Ulster Bank: Easy Access Savings Account at 1.25% pa

colsten

I am delighted to read that so many people now advise against opening that account. This means there's a fair chance that the 1.25% rate survives for a few more months.

talexuser

Applied on the 5th and managed to get money in on the 21st. The only glitch was asking for a password up front, and then asking for another when the activation code came - which then failed to log in. So had to apply for a password change with another days wait for a new activation code. Applied for a reader (which I don't really need since have a Nationwide one) but now waiting for the card - we will see how long that takes.

If you don't need this for immediate in/out daily money, but for cash reserve backup it might be worth hanging on.

eskbanker

PauloF1 wrote: »

They have nice contradictory T&Cs, which I shall invite the FSA to look at

Seems unlikely that the Food Standards Agency would be particularly interested, and even the Financial Conduct Authority is more likely to refer you to the Financial Ombudsman Service!

Just out of curiosity, what are the contradictions you've found in the Ts & Cs?

PauloF1

Thanks for your help eskbanker, I would obviously have contacted the Food Standards Agency without your insightful help... I'm well aware the FSA is now FCA & had no plans to contact anyone at this stage, I am just gathering info.

I'd been reading an old BBC page & then details on fairness regulation from the the FSA, which I need to check is still relevant: -

- bbc.co.uk/news/business-19511542
- fsa.gov.uk/doing/regulated/banking/bcobs

I've also been told that I can't shut the account online & that they can't do it over the phone either, this contradicts the T&Cs, which say you can cancel it online via anytime banking. Although with a reasonable sum of money trapped in the account, I'm loathe to do this with no payees setup, due to the lack of clarity from Ulster Bank customer services. Their online FAQs also say you can do it over the phone, by their phone banking reps say no: supportcentre.ulsterbank.co.uk/Searchable/996981722/How-do-I-close-an-account.htm

Any useful help or advice would be greatly appreciated, smart answers in the circumstances not so much, I'm mighty peeved & my beef is with Ulster Bank...

soulsaver

Seems like there's some facts that need straightening out as an element of hysteria has crept in...?

I'll say it again - [STRIKE]even if you don't have a card reader and/or a card, you can still manage this account. You can set up a payee by telephone banking and make withdrawals to it on line without the reader & card; and you can make a withdrawal by telephone banking - so, there is no need to get all tabloid and say don't put your money in 'cos you can't get it out - you can.
[/STRIKE] Edit: Now you can't! see #162
And I've been on their help line several times, talked to several agents, lodged a complaint... and haven't spoken to an Indian yet unless they have a strong Belfast accent.

richy4

What if, like me, you don't even have your account number and sort code yet?!

Applied 17th July, failed digidocs on passport upload. Tried again on driving licence, apparently this has worked as haven't heard back from them.

Received something in post to sign to open the account.

Absolutely nothing since. Hope this shambles times out and I'll find somewhere else to save. What a shower of s***! :cool::mad:

roddydogs

? Well I must have just been lucky, no problems at ail.

ColdIron

soulsaver wrote: »

And I've been on their help line several times, talked to several agents, lodged a complaint... and haven't spoken to an Indian yet unless they have a strong Belfast accent.

Ever been for a curry in Glasgow?

PauloF1

Soulsaver, you must have talked to a different bank via telephone banking to me then, they won't setup a new payee & won't move any money to an account they already moved money to earlier via phone banking, what am I doing wrong?

There's no hysteria creeping in from me, only facts! My first post details the chronology of the poor application process, incorrect advice from customer services, my complaint request to transfer money I need access to ASAP, their response saying "no it can't be done".

I've now escalated the complaint which apparently takes 7-10 days to deal with, it is a complete joke when you're stuck with no access to your own money, due to antiquated IT processes & incorrect advice from their customer service advisers....

£€$¥

I have had no problems at all opening the account and depositing money, but I do not think that I was alerted at any time during that process that I would need a card to use in a card reader if I wanted to withdraw it, or that this would not be sent out automatically.

Telephone banking staff (who are all very helpful) can't do anything until you have activated this card. The place on the website where you order it is difficult to find (it's the Security tab) and when you do find it, it mainly talks about obtaining a card reader which I already have (it's the same as those used by RBS, NatWest, Barclays, Nationwide, Co-op Bank and maybe many others) and only mentions the card in passing.

The card, the PIN (which you can change in the usual way at a cash machine) and the reader then come separately over about a week. After that, operating the account is very easy.

Ulster Bank should definitely explain this much better at the stage of opening the account.