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  • FIRST POST
    • Hattie625
    • By Hattie625 22nd Jun 17, 11:12 AM
    • 618Posts
    • 481Thanks
    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 Funds can be withdrawn anytime with no penalty.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 21
    • soulsaver
    • By soulsaver 9th Sep 17, 11:28 PM
    • 1,455 Posts
    • 514 Thanks
    soulsaver
    I called up to try and withdraw money over the phone, the lady said I need to request an authorisation code.
    Called again, made a complaint. The complaints dept can do nothing.
    Now I am stuck. All my savings in this account, cannot take money out of it.
    Originally posted by KingKenny
    Have you ordered a card reader? Once card reader is ordered a 2nd level of security is initiated & telephone banking is enabled.
    It's worked twice for me as they had to issue a 2nd & 3rd customer number 'cos anytime card issues.

    And I managed to download the app & set up a payee and withdraw £250 all within approx. 15 minutes.
    • KingKenny
    • By KingKenny 10th Sep 17, 10:13 AM
    • 210 Posts
    • 20 Thanks
    KingKenny
    Have you ordered a card reader? Once card reader is ordered a 2nd level of security is initiated & telephone banking is enabled.
    It's worked twice for me as they had to issue a 2nd & 3rd customer number 'cos anytime card issues.

    And I managed to download the app & set up a payee and withdraw £250 all within approx. 15 minutes.
    Originally posted by soulsaver
    Yes i can login. I ordered a card reader.I have downloaded the app. Set it up. But it says i have recently changed my pin and password. Yesterday so i must wait 72 hours to withdraw £250.
    Maybe i should call them today.
    Cheers buddy.
    • RG2015
    • By RG2015 10th Sep 17, 1:34 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    I initially applied for my account on Sunday 6th Aug but after going through the online process a screen appeared saying that the system was not available. I assumed that here was a problem with it being Sunday.

    I applied again on Monday 7th Aug and had online access and paid money in on 8th Aug. I received my app activation code on 11th Aug and successfully transferred £1 out as a test.

    On 14th Aug I realised that the anytime card was only sent out when a card reader was requested. I requested the reader on 14th Aug and it arrived on 17th Aug. I received my PIN on 4th Sept with a letter dated 15th Aug!

    I am now just awaiting my anytime card which must have been produced as my letter and online banking quote the last 4 digits of the card number.

    The question is how long do I wait before contacting Ulster Bank? I have heard here that if people complain they are locking them out and sending out new cards and PINs and generally making things even worse.
    • RG2015
    • By RG2015 10th Sep 17, 2:31 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    I have just noticed on Clearscore/Experian that Ulster Bank carried out two ID AML checks. The first on Sun 6th Aug on the online application that was aborted by Ulster Bank and another on Mon 7th August.

    They also carried out a check with Experian on 7th August but there is no record of an Experian search on 6th Aug.

    I really do hope that Ulster Bank don't reduce the 1.25% pa rate for at least a year after all the hassle everyone has had with them. Twenty-one pages on one thread for a savings account must be some sort of record!
    • soulsaver
    • By soulsaver 10th Sep 17, 4:41 PM
    • 1,455 Posts
    • 514 Thanks
    soulsaver
    I am now just awaiting my anytime card which must have been produced as my letter and online banking quote the last 4 digits of the card number.

    The question is how long do I wait before contacting Ulster Bank? I have heard here that if people complain they are locking them out and sending out new cards and PINs and generally making things even worse.
    Originally posted by RG2015
    As I understand it, if they believe the AT card has been lost they have no choice but to order both card & pin because the pin is tied to the AT card, not stored centrally like a debit card pin is.

    Edit: PS I'd give it a few more days, mine was more than a week apart.
    Last edited by soulsaver; 10-09-2017 at 4:44 PM.
    • Eboracum
    • By Eboracum 11th Sep 17, 4:33 PM
    • 1 Posts
    • 1 Thanks
    Eboracum
    I applied to open this account on 1st August and I although I have received the card reader and PIN number I still haven't received a card. When I phoned them up today to ask if it had been sent I was told the long delay was because they had run out of cards. Meanwhile the money I deposited is trapped in the account apart from £250 a day withdrawal on the app. Their customer service department say there is nothing they can do about it they are unhelpful to say the least.
    Last edited by Eboracum; 11-09-2017 at 4:39 PM.
    • RG2015
    • By RG2015 11th Sep 17, 5:22 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    I applied to open this account on 1st August and I although I have received the card reader and PIN number I still haven't received a card. When I phoned them up today to ask if it had been sent I was told the long delay was because they had run out of cards. Meanwhile the money I deposited is trapped in the account apart from £250 a day withdrawal on the app. Their customer service department say there is nothing they can do about it they are unhelpful to say the least.
    Originally posted by Eboracum
    This is actually quite helpful to me as I too am just awaiting my card. At least I know now that they have run out of cards.
    • Clare911
    • By Clare911 13th Sep 17, 10:42 AM
    • 3 Posts
    • 1 Thanks
    Clare911
    Got mine 3-4 working days after opening.
    Originally posted by tg99
    I've been waiting since mid July. After numerous calls to them, (they don't send anything automatically) I am now the proud possessor of a card reader and a PIN number but no card. You need all three to access your money for an amount above £250.

    So I'm finally giving up and closing my 'instant access' account today by writing a letter to them, the only way to do so, so they told me. I deposited all my savings and have been unable to access them. Sending the letter recorded delivery as have no confidence whatsoever with this Bank.

    My advice is STAY AWAY IF YOU VALUE YOUR PEACE OF MIND!!
    • Tawny_Owl
    • By Tawny_Owl 13th Sep 17, 3:32 PM
    • 32 Posts
    • 27 Thanks
    Tawny_Owl
    Second time lucky
    Just received my 2nd card & PIN.
    Pleased to say that it works this time !!!
    Managed to transfer some money out of UB, then received a text message stating "I've set up a new payee".

    If they can manage to send automated text messages OK, then surely they can send One Time Access codes and do away with card readers etc ???

    Probably cheaper as well. But since UB/RBS are owned by the taxpayer, I don't suppose they've got any motivation to reduce operating costs. How cynical I am !!
    • Gingerdiana
    • By Gingerdiana 13th Sep 17, 3:33 PM
    • 2 Posts
    • 0 Thanks
    Gingerdiana
    It also took me almost 2 months to open the account - again started in mid July. Eventually received all the bits and pieces required to use it and then couldn't make sense of it. Been going round in circles for ages. I too will write a letter to close it. I was too afraid to put anything in just in case I couldn't get it out again!
    • RG2015
    • By RG2015 13th Sep 17, 3:47 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    It also took me almost 2 months to open the account - again started in mid July. Eventually received all the bits and pieces required to use it and then couldn't make sense of it. Been going round in circles for ages. I too will write a letter to close it. I was too afraid to put anything in just in case I couldn't get it out again!
    Originally posted by Gingerdiana
    OMG After waiting two months you've got your ID verified, received your account number, sort code, card reader, anytime card, PIN, activation code, online banking, mobile app and now you're going to write them a letter to close the account!
    • eskbanker
    • By eskbanker 13th Sep 17, 4:10 PM
    • 5,815 Posts
    • 5,707 Thanks
    eskbanker
    Probably cheaper as well. But since UB/RBS are owned by the taxpayer, I don't suppose they've got any motivation to reduce operating costs. How cynical I am !!
    Originally posted by Tawny_Owl
    Sounds more like cliched lazy tabloid-style muddled thinking than cynicism to me - while it's undeniably true that a large stake in RBS is held by UK Financial Investments, a semi-autonomous company set up by the government to manage its stake in banks, there is nothing to suggest that the bank is run as anything other than a commercial operation* rather than a genuinely nationalised entity.

    If they weren't interested in reducing costs, why do you think they're outsourcing jobs to India (and consequently attracting plenty of understandable criticism for doing so) when a nationalised industry would be somewhat unlikely to do this?


    * Apart from continuing losses of course, but that's a different issue....
    • RG2015
    • By RG2015 13th Sep 17, 5:41 PM
    • 501 Posts
    • 240 Thanks
    RG2015
    From the Guardian on Monday 4th September including Ulster Bank comment;

    "It seems Ulster Bank was inundated by savers after offering one of the best savings rates around – so inundated it could not cope with demand. Happily, someone at head office quickly got on the case and you have now been sent your reader. The bank has apologised and paid you £200 compensation.

    Ulster says that it has now cleared the backlog and all services should be back to normal."


    Backlog cleared? I think not, but £200 compensation sounds good.

    https://www.theguardian.com/money/2017/sep/04/ulster-bank-card-reader-online-account
    • Gingerdiana
    • By Gingerdiana 13th Sep 17, 9:38 PM
    • 2 Posts
    • 0 Thanks
    Gingerdiana
    Yes, I am going to close the account. Said my sort code was incorrect, said my Member no was incorrect - what's the point?
    • colsten
    • By colsten 15th Sep 17, 5:31 PM
    • 8,792 Posts
    • 7,469 Thanks
    colsten
    Apparently any hard credit searches will now be wiped: http://forums.moneysavingexpert.com/showpost.php?p=73130498&postcount=1
    • RG2015
    • By RG2015 16th Sep 17, 8:09 AM
    • 501 Posts
    • 240 Thanks
    RG2015
    I have just received an email from Ulster Bank that includes the following statement.

    "Some eSavings customers have been telling us they received a 'wrong PIN' message when they tried to use their Anytime Banking card online.
    We're very sorry about this, and will be issuing you with a new card and PIN. These should arrive separately (for security reasons), over the coming week."

    Five weeks after ordering the card reader I still have not received the first card. What are the chances I will receive two cards next week?
    • Mr K
    • By Mr K 18th Sep 17, 2:56 PM
    • 1,107 Posts
    • 659 Thanks
    Mr K
    Cripes. Was looking at this account but won't bother as it seems like far too much hassle for an extra fraction of a percent.
    • veryintrigued
    • By veryintrigued 18th Sep 17, 6:22 PM
    • 2,100 Posts
    • 1,370 Thanks
    veryintrigued
    http://forums.moneysavingexpert.com/showpost.php?p=72909247&postcount=185


    I hardly dare mention the format, frequency and distance between holes of the paper statements when you people with issues receive them - it'll need an extended Watchdog episode this...
    Originally posted by veryintrigued
    An email today suggests those of us who've opted for paperless might not be receiving these from now on....hopefully.
    • SouthLondonUser
    • By SouthLondonUser 18th Sep 17, 10:32 PM
    • 337 Posts
    • 49 Thanks
    SouthLondonUser
    A quick summary of my experience.
    On July 31st I applied for a CharterCourt ISA and for an Ulster saving account. My ChaterCourt account was up and running in 2 days. It is now Sept 18th and I still do not have access to the ***** Ulster account!

    I called to chase at the end of August and they told me they had a backlog. I called again a few days ago; they said they had texted me an activation code. Nope, didn't receive it. They said they'd send me a new one in the post. It arrived by text. I try to use it to register online. I get a warning that it is quicker to register if I have a debit card - but over the phone they told me I need to register in order to order a debit card! The website asks for my sort code and acct #. The problem is, they told me the sort code via email, but not the account number - only the last 4 digits. So tomorrow I have to call, listen to their beautiful jingle for the nth time, and hope to sort this out.
    At this point I am so fed up that I will probably open a Shawbrook account and put my
    savings there. I am afraid I might still need to go through the painful registration procedure with Ulster Bank because in order to close my account, though. Honestly, who the hell designed these processes???
    • RG2015
    • By RG2015 23rd Sep 17, 11:25 AM
    • 501 Posts
    • 240 Thanks
    RG2015
    I have just received an email from Ulster Bank that includes the following statement.

    "Some eSavings customers have been telling us they received a 'wrong PIN' message when they tried to use their Anytime Banking card online.
    We're very sorry about this, and will be issuing you with a new card and PIN. These should arrive separately (for security reasons), over the coming week."

    Five weeks after ordering the card reader I still have not received the first card. What are the chances I will receive two cards next week?
    Originally posted by RG2015
    Yes, I have received two cards in the post this morning (Sat 23rd Sept). The accompanying letters are dated 21st Aug and 14th Sept.

    Having received my PIN for the second card two days ago I am now fully up and running 47 days after opening the account.
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