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

bryanb

S S2
Thanks for this thread, after 2 failures at the select your branch point I read

this through. I've now successfully opened a Pathway account

soulsaver

You can only withdraw maximum £10k per day.
Easy access?

Stompa

soulsaver wrote: »

You can only withdraw maximum £10k per day.

Hmmm, I can't see any reference to that, do you have a link please?

cottager

I haven't been able to find a reference to £10k anywhere except as the minimum balance for the account to achieve the bonus.

£10k is also the maximum daily limit for a Faster Payment out of an RBS group account, so I don't know but maybe this is what soulsaver meant?

If you had exactly £10k there in total, you wouldn't be able to make a withdrawal without dropping to the lower basic rate. With more than £10k there, say £25k, if you wanted to withdraw £15k you'd only be able to get it out over 2 days by FP.

KenC_3

Despite having opened more accounts than I can count in the last 12 months and not having any issues I can't open an account with UB as I can't provide the correct identification documentation. Having banked with RBS for nearly 30 years and holding Nat West ISAs they can't check with them because they are not on the same system. I guess making a phone call, sending and e-mail or a letter is too much trouble these days.

freediver_2

Hi.

Do any of you know if this account accepts faster payments in and out.

Thanks

Porcupine

Out, yes. I assume it supports them inbound too but haven't tried.

G_M

freediver wrote: »

Hi.

Do any of you know if this account accepts faster payments in and out.

Thanks

For details of who can/can't, see the thread here.

£10k is also the maximum daily limit for a Faster Payment out of an RBS group account

£10K is the limit imposed by UK Payments (formerly APACS) who developed the FPs system.

"There will be a maximum limit placed on the value of each payment sent through the Faster Payments Service, with the initial maximum value for standing orders set to £100,000 and for all other payment types to £10,000 . Individual banks may, however, choose to set lower limits"

weejenny

I transferred in today took about an hour to reach account.

Bank with RBS

cottager

G_M wrote: »

£10k is also the maximum daily limit for a Faster Payment out of an RBS group account

£10K is the limit imposed by UK Payments (formerly APACS) who developed the FPs system.

"There will be a maximum limit placed on the value of each payment sent through the Faster Payments Service, with the initial maximum value for standing orders set to £100,000 and for all other payment types to £10,000 . Individual banks may, however, choose to set lower limits"

Thanks G_M. Sorry, I didn't mean to imply RBS were the only ones who applied it nor that they were responsible for introducing/imposing the daily limit overall, only that they do offer the max £10k allowable daily (which some others do not). The only reason for mentioning RBS in particular here was because Ulster Bank is part of the group, and the thread discusses their Pathway account. My apologies if it gave the wrong impression.