)*
Under $250k 4.55% 1.16% 5.71%
$250k – $1m 4.20% 1.16% 5.36%
Over $1m 3.95% N/A 3.95%
Purpose Saver 3.95% N/A 3.95%
Rabodirect have increased their deposit rate as follows:
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