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CHILDCARE
SAVINGS ACCOUNTS
A Range of Direct Credit Savings
Options for Child Benefit Clients:
Childcare Plus
Childcare Savings Account
CHILDCARE PLUS
This is a unique longer term savings account. It is part of An
Post's Instalment Savings Scheme and pays a high rate of tax-free
interest. It is ideal for providing for longer term financial
needs such as children's education.
Here's how it works:
Lodgements into the Account:
Your Child Benefit monthly payments will be lodged by Direct Credit
into your account. No other type of lodgements may be made into
the account.
Your montly Direct Credit child benefit
payments cannot be split. If there is more than one child, full
payment must be lodged to the account. On the birth of the second
or more children, the payments will be automatically updated to
the account.
Interest:
After every 12 months the total amount of the Direct Credit lodgements
involved will begin to earn interest at the following cumulative
rates:
2.0% after year 1
4.0% after year 2
6.6% after year 3
10.0% after year 4
15.0% after year 5
Withdrawals:
While Childcare Plus is intended as a long term savings account,
withdrawals can be made subject to 7 working days notice.
CHILDCARE SAVINGS ACCOUNT
This is a convenient savings account which allows you easy access
to your savings in addition to paying an attractive rate of interest.
It is ideal for providing for Christmas, back to school or other
regular heavy spending occasions.
The features of the account are:
Statement Based:
On transfer of your first Direct Credit Child Benefit payment
you will receive an opening statement of your account and a book
of personalised lodgement dockets which can be used for lodgements
other than Direct Credit. Subsequently you will receive a statement
detailing transactions on your account.
Self Tracking:
As part of your statement there is a facility for you to record
all your transactions for reconciliation purposes.
Withdrawals:
You may withdraw any amount from your account at 7 working days
notice by completing a notice of withdrawal which is available
at your local Post Office.
Interest Rate:
This account pays the same gross rate of interest as An Post's
Deposit Account. D.I.R.T. is deducted at Standard Rate.
Please Note:
Your montly Direct Credit child benefit payments cannot be split.
If there is more than one child, full payment must be lodged to
the account. On the birth of the second or more children, the
payments will be automatically updated to the account.
How To Apply
1. Carefully select the account you
wish to apply for.
2. Fill out the appropriate application
form and declaration available at your local Post Office.
3. For first time Child Benefit Recipients:
Simply enclose the above completed
form in an envelope and send it FREEPOST to the address below,
along with the birth certificate.
4. Existing Child Benefit Recipients
Send the completed form and your
Child Benefit book to:
An Post
Savings and Investments
Inpayments Section
Childcare Accounts
College House
Townsend Street
FREEPOST
Dublin 2
We will process your application
and forward it to the Department of Social Community and Family
Affairs.
For further information please contact
our Customer Information Freephone 1800-30-50-60
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