Rabobank has a top rating for creditworthiness, awarded by Moody's, Standard & Poor's, Fitch and Dominion Bond Rating Service and consistently maintains these ratings.

RaboDirect is the brand name of the internet bank that is part of Rabobank's Dublin branch. Accordingly RaboDirect has the same creditworthiness.

Rabobank is a member of (a) the Dutch Deposit Guarantee System and (b) the Dutch Investor Compensation Scheme, implemented by the Financial Supervision Act 2007 and related decrees. Broadly speaking, the Dutch Deposit Guarantee System deals with money - deposits in current and savings accounts - while the Dutch Investor Compensation Scheme is about securities held on your behalf by Rabobank. The Deposit Guarantee System and the Investor Protection Scheme will only become applicable if Rabobank enters into bankruptcy proceedings.

(a) Dutch Deposit Guarantee System

The Dutch Deposit Guarantee System guarantees the interests of account holders, and applies to deposits in current and savings accounts.  Under the Deposit Guarantee Scheme, if Rabobank is unable to meet its obligations to repay a customer's balance, the customer is guaranteed to be repaid 100% of the first €100,000 of his balance. In the case of a joint account, the maximum amount of €100,000 set out above applies to each joint account holder and so a joint deposit of €200,000 is fully covered if the depositors have no other accounts.

You can read more about the Dutch Deposit Guarantee System on the De Nederlanche Bank website.

(b) Dutch Investor Compensation Scheme

As a supervised Dutch bank, Rabobank is required to safeguard your securities and other financial instruments. This means that your securities are separated from the assets of the bank. Even if Rabobank goes out of business, you remain fully entitled to your assets. Practically speaking, you would have to instruct Rabobank to transfer your assets to another broker or bank. In the unlikely event that your assets are not identifiable anymore and have become part of the bankruptcy estate, the Dutch Investor Compensation Scheme may become applicable. If Rabobank is unable to meet its obligations to investor customers, the investor compensation scheme guarantees an amount up to €20,000. Note that loss caused as a consequence of a fall in the value of investments is not itself eligible for compensation.

(c) Procedure

If Rabobank goes out of business, the Dutch Central Bank ('DCB') will start the compensation process. Certain information is available on the website of the DCB (www.dnb.nl) in relation to the Deposit Guarantee Scheme and the Investor Compensation Scheme. Parts of this site are also accessible in the English language.

(d) Which RaboDirect customers may benefit from the Deposit Guarantee Scheme and the Investor Compensation Scheme?

Subject to very limited exceptions, in the unlikely event that Rabobank enters bankruptcy proceedings, the following types of RaboDirect customers may benefit from the Deposit Guarantee Scheme and the Investor Compensation Scheme:

(i) personal customers;
(ii) sole traders;
(iii) partnerships;
(iv) companies who satisfy at least two of the following conditions:

(A) a balance sheet total that does not exceed €4,400,000 per year;
(B) a net turnover not exceeding €8,800,000 per year; and
(C) a workforce not exceeding 50 people in the financial year.

This is a popular one! For on demand personal savings we're offering a rate of 3.10% Fixed, gross/AER** for amounts from €0 to €20,000 effective until 2/04/12 with the Standard variable rate applying thereafter. A Standard variable rate of 2.4% Gross/AER** on remaining amounts above €20,000.

All business money gets a straight rate of 1.90%* on their Business Savings.
 

*1.90% Variable. AER. May be subject to DIRT. Interest calculated on a monthly basis at a rate of 1.88%. Effective from the 18th April 2011

We have many accounts at RaboDirect, to select an account of your choice click 'Open an account'

First you'll need to deliberately block your Digipass by entering the wrong PIN number five times. Then download this form. Print and fill it in and post it to:

RaboDirect
FREEPOST F4006
PO Box 10152
Dublin 2

or fax to 01-6599760.

When filling in the form the 'Code Lock' is the number that appears on the display of the Digipass after you've entered the wrong PIN five times and the serial number can be found on the back of the Digipass.

Once we receive the form, we'll post you out a reset code which allows you to chose a new PIN number and you'll be good to go again. 

To request a replacement Digipass, you will need to print and sign this form and send it to our freepost address:

RaboDirect
FREEPOST F4006
PO Box 10152
Dublin 2

or alternatively fax it to: 01 659 9760

We take online banking security very seriously, if your Digipass is lost or stolen, you should contact us immediately.

Personal customers should email us at info@rabodirect.ie, Business customers should email us at business@rabodirect.ie or phone our Contact Centre on 1850 88 22 44, our offices are open 8am to 7pm Monday to Friday.

If our office is closed please leave us a voice message with your customer number, name and contact number, we will check to ensure your accounts are secure and contact you when we are back in the office.

First you need to log in to your account using your Digipass

Once logged in click on 'Transfer Money' and then 'Transfer Money Out'.

In the 'Transfer money out' screen you must do the following selections. In the 'From account' drop down select the account you wish to take the funds from i.e. your RaboDirect Savings Account.

For the 'To account' option, select 'Your account', 'Choose payee' or 'Add a new payee'.

On the 'Add a new payee' screen, enter the Sort Code, Account number and Name of the Account Holder in the boxes provided. Tick 'Save this payee' if you wish to use this account again.

Select when you would like to transfer the money - 'As soon as possible' or 'Pick a date'.    

Input the amount you wish to transfer.

The 'Description/reference' box is optional and acts as a reference for the beneficiary. Note: If you are transferring to a building society or a credit card you must put your own account or card number here.

Click on 'Next' and authorise the payment by signing it with your Digipass just follow the instructions on the screen.

Your transfer is only successful when you see the message:

Your transfer has been completed. Transaction reference AXXXXXX

Payments processed on business days before 15:00hrs are sent on the payment date as instructed by you and will arrive with the beneficiary bank by the next business day. RaboDirect does not charge you for making payments on your account.

1. If you already have internet or telephone banking with your main bank, give them your Sort Code and your RaboDirect Savings Account number and arrange the transfer with them. When we receive the funds, we will credit them to your account the same business day

2. Set up a Rabo Money Mover with us which allows you to deposit regular or one-off amounts to your RaboDirect Savings Account. Your money will leave your main bank account on the date you selected and will credit your RaboDirect Savings Account by the next business day

3. You could also do a same day money transfer. To do this you require your IBAN code, which can be located on your RaboDirect Statement, you will also require our Swift code and holding account number, to receive this, please ring our Contact Centre on 1850 88 22 44 (Please note your bank can charge you a fee for this service)
   

4. Send us a cheque or a draft at any time, made payable to yourself. Ensure the cheque is crossed and note your Customer Number and your Savings Account Number on the back. Our address is:
   RaboDirect, Freepost F4006, PO Box 10152, Dublin 2. Please note from the day your cheque is lodged it will take 6 working days to clear. 

5. As of the 28th January 2008, SEPA (Single European Payments Area) was introduced, RaboDirect will accept SEPA payments from other E.U. Countries, within the Eurozone. Transfers via SWIFT from other E.U. Countries cannot be accepted.
   
   
   To process a SEPA payment the following information will be required by your bank in the EU: RaboDirect BIC Code: RABIIE21 and your RaboDirect IBAN number, which can be located on your RaboDirect Statement. 

   Please be aware that it is not possible to conduct transfers outside of the Republic of Ireland from your RaboDirect Accounts. External transfers can be made to domestic Irish bank accounts only.

   
    

It takes 6 working days to clear a cheque but the good news is that if you have asked us to lodge it to your 'Savings Account', you will earn interest for 5 of those days.

It is not possible to transfer funds outside of the Republic of Ireland from your RaboDirect Accounts. Transfers out of your RaboDirect accounts can only be made to domestic bank accounts.

Note: This FAQ is only relevant to existing RaboDirect customers who opened their account prior to 7th February 2008.

A RaboDirect Current Account is a transaction account which we automatically set up for you. It allows you to move money from your RaboDirect Savings account to any bank account held with a financial institution (bank, building society etc) in the Republic of Ireland.

Note: Remember, no interest is earned on this account so don't leave your savings sitting in this Current Account earning nothing. Move them to your RaboDirect Savings Account

Click on the fund selector in any area of our site and you'll see a full list of the managed funds we have available. To start buying, log into your account and click on 'Purchase a fund' or 'Fund Selector'.

If you click the fund names, you'll get up-to-date factsheets with lots of information to help you decide which funds are right for you. Once you've decided, click the orange 'Buy' button next to the fund you want.

All your purchases and sales will be listed on your online statement.

Note: We don't send you out statements in the post, but you can view and print them off online.   

1. To view or print your statement, log into your account online with your Digipass.

2. Click on Download Statements in the left hand navigation.

3. Select the relevant account and enter the date(s) for the transactions you wish to view and then click on "Search".

4. On the next sceen you'll see an orange download button. Click the download button to generate your statement.

5. A headed statement will open and you can view or print this off.
   

We'd hate to see you go, but if you must you should log on to your account online and transfer the balance out of your account. Then you will need to download and complete the account closure form.  We will transfer any outstanding interest owed to you to the account nominated by you on the closure form. Remember: If it's a joint account you're closing, both of you will need to sign the letter.

Post this letter to us at RaboDirect, FREEPOST F4006, PO Box 10152, Dublin 2. 

Once your account is closed, a confirmation letter will be sent to your home address.