Ulster Pathway, Instant Access, Monthly or Annual?

f_@_w_y

Dear All,

Ulster Bank is offering quite attractive instant access savings account at the moment. I was deciding between ESAVINGS PLUS (3.21%) and PATHWAY (3.35%) account. On their www, they said that PATHWAY is giving ANNUAL INTEREST ONLY. ESAVINGS PLUS give MONTHLY (as per their www). Once I opened ESAVINGS PLUS, they sent me a guide "A personal guides on rates and interest". It clearly states that PATHWAY account gives MONTHLY interest.

I have put this complaint to Ulster. This is quite contradicting. What is the reality? Are they giving Monthly interest (with bonus) or annual ????:o:o:o:o:o:o:o

Thanks in advance for your comments!!
:cool: F@wy

johnmoney05

My Ulster Pathway account is annual interest if that makes you feel better.

Esavings Plus is instant access account, BUT, Instant Access – your money is there when you need it, interest will be lost in any month a withdrawal is made. If a withdrawal is made in any of the first six months after the account has been opened, only the bonus rate (0.50%) will be paid on that month.

Be warned.

G_M

I've always given Ulster a wide berth. Their accounts generally have bonus rates of only 6 months, they have wierd penalties/conditions, and reportedly problems opening them AND closing them.
Just not worth it for a few months of marginally better rate.

cottager

f_@_w_y wrote: »

On their www, they said that PATHWAY is giving ANNUAL INTEREST ONLY. ESAVINGS PLUS give MONTHLY (as per their www). Once I opened ESAVINGS PLUS, they sent me a guide "A personal guides on rates and interest". It clearly states that PATHWAY account gives MONTHLY interest.

I have put this complaint to Ulster. This is quite contradicting. What is the reality? Are they giving Monthly interest (with bonus) or annual????

The booklet I was posted after opening a Pathway was A guide to personal accounts fees and interest, which does not state that the Pathway account pays monthly interest.

If it's the same guide you're referring to, and it's the details on p15 you're looking at, the paragraph which mentions monthly interest is headed eSavings Plus. It does not refer to the Pathway account in the table immediately above, but to the table on the next page.

It's a poor layout which does make it rather confusing. Information for the eSavings Plus is split over two pages, with the descriptive text para on p15 and the table of details on p16. Because of this it does look as if the text on p15 belongs with/refers to the Pathway details immediately above, but there is the heading in bold to indicate it doesn't. Maybe in the booklet you have it's different?