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  • FIRST POST
    • Hattie625
    • By Hattie625 22nd Jun 17, 11:12 AM
    • 555Posts
    • 416Thanks
    Hattie625
    Ulster Bank: Easy Access Savings Account at 1.25% pa
    • #1
    • 22nd Jun 17, 11:12 AM
    Ulster Bank: Easy Access Savings Account at 1.25% pa 22nd Jun 17 at 11:12 AM
    Ulster Bank are now offering an Easy Access savings account paying 1.25% per annum, which easily beats all other offerings for accounts of this type. Funds can be withdrawn anytime with no penalty.

    Opened and operated online. Minimum balance £1, maximum £5 million.

    Available to UK residents of 18 or above (edited to correct age limit; previously incorrectly stated to be 16)

    This would be useful to hold short-term money which is to be drip-fed into a regular saver account (or accounts).



    (This has been mentioned on the Instant Access Savings Account Discussion thread, but I thought a separate thread would be useful to highlight this account).

    EDITED TO ADD (28 JULY, FURTHER EDITED 6 AUGUST)


    Before applying online to open this account, please be aware that the online opening process can be slow and it may be several weeks before you are in a position to fully operate the account (That said, my account was up and running within 2-3 weeks of initial application; while this is certainly slower than other savings account offerings, it was not undue and worth the wait).

    PLEASE ALSO BE AWARE OF THE FOLLOWING:-

    To withdraw funds from the account to another (non Ulster Bank) account, you require an Ulster Bank Anytime Banking card, a PIN for that card and a card reader. You need to apply for a card reader online (it will not be automatically sent). You should apply as soon as you have online access to the account. According to the Ulster Bank information for this account, an Anytime Banking card and PIN will automatically be sent to you when you apply for a card reader. However some people on this thread are reporting unacceptable delays in receiving the card, PIN or card reader, or UB denying that an online order was made. (Note:- if you have the card and PIN, it has been reported on this thread that a card reader issued by another bank will work to enable you to withdraw funds from this account). It has also been reported that you can use the Ulster Bank mobile phone app to withdraw (up to) £250 per day to another account without requiring the card, card reader and PIN. It is suggested that you do not rely on this but follow the commonsense rule which follows in bold lettering DO NOT LODGE FUNDS INTO THIS ACCOUNT UNTIL YOU ARE IN POSSESSION OF THE CARD, PIN AND A CARD READER AS IT WILL NOT BE POSSIBLE TO WITHDRAW FUNDS (BEYOND £250 PER DAY AFTER THE INCONVENIENCE OF DOWNLOADING AND USING THE MOBILE PHONE APP) UNTIL YOU HAVE THESE.
    Last edited by Hattie625; 06-08-2017 at 9:54 AM. Reason: Correction
Page 1
    • alanq
    • By alanq 22nd Jun 17, 11:23 AM
    • 3,718 Posts
    • 2,381 Thanks
    alanq
    • #2
    • 22nd Jun 17, 11:23 AM
    • #2
    • 22nd Jun 17, 11:23 AM
    Available to UK residents of 16 or above.
    Originally posted by Hattie625
    "You'll need to be 18 or over and a UK resident"
    http://digital.ulsterbank.co.uk/personal/savings/instant-access-accounts/eSavings.html
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • Morus193
    • By Morus193 22nd Jun 17, 12:13 PM
    • 12 Posts
    • 0 Thanks
    Morus193
    • #3
    • 22nd Jun 17, 12:13 PM
    • #3
    • 22nd Jun 17, 12:13 PM
    Would this account appear and work on the RBS app if opened?
    • LuxuryWoman
    • By LuxuryWoman 22nd Jun 17, 12:23 PM
    • 61 Posts
    • 40 Thanks
    LuxuryWoman
    • #4
    • 22nd Jun 17, 12:23 PM
    • #4
    • 22nd Jun 17, 12:23 PM
    I'm just opening one of these for house sale proceeds, they need to do a few more checks as I've just moved into a rental, but the initial application was easy.
    • fwor
    • By fwor 22nd Jun 17, 1:22 PM
    • 5,860 Posts
    • 3,918 Thanks
    fwor
    • #5
    • 22nd Jun 17, 1:22 PM
    • #5
    • 22nd Jun 17, 1:22 PM
    Does anyone know if Ulster Bank uses Faster Payments for transfers out of the account?

    One of the problems I've had with, for example, RCI, is that their withdrawals process can be a bit protracted - IIRC you have to invoke the transfer before 10am for same day transfers to work - otherwise it's "next working day".
    • roddydogs
    • By roddydogs 22nd Jun 17, 2:24 PM
    • 5,908 Posts
    • 2,457 Thanks
    roddydogs
    • #6
    • 22nd Jun 17, 2:24 PM
    • #6
    • 22nd Jun 17, 2:24 PM
    Great, but I bet if I transfer my money, they'll drop the rate, just like West Brom BS have!
    • johnwhy
    • By johnwhy 22nd Jun 17, 3:00 PM
    • 8 Posts
    • 5 Thanks
    johnwhy
    • #7
    • 22nd Jun 17, 3:00 PM
    New Ulster Bank Savings Account 1.25%
    • #7
    • 22nd Jun 17, 3:00 PM
    This is information for anyone trying to open the New 1.25% On-line Savings account with Ulster Bank.
    It says you can use your Driving Licence for identification when applying for the account. At present this is not an option as you can only use either a Valid Passport or EU Card. (my passport ran out).
    I reported this issue to Ulster Bank yesterday 21/6/17.

    Hopefully they will sort it out soon.

    Thank you.
    • alanq
    • By alanq 22nd Jun 17, 3:01 PM
    • 3,718 Posts
    • 2,381 Thanks
    alanq
    • #8
    • 22nd Jun 17, 3:01 PM
    • #8
    • 22nd Jun 17, 3:01 PM
    How is it that Ulster Bank which is part of the RBS group can offer much better rate than NatWest which is part of the same group?

    Something to do with the IT meltdown a couple of years back damaging the Ulster Bank brand even more than that of RBS?
    Last edited by alanq; 22-06-2017 at 3:11 PM.
    I'm a Board Guide on the Budgeting and Bank Accounts, Savings & Investments, Food Shopping and Over 50s MoneySaving boards. I'm a volunteer to help the boards run smoothly, and I can move and merge threads there. Any views are mine and not the official line of moneysavingexpert.com. Board guides are not moderators. If you spot an inappropriate or illegal post then please report it to forumteam@moneysavingexpert.com
    • tg99
    • By tg99 22nd Jun 17, 4:52 PM
    • 492 Posts
    • 211 Thanks
    tg99
    • #9
    • 22nd Jun 17, 4:52 PM
    • #9
    • 22nd Jun 17, 4:52 PM
    Does anyone know if Ulster Bank uses Faster Payments for transfers out of the account?

    One of the problems I've had with, for example, RCI, is that their withdrawals process can be a bit protracted - IIRC you have to invoke the transfer before 10am for same day transfers to work - otherwise it's "next working day".
    Originally posted by fwor
    I asked them this before opening my account and they said they do use FPS for outgoing payments so in theory should turn up more or less instantaneously. Not been able to test it yet though as account only just opened. Max £20k per working day allowed to be transferred out.
    • fwor
    • By fwor 22nd Jun 17, 5:45 PM
    • 5,860 Posts
    • 3,918 Thanks
    fwor
    I asked them this before opening my account and they said they do use FPS for outgoing payments so in theory should turn up more or less instantaneously. Not been able to test it yet though as account only just opened. Max £20k per working day allowed to be transferred out.
    Originally posted by tg99
    Thanks - I can live with the £20k per day. I might give them a go then (but staying ready to ditch them immediately if they do a quick rate drop!).
    • veryintrigued
    • By veryintrigued 22nd Jun 17, 9:24 PM
    • 2,026 Posts
    • 1,265 Thanks
    veryintrigued
    How is it that Ulster Bank which is part of the RBS group can offer much better rate than NatWest which is part of the same group?
    Originally posted by alanq
    Its the influence of the DUP already!
    • Heng Leng
    • By Heng Leng 23rd Jun 17, 5:02 AM
    • 4,100 Posts
    • 1,254 Thanks
    Heng Leng
    Would this account appear and work on the RBS app if opened?
    Originally posted by Morus193
    No, It's just another bank within the RBS group (like NatWest)
    • buffman
    • By buffman 23rd Jun 17, 1:06 PM
    • 361 Posts
    • 186 Thanks
    buffman
    I have just opened up a new eSaver. Process took about 5 minutes. I immediately received my account number and was able to register for online banking. However on accessing my online banking, I discovered that my new account was not yet visible. Does anyone know how long this will take? Their customer service department says 6 days!
    • bob792
    • By bob792 23rd Jun 17, 1:30 PM
    • 92 Posts
    • 49 Thanks
    bob792
    Does anyone know how long this will take?
    Originally posted by buffman
    I opened my account the evening before last. I could login yesterday morning but not access any account details. It's all up and running this morning and I've ordered my card reader so I can move money out - looks like it provides faster payments out to multiple accounts.
    • tg99
    • By tg99 23rd Jun 17, 4:56 PM
    • 492 Posts
    • 211 Thanks
    tg99
    Mine was visible the next day.
    • derrick
    • By derrick 24th Jun 17, 9:12 AM
    • 6,926 Posts
    • 2,251 Thanks
    derrick
    Has anyone managed to open this without a passport? Mine has expired, (3 years ago and no intention of renewing).

    I tried yesterday and despite saying on a couple of pages UK DL acceptable there is no way to input it on the application form.

    I tried yesterday on the phone and online chat, they say they are aware of it but could not help.


    .
    Don`t steal - the Government doesn`t like the competition


    • eskbanker
    • By eskbanker 24th Jun 17, 11:46 AM
    • 5,466 Posts
    • 5,269 Thanks
    eskbanker
    Has anyone managed to open this without a passport? Mine has expired, (3 years ago and no intention of renewing).

    I tried yesterday and despite saying on a couple of pages UK DL acceptable there is no way to input it on the application form.

    I tried yesterday on the phone and online chat, they say they are aware of it but could not help.
    Originally posted by derrick
    ....as is anyone else who read post #7 above!
    • Wheres My Cashback
    • By Wheres My Cashback 24th Jun 17, 1:20 PM
    • 2,718 Posts
    • 33,447 Thanks
    Wheres My Cashback
    Account opened in 5 mins online, could immediately login, though account details were not not available to show until after the overnight run at 0200. 2 x FP sent today and both were visible instantly.
    • Heng Leng
    • By Heng Leng 25th Jun 17, 6:20 AM
    • 4,100 Posts
    • 1,254 Thanks
    Heng Leng
    They use RBS systems, so I'm wondering why people are so surprised they operate in a similar way i.e. not a Micky Mouse bank like RCI

    NI have a their own version of the DVLA so their system may only be setup for that DL format.
    • bigadaj
    • By bigadaj 25th Jun 17, 8:22 AM
    • 9,912 Posts
    • 6,327 Thanks
    bigadaj
    They use RBS systems, so I'm wondering why people are so surprised they operate in a similar way i.e. not a Micky Mouse bank like RCI

    NI have a their own version of the DVLA so their system may only be setup for that DL format.
    Originally posted by Heng Leng
    Not Micky mouse as in solvent?
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