Deposit Account for Maintenance Fund

[uvalue]

Hi everybody,

I have just one query before i submit my application on 1st september. I had opened a deposit account about three months before and it was specifically for maintenance fund requirements. In last three months, there are various transaction (Including lodgements and withdrawls) in this deposit account.
On my bank statement, there is clearly written on it 'DEPOSIT ACCOUNT'. As i have read in few threads that cases has been rejected due to notice deposit or fixed deposit accounts. My account is none of them, as i can deposit and withdraw money at any time.

My Question is ---- Would it be OK to submit a Deposit Bank Account Statement for Maintenance Funds requirement????


Any answer or suggestion will be appreciated. Thanks in Advance

Cheers

[uvalue]

Any Suggestions please?

Come on seniors, Chetan, Push, Remish, I am sure you guys can make some suggestion. Thanks


Cheers

[ChetanOjha]

Hi everybody,

I have just one query before i submit my application on 1st september. I had opened a deposit account about three months before and it was specifically for maintenance fund requirements. In last three months, there are various transaction (Including lodgements and withdrawls) in this deposit account.
On my bank statement, there is clearly written on it 'DEPOSIT ACCOUNT'. As i have read in few threads that cases has been rejected due to notice deposit or fixed deposit accounts. My account is none of them, as i can deposit and withdraw money at any time.

My Question is ---- Would it be OK to submit a Deposit Bank Account Statement for Maintenance Funds requirement????


Any answer or suggestion will be appreciated. Thanks in Advance

Cheers

IMO you should be fine using this account. Didn't knew what is deposit account so check definition below.

Definition: Deposit Account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder

[push]

Definition: Deposit Account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder

Chetan that pretty much covers all kinds of accounts I guess

[ChetanOjha]

Definition: Deposit Account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder

Chetan that pretty much covers all kinds of accounts I guess

[uvalue]

Definition: Deposit Account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder

Chetan that pretty much covers all kinds of accounts I guess

@@ Chetan & Push

Guys ....This is Deposit account, where i can withdraw and deposit money at any time. I dont need to give any notice to bank to withdraw money. It is almost like current account, but only difference is that the name of the account is DEPOSIT ACCOUNT and shows on my bank statement as 'DEPOSIT BANK ACCOUNT'.


I hope this should be fine??????

[ChetanOjha]

Definition: Deposit Account is a current account, savings account, or other type of bank account, at a banking institution that allows money to be deposited and withdrawn by the account holder

Chetan that pretty much covers all kinds of accounts I guess

@@ Chetan & Push

Guys ....This is Deposit account, where i can withdraw and deposit money at money time. I dont need to give any notice to bank to withdraw money. It is almost like current account, but only difference is that the name of the account is DEPOSIT ACCOUNT and shows on my bank statement as 'DEPOSIT BANK ACCOUNT'.

I hope this should be fine??????

Yup.

[tvn_ramesh]

Uvalue:

If your account is similar to what Chetan and Push mentioned and you are sure than ignore to read below this line.. but if you are in any doubt.. please make sure your account is not one of these.. though we are not familiar with Ireland bank accounts (i thought it is an irish bank from your profile location..)

please read below.. n see the link..
(If ur account is not as mentioned below - again please ignore this..) better be safe than sorry.. as i see some NOTICE DAYS.. which might be objection to HO..

A Range of Notice Deposit Savings Accounts
Earn a competitive rate of interest with an AIB Notice Deposit Account. High interest rates usually mean that your money is tied up for long periods of time. But with our range of flexible Notice Deposit Accounts, your money earns a high rate of interest, while offering you a choice of notice periods so you can still access your money if you need to.

AIB currently has four types of Notice Deposit Savings Accounts, three branch based accounts and one Online account:
Branch Accounts

Deposit Plus Account - 7 days notice.
Access Deposit 30 Account - 30 days notice.
Notice Deposit 90 Account - 90 days notice.

Link:
http://www.aib.ie/personal/savings/Noti ... s-Accounts

no offence guys.. i know u understand.. i just want uvalue to crosscheck and confirm..

[ChetanOjha]

Uvalue:

If your account is similar to what Chetan and Push mentioned and you are sure than ignore to read below this line.. but if you are in any doubt.. please make sure your account is not one of these.. though we are not familiar with Ireland bank accounts (i thought it is an irish bank from your profile location..)

please read below.. n see the link..
(If ur account is not as mentioned below - again please ignore this..) better be safe than sorry.. as i see some NOTICE DAYS.. which might be objection to HO..

A Range of Notice Deposit Savings Accounts
Earn a competitive rate of interest with an AIB Notice Deposit Account. High interest rates usually mean that your money is tied up for long periods of time. But with our range of flexible Notice Deposit Accounts, your money earns a high rate of interest, while offering you a choice of notice periods so you can still access your money if you need to.

AIB currently has four types of Notice Deposit Savings Accounts, three branch based accounts and one Online account:
Branch Accounts

Deposit Plus Account - 7 days notice.
Access Deposit 30 Account - 30 days notice.
Notice Deposit 90 Account - 90 days notice.

Link:
http://www.aib.ie/personal/savings/Noti ... s-Accounts

no offence guys.. i know u understand.. i just want uvalue to crosscheck and confirm..

But he can still use the accounts even if he have to give notice in order to access the funds.

[tvn_ramesh]

Ok Chetan:
I just wanted him to check as i thought it "might" be a problem with word notice.. but, if it is not.. then good to go.. cheers

[uvalue]

Uvalue:

If your account is similar to what Chetan and Push mentioned and you are sure than ignore to read below this line.. but if you are in any doubt.. please make sure your account is not one of these.. though we are not familiar with Ireland bank accounts (i thought it is an irish bank from your profile location..)

please read below.. n see the link..
(If ur account is not as mentioned below - again please ignore this..) better be safe than sorry.. as i see some NOTICE DAYS.. which might be objection to HO..

A Range of Notice Deposit Savings Accounts
Earn a competitive rate of interest with an AIB Notice Deposit Account. High interest rates usually mean that your money is tied up for long periods of time. But with our range of flexible Notice Deposit Accounts, your money earns a high rate of interest, while offering you a choice of notice periods so you can still access your money if you need to.

AIB currently has four types of Notice Deposit Savings Accounts, three branch based accounts and one Online account:
Branch Accounts

Deposit Plus Account - 7 days notice.
Access Deposit 30 Account - 30 days notice.
Notice Deposit 90 Account - 90 days notice.

Link:
http://www.aib.ie/personal/savings/Noti ... s-Accounts

no offence guys.. i know u understand.. i just want uvalue to crosscheck and confirm..

@Ramesh

I really appreciate your detailed answer, You have done a great research. Thanks very much.

I am in Ireland and i am maintaining a Deposit Account with AIB (Allied irish Bank). It is none of the above mentioned. At first Instance, I had 'Deposit Plus Account - 7 days notice' but i read here in this forum that HO have rejected few cases when there was some notice required to withdraw money.

So I closed that account and I have opened new bank account 'Deposit Account' where i can withdraw and lodge money at any time and i dont need to give any notice to the bank. This is just like Current account and i am not earning any interest in this account.


I hope this should be fine.


Thanks to all of your , Chetan, Push, and Rames.


Cheers

[tvn_ramesh]

@UValue:

My pleasure, if that is helpful to you...

wat you can do to make sure things are solid and favour u is along with the Bankstatements for the Maintenance funds.. try to get a supporting letter from the bank stating something like u mentioned..

'Deposit Account' where i can withdraw and lodge money at any time and i dont need to give any notice to the bank. This is just like Current account and i am not earning any interest in this account.

Goodluck..