Ulster Bank

VXman

dcs34 said:

Opening an account with Ulster Bank from GB is a real test of one's loyalty to chasing interest rates...

To be fair - I found it quite painless and pretty quick - and I opened a current account first too! (I realise now that I didn't need to). The most complex part was finding a branch.

For me it's a good instant access interest rate and as a plus the interest won't be paid until 2024 tax year. I have earned to much interest this year already,

indecision

I have opened a loyalty saver and today found I couldn't transfer money over £1000 to another ulster account that my husband had opened.  I needed to use the biometrics on my app to increase the limit but as i was new to the app I wasn't allowed to register.  The alternative was to send for a card reader but as the account doesn't have a card with it this too was not an option.  finally they advised me to use the chaps system and pay £6 for a ulster bank to ulster bank transaction or £12 to transfer to another bank.  I am appalled by this lack of transparency when I opened the accounts and will be closing them as soon as I can open another English account to put the money in. 

Largs

I've found to my regret how bad this bank is too. Appaulingly slow and not even worth the £200 switch bonus or the rates offered on Loyalty Saver. I emailed a director 2 weeks ago and still they have not done what they should have done months ago.  Parent company want to get rid of it in my opinion.

PloughmansLunch

VXman said:

dcs34 said:

Opening an account with Ulster Bank from GB is a real test of one's loyalty to chasing interest rates...

To be fair - I found it quite painless and pretty quick - and I opened a current account first too! (I realise now that I didn't need to). The most complex part was finding a branch.

For me it's a good instant access interest rate and as a plus the interest won't be paid until 2024 tax year. I have earned to much interest this year already,

It's paid on 1st working day of Jan as far as I know, so still falls within this financial year.

indecision said:

I have opened a loyalty saver and today found I couldn't transfer money over £1000 to another ulster account that my husband had opened.  I needed to use the biometrics on my app to increase the limit but as i was new to the app I wasn't allowed to register.  The alternative was to send for a card reader but as the account doesn't have a card with it this too was not an option.  finally they advised me to use the chaps system and pay £6 for a ulster bank to ulster bank transaction or £12 to transfer to another bank.  I am appalled by this lack of transparency when I opened the accounts and will be closing them as soon as I can open another English account to put the money in. 

I avoided opening an Ulster current account earlier this year for the switch incentive after all the tales of delay and woe on here, but this savings account was really straightforward to open albeit a little slow. I've had no previous relationship with Ulster but have had no problems with biometrics or paying in/out. Did you try registering for biometrics immediately after downloading the app, or give it a couple of days for things to settle into place?
After opening the account I did get a message saying you can obtain a service card(?) and reader for savings accounts so you might be able to request this as a backup.

sausageman17

Avoid!! I feel let down by MSE showing Ulster Bank as best savings rate late last year. Yes it was, and yes it was easy to open the account, despite being uneasy about the annual application of interest (rather than monthly). But closing the account? NIGHTMARE!!!! Having submitted the account closing form online I was informed it would take three working days to close after which I would not have access to the account. Asking the online assistant CORA how to access my interest accrued drew a blank after 40 mins and a suggestion I call the helpline. Not too long a wait for a response granted, but I couldn't believe the eventual advice - allow 3 working days for the account to close and a further 5 working days for a cheque (OMG! anybody remember those?) to be sent. And the telephone assistant could not tell me what the interest due was as the account had only just been closed and the 'interest hasn't been worked out yet' Whaaaaat? MSE, please research banks fully before making recommendations on your website!

eskbanker

sausageman17 said:

MSE, please research banks fully before making recommendations on your website!

See the foot of each page:

This info does not constitute financial advice, always do your own research on top to ensure it's right for your specific circumstances and remember we focus on rates not service

sausageman17

Avoid!! I feel let down by MSE showing Ulster Bank as best savings rate late last year. Yes it was, and yes it was easy to open the account, despite being uneasy about the annual application of interest (rather than monthly). But closing the account? NIGHTMARE!!!! Having submitted the account closing form online I was informed it would take three working days to close after which I would not have access to the account. Asking the online assistant CORA how to access my interest accrued drew a blank after 40 mins and a suggestion I call the helpline. Not too long a wait for a response granted, but I couldn't believe the eventual advice - allow 3 working days for the account to close and a further 5 working days for a cheque (OMG! anybody remember those?) to be sent. And the telephone assistant could not tell me what the interest due was as the account had only just been closed and the 'interest hasn't been worked out yet' Whaaaaat? MSE, please research banks fully before making recommendations on your website!

35har1old

sausageman17 said:

Avoid!! I feel let down by MSE showing Ulster Bank as best savings rate late last year. Yes it was, and yes it was easy to open the account, despite being uneasy about the annual application of interest (rather than monthly). But closing the account? NIGHTMARE!!!! Having submitted the account closing form online I was informed it would take three working days to close after which I would not have access to the account. Asking the online assistant CORA how to access my interest accrued drew a blank after 40 mins and a suggestion I call the helpline. Not too long a wait for a response granted, but I couldn't believe the eventual advice - allow 3 working days for the account to close and a further 5 working days for a cheque (OMG! anybody remember those?) to be sent. And the telephone assistant could not tell me what the interest due was as the account had only just been closed and the 'interest hasn't been worked out yet' Whaaaaat? MSE, please research banks fully before making recommendations on your website!

Should have withdrew all but a pound and transferred to your current account and either wait until annual interest added then transfer all but a pound then close account or if you can't wait close account after withdrawal 
I never found online chat with any bank of any value 

Emily_Joy

Firstly, Ulster bank saving account seem to have facilities not many saving accounts offer: it allows you to make faster payments to external accounts. Secondly, I do remember cheques and I still use them. In particular I have just ordered a cheque book for the Ulster saving account. 

Emily_Joy

@sausageman17 did you register on the forum just to rant about Ulster bank?