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  • FIRST POST
    • Hattie625
    • By Hattie625 22nd Jun 17, 11:12 AM
    • 574Posts
    • 444Thanks
    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 Funds can be withdrawn anytime with no penalty.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 4
    • steve65e
    • By steve65e 11th Jul 17, 10:14 AM
    • 136 Posts
    • 87 Thanks
    steve65e
    11 days in and the only communication I've had is a request for my signature. Hopeless service, I'm going to forego the extra 0.15% and put my money elsewhere.
    • miller
    • By miller 11th Jul 17, 10:24 AM
    • 1,186 Posts
    • 395 Thanks
    miller
    Despite the frustrations in this thread, I'd stick with it (you could always put the money elsewhere until you are able to make a withdrawal). Once you are up and running you probably wont need much service so to speak and can manage it all on your own.

    When NatWest did an eSavings account, once it was setup it actually worked OK with Faster Payments etc.
    • TiVo_Lad
    • By TiVo_Lad 11th Jul 17, 10:32 AM
    • 10 Posts
    • 6 Thanks
    TiVo_Lad
    Just be aware of a few thing with this account:
    1. It takes a few days for the account to appear. Ulster Bank is an old fashioned "overnight" bank so everything gets batch processed overnight during "working days" only. I opened the account over the weekend and it took until Tuesday to appear. If you try and transfer money in beforehand it just fails even though you have the Account No and Sort Code.
    2. Ulster Bank supports Faster Payments both inbound and outbound. For those moving from RCI Bank (as I have) this will be a vast improvement to their two day transfers.
    3. You can't withdraw money (or set up payees) until you have a card and card reader which takes 7-10 days to arrive. If you transfer money in before you get the card reader, it is effectively trapped in the account.
    4. Telephone Banking requires you to use the Card Reader so you're stuck either way.
    5. If/When you want to close the account you have to WRITE A LETTER
    • johnmoney05
    • By johnmoney05 11th Jul 17, 10:59 AM
    • 1,414 Posts
    • 453 Thanks
    johnmoney05
    11 days in and the only communication I've had is a request for my signature. Hopeless service, I'm going to forego the extra 0.15% and put my money elsewhere.
    Originally posted by steve65e
    Tesco is doing 1.11%, so that will be just 0.14%.
    • Wheres My Cashback
    • By Wheres My Cashback 11th Jul 17, 11:00 AM
    • 2,762 Posts
    • 33,670 Thanks
    Wheres My Cashback
    A couple of points...my card reader took 11 days to arrive.

    My 2nd transfer out was blocked by their security team as suspicious even though I was logged in and used the card reader.
    3 hours After noticing the payment had left the account, but not arrived the other end I contacted UB to ask whether it had been held up for security.
    I actually asked them 3 times and they assured me it wasn't stopped for security and would arrive 'soon'. 12 hours later, still not arrived so called again, nightmare wait time for them to answer the call. Standard voicemail message states call time wait is two minutes, actual wait times 23 mins and 32mins. After a lot insisitance by me I was eventually transferred to their fraud team who advised that the funds had been immediately held up on request due security reasons.

    Not a good start to this account, though I have been re-imbursd for my wasted time/effort/call charges/appalling customer service + goodwill.
    • buffman
    • By buffman 11th Jul 17, 11:37 AM
    • 361 Posts
    • 186 Thanks
    buffman
    My card reader took 11 days to arrive, but still no card (nearly three weeks now). Has anyone actually received a card?
    • miller
    • By miller 11th Jul 17, 12:33 PM
    • 1,186 Posts
    • 395 Thanks
    miller
    1. If/When you want to close the account you have to WRITE A LETTER
    Originally posted by TiVo_Lad
    It did say somewhere in the mountain of webpages you could do it by telephone banking. When I closed my NatWest eSavings I went into a branch, not so easy in this case!

    With regard to withdrawals being blocked, I wonder if they had not put the signature on file.
    • eskbanker
    • By eskbanker 11th Jul 17, 12:41 PM
    • 5,577 Posts
    • 5,415 Thanks
    eskbanker
    If/When you want to close the account you have to WRITE A LETTER
    Originally posted by TiVo_Lad
    It did say somewhere in the mountain of webpages you could do it by telephone banking. When I closed my NatWest eSavings I went into a branch, not so easy in this case!
    Originally posted by miller
    According to clause 22.15 (referring to the eSavings account-specific conditions) at http://digital.ulsterbank.co.uk/content/dam/Ulster/documents/ni-region/ni-personal-ulst-brochures/personal-banking-terms-and-conditions-ULST1571NI.pdf:
    If you wish to cancel or close your account you can do this via our Anytime Internet Banking service or by sending a written notice to Ulster Bank eSavings, Customer Service Centre, Danesfort, Stranmillis Road, Belfast BT9 5UB.
    • Archi Bald
    • By Archi Bald 12th Jul 17, 7:01 AM
    • 9,354 Posts
    • 7,412 Thanks
    Archi Bald
    If/When you want to close the account you have to WRITE A LETTER
    Originally posted by TiVo_Lad
    You can give instructions to close a savings account online. I have done this before. They take a few working days to do it.
    • veryintrigued
    • By veryintrigued 12th Jul 17, 8:00 AM
    • 2,041 Posts
    • 1,284 Thanks
    veryintrigued
    You can give instructions to close a savings account online. I have done this before. They take a few working days to do it.
    Originally posted by Archi Bald
    I was tidying my accounts three months ago and tried to close a current account by contacting them online three months ago but was refused. They stated it was by post or at branch.

    So I didn't bother and left my account dormant - which worked in my favour on this account as I was still an online member.
    • darren72
    • By darren72 12th Jul 17, 9:26 AM
    • 1,015 Posts
    • 203 Thanks
    darren72
    I know have access to my online account, but cannot see where to order the card reader and card ?

    Can anyone who has done this please confirm ?

    Thanks in advance
    • johnmoney05
    • By johnmoney05 12th Jul 17, 9:41 AM
    • 1,414 Posts
    • 453 Thanks
    johnmoney05
    I know have access to my online account, but cannot see where to order the card reader and card ?

    Can anyone who has done this please confirm ?

    Thanks in advance
    Originally posted by darren72

    Need to call them!
    • roddydogs
    • By roddydogs 12th Jul 17, 9:44 AM
    • 5,914 Posts
    • 2,460 Thanks
    roddydogs
    I didn't it was a click on the website!
    • darren72
    • By darren72 12th Jul 17, 9:48 AM
    • 1,015 Posts
    • 203 Thanks
    darren72
    I didn't it was a click on the website!
    Originally posted by roddydogs
    Can you remember where ?

    Thanks
    • miller
    • By miller 12th Jul 17, 9:58 AM
    • 1,186 Posts
    • 395 Thanks
    miller
    From the main screen, it's under "Security" (8th down on the left hand side); then under "Using a card-reader" (2nd heading from the top) there is a link "Order a card-reader".
    • darren72
    • By darren72 12th Jul 17, 10:00 AM
    • 1,015 Posts
    • 203 Thanks
    darren72
    From the main screen, it's under "Security" (8th down on the left hand side); then under "Using a card-reader" (2nd heading from the top) there is a link "Order a card-reader".
    Originally posted by miller
    Thanks! - Got it.
    • eskbanker
    • By eskbanker 12th Jul 17, 10:27 AM
    • 5,577 Posts
    • 5,415 Thanks
    eskbanker
    You can give instructions to close a savings account online. I have done this before. They take a few working days to do it.
    Originally posted by Archi Bald
    I was tidying my accounts three months ago and tried to close a current account by contacting them online three months ago but was refused. They stated it was by post or at branch.
    Originally posted by veryintrigued
    As ever, the detail is in the Ts & Cs (linked above).

    Their default position on this is given in 7.2.1(a):
    You inform us in writing that you wish to close your account. We may allow you to close your account over the phone. If you notify us by telephone, we may ask you to confirm any notice in writing
    but this can be overridden by account-specific conditions ("If an Account Specific Condition is inconsistent with any General Condition, the Account Specific Condition will apply"). It is overridden for their eSavings account (as above) but not current accounts....
    • richy4
    • By richy4 12th Jul 17, 10:36 AM
    • 129 Posts
    • 23 Thanks
    richy4
    Is it a soft credit check just for ID purposes to open this account?

    I'd like to open one for a couple of months to keep my mortgage deposit, however obviously do not want any random hard checks before my application or around it!
    • daddy_bro
    • By daddy_bro 12th Jul 17, 11:48 AM
    • 24 Posts
    • 3 Thanks
    daddy_bro
    I've worked on the Ulster bank IT systems for a few years and it is pretty antiquated so I'm not surprised at the long waits some are facing. They are trying to update their IT but have a long way to go.
    I am surprised though at the long waits on the phone some are facing as anytime I was in their call centres the waiting times were always very low.
    I would have to say that any of their staff I had to work with are extremely pleasant and very professional but unfortunately they have gone down the road of Indian support for their systems and internal staff support. Need I say more!!!!!
    • talexuser
    • By talexuser 12th Jul 17, 1:17 PM
    • 2,263 Posts
    • 1,735 Thanks
    talexuser
    I can't find an interest date in the t&cs, do we then assume it will be on the anniversary of opening or funding?
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