RaboSaver
Yes. You can open up to five PurposeSaver accounts which allow you to separate your savings if you have several goals in mind.
To open a PurposeSaver account:
- Log into Rabobank Online Savings
- Click on ‘Accounts’ tab and scroll to the bottom of the page
- Click on ‘Open a new savings account’
- Then follow the instructions to open a PurposeSaver account
- Click 'Confirm'
Note: For legal and tax purposes these accounts will be in the same name as your RaboSaver account. To open an account in a different legal name you will need to complete an application for a new Rabobank Online Savings account.
This depends on how the funds are transferred to your account.
If you transfer funds into your account using the Rabobank online banking system, a clearance period of three business days will apply. This is because the funds are direct debited from your Nominated Account and we need to ensure that the transaction will not be dishonoured before we make the funds available to you.
You will start earning interest immediately but you will not be able to transfer the funds until the funds have cleared.
If funds are transferred to your account using the services of another bank there is no clearance period. The funds will be available to use as soon as they reach your account.
Transferring funds in
When you open an account with us, you are asked to accept our online direct debit authority. This allows you to transfer funds into Rabobank from your nominated bank account, all within our online banking system.
You can of course make deposits from any other bank account you hold, or have other people/organisations deposit funds into your account. Just use the facilities of your other bank or provide your account number to the other party.
As an online bank, it is not possible to make cash deposits.
Transferring funds out
When you withdraw funds they must always go back to your Nominated Account.
To make a transfer in or out:
- Log into Rabobank Online Savings
- Click on 'Transfer money'
- Select the 'From' and 'To' accounts
- Enter the transfer details e.g. date and amount.
- Confirm the transfer by following the on-screen instructions
Interest is calculated daily and paid to your RaboSaver account on the last business day of the month. The payment will be available to you on the first day of the new month.