Ulster Bank Pathway Account (3.6% variable interest rate for 6 months)

johnmoney05

http://www.ulsterbank.co.uk/ni/personal/saving/useful-information/summary-rates/no-longer-available.ashx

Stompa

I've just noticed in the T&C's that when requesting closure of the account Ulster Bank suggest you have to return the (cut up) card to them. Can I ask if any of those who have already closed their account actually did this please?

One further thing that's not entirely clear from their website, who do you send the letter to? Their customer service centre, or the branch? (I imagine either will work, but perhaps one is quicker than the other).

Thanks

hallmark

I must admit, I can't see a compelling reason to w/d....

2.6% is only just below the best rate I can see & this lot seem to have good CS etc?

Stompa

hallmark wrote: »

I must admit, I can't see a compelling reason to w/d....

2.6% is only just below the best rate I can see & this lot seem to have good CS etc?

Indeed, if it wasn't for the fact that I can get 3.3% elsewhere for six months (on an account that is no longer available), I probably wouldn't bother.

MiserlyMartin

hallmark wrote: »

Does anyone have a link showing the current (2.6%?) interest rate? I can't find any trace of the account on their website.

thanks

I found the rate on their website. 2.6% 10k+ , with no mention of a rate for under 10K.

So does this mean that any balance below 10K gets no interest at all?

Rollinghome

MiserlyMartin wrote: »

I found the rate on their website. 2.6% 10k+ , with no mention of a rate for under 10K.

So does this mean that any balance below 10K gets no interest at all?

Near enough - 0.1%.

See http://www.ulsterbank.co.uk/ni/personal/saving/useful-information/summary-rates/no-longer-available.ashx "Should an account balance fall below any minimum balance requirement, we will pay interest at the minimum (nominal) savings account rate, as our published tariff states. The minimum (nominal) savings rate is 0.01% gross."

carpy

anyone had their interest added today??

nothing showing on mine yet....

bobbybee2

I haven't had any interest either - Anyone know exactly when in October the interest is paid?

staggered

Rang them this morning.

Interest will be paid at the END of October.

I asked various questions about how interest was calculated. But wasn't re-assured that every answer started "Erm, I think ...".

Seemingly:

Interest is calculated daily (so I shouldn't get hammered for the short period I had less than £10,000 in the account);

There are no penalties for withdrawals (unlike new products that replaced the Pathway).

That's been the only problem I've had with this account. I've never really understood how it operated. Too much confusing / contradictory information. Hope I don't get an unpleasant surprise at the end of the month.

Loco

I still have this account and a bit confused about when the 12 months is up exactly.

Is it 12 months from date of application (made on the internet)?

or 12 months from the date of 1st deposit?

The first transaction showing online says : 15 Dec NEW A/C THANK YOU...so assuming it`s that. Just want to make sure.