Ulster Bank e-savings account

jjlothin

When MSE says " Until Friday 29 September Ulster Bank will perform a hard credit search when you apply for this account (which is unusual for a savings account). For most it's not a big deal, but it may have a small, negative impact on your creditworthiness; best avoided if you're applying for a mortgage or other important credit soon." ... does that mean that if you apply AFTER Friday 29 September they WON'T perform a hard credit search?

Zanderman

Yes, it does mean that.

Ulster Bank say "From 29 September, all new applications for an eSavings account will no longer record a hard search on a customer's credit report, and we will be taking steps to remove hard searches already undertaken for existing eSavings customers."

More info here: https://www.moneysavingexpert.com/news/banking/2017/09/ulster-bank-to-wipe-credit-searches-on-savings-account-applicants-after-incorrect-credit-scoring

jjlothin

Excellent - many thanks, Zanderman! :beer:

badger09

jjlothin wrote: »

Excellent - many thanks, Zanderman! :beer:

However, before you start celebrating, you might want to read this thread:

https://forums.moneysavingexpert.com/discussion/5668139

22 pages:eek: but the last few will give you a flavour of what to expect;)

jjlothin

Thank you so much for that, badger09 - I think 'avoiding with barge poles' is the way to go! :eek:

do163600

That makes for interesting reading.

I had all sorts of problems opening the account. It was finally opened, but then they closed it and opened another one.

I had an email from MSE Credit Club last week to say that my credit rating had changed. I logged in to find that RBS had done TWO searches on my file. Lovely!

Edit: After reading the other thread, I have now discovered that I need a card, a PIN and a card reader in order to access my money. Were UB ever going to tell me that?

soulsaver

do163600 wrote: »

That makes for interesting reading.

I had all sorts of problems opening the account. It was finally opened, but then they closed it and opened another one.

I had an email from MSE Credit Club last week to say that my credit rating had changed. I logged in to find that RBS had done TWO searches on my file. Lovely!

Edit: After reading the other thread, I have now discovered that I need a card, a PIN and a card reader in order to access my money. Were UB ever going to tell me that?

I'm not defending UB... far from it, I had a mare opening it.
.. but border the reader and it triggers a 2nd level of security which allows you to upto £10k pd by telephone banking, while they (fail to) get you the reader + card+pin...

kinger101

soulsaver wrote: »

I'm not defending UB... far from it, I had a mare opening it.
.. but border the reader and it triggers a 2nd level of security which allows you to upto £10k pd by telephone banking, while they (fail to) get you the reader + card+pin...

Could you clarify.....now I've ordered the reading, I can do £10K withdrawals while I wait for it (never) to arrive?

colsten

Do we really need a second thread about this account? Can a board guide merge it with the earlier one?

badger09

colsten wrote: »

Do we really need a second thread about this account? Can a board guide merge it with the earlier one?

To be fair to the OP, when he/she started this thread, the 'other' Ulster Bank thread had slipped to page 5 or 6 IIRC, though a forum search would have found it.

soulsaver

kinger101 wrote: »

Could you clarify.....now I've ordered the reading, I can do £10K withdrawals while I wait for it (never) to arrive?

Yes - telephone banking is activated when you order the card reader, for withdrawals limited to £10k per day... and FTAOD you don't need reader/card for telephone banking.
What you do need is patience...