Ulster Bank: Easy Access Savings Account at 1.25% pa

glider3560

I've written a letter to close it.

Given how short lived the "good" interest rate was and troubles getting a card for the reader, I'm not going to bother opening any further accounts with them.

Marksfish

Still not been notified of the change. Perhaps they are rolling it out in stages?

chels

I only received the email yesterday so it seems they are going out in batches.

Westin

I also got my notification of the interest rate reduction yesterday via email.

What a disappointment this experience with Ulster Bank has been.

A complete faff for many customers and I would expect a huge administrative burden on the bank.

Fire those marketeers.

Yorkshire_Pud

Seems pointless offering a market leading rate then failing to increase it when the BOE base rate increased, then reducing the rate making it a poor account. Not a great reward after the prolonged and painful account opening process. Barge pole, future, not.

Ford money have consistently increased their savings rate on their easy access account, most recently from 1.17% to 1.22%. Not market leading but consistent and fair.

zilla6

I have this account with Ulster and they have just emailed me to say that from Apr 6th the rate will drop to 1%.

roddydogs

It's just the way it is, no best rate stays best for long, it's just to lure you in and rely on the fact that some won't bother to switch. Lost count of the number of times I've switched!

Tom99

roddydogs wrote: »

It's just the way it is, no best rate stays best for long, it's just to lure you in and rely on the fact that some won't bother to switch. Lost count of the number of times I've switched!

I have taken my money out of Ulster but re other banks, I have had an easy access account with Coventry for many years which now pays 1.4% after they put the rate up by 0.25% in December.

verntern

Will be interesting to see how quickly (or slowly) they close down this account for me. Fed up with the hassle. Posted my letter of closure (first class stamp) on Sunday Feb. 4th. Hopefully arrived with them Wednesday Feb.7. Such a primitive procedure. Chuckle, asked for faster payment into my main bank account. We will see

miller

verntern wrote: »

Will be interesting to see how quickly (or slowly) they close down this account for me. Fed up with the hassle. Posted my letter of closure (first class stamp) on Sunday Feb. 4th. Hopefully arrived with them Wednesday Feb.7. Such a primitive procedure. Chuckle, asked for faster payment into my main bank account. We will see

There was a freepost address (this was taken from the signature verification envelope which I had from account opening, no special frankings or anything on it, so assume it could be penned onto a blank envelope). Not sure if freepost travels at the speed of first class or not, but anyway for the benefit of others who may have missed it:

Freepost RRJA-GSKU-BXRB
Ulster Bank
Danesfort
Stranmillis Road
BELFAST
BT9 5UB