Ulster Bank - rate reductions

soulsaver

If you opened some of the UB a/c c.12 months ago when they were quite competitive you could get 3%+ in the Pathway a/c which after 6 months lost its bonus; their best rate was then 2.96% in the esaver plus. They now are at 2.6 & 2.46 respectively - although neither is clear from the website or indeed from their statutory notification.

Don't forget you need a card reader to do transfers on line;
And max w/d that way is £10k per day.

You can close the account which will bypass the 10k limit & negate the need for the reader by writing to them & requesting closure. If you want to avoid a cheque in the post, you can have a (free for closure only) chaps transfer to an elected destination.

I know it says 'a/c to be debited' but I'm assured by the NI esaver help desk its free.

http://www.ulsterbank.co.uk/documents/ni/Sterling_CHAPs_Form.pdf

Rollinghome

soulsaver wrote: »

You can close the account which will bypass the 10k limit & negate the need for the reader by writing to them & enclosing a chaps transfer request, which their Customer Care told me is free.

I'd be inclined to want confirmation of that. Their standard charge for CHAPS out is £25: http://www.ulsterbank.co.uk/documents/ni/Guide_to_Personal_Account_Fees_Interest.pdf

soulsaver

Rollinghome wrote: »

I'd be inclined to want confirmation of that. Their standard charge for CHAPS out is £25: http://www.ulsterbank.co.uk/documents/ni/Guide_to_Personal_Account_Fees_Interest.pdf

Yes and you may struggle - the Yorkshire based people argued there was a £23 charge (that IS what she said). But it was confirmed in 2 separate conversations with the telephone banking people in NI that there is no charge for a single chaps transfer when closing the account(s).
And for clarification I'm moving funds from an esaver plus by this method - it may not be the same for other accounts.

soulsaver

I can confirm that I did receive today my funds in well excess of 10K by free chaps transfer.