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Savings Online

Heard this story on the Last Word on Today FM while driving home last evening. The banking sector in Ireland is set up for a bit of competition by the introduction of an internet only bank. Rabo Direct are a Netherlands-based financial institution and appeal to anyone who can offer one Euro to open an account. They also boast a wonderful 3% interest on deposit accounts. The only criticism that came from the Last Word program was that it took Rabo 3 years after they purchased ACC to do anything for the Irish market. Personally, I say well done Rabo; this is very welcome and let’s see a shake up started in the Irish banking sector. If everything checks out then you’d be mad to have any other bank account at those interest rates for deposit. source: The Register

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